MPLX

MPLX owns, leases or has an ownership interest in approximately 2,900 miles of pipeline across nine states in the United States of America. This network of petroleum pipelines is one of the largest in the country, based on total annual volumes delivered. MPLX LP (MPLX) began trading on NYSE on October 26, 2012, and is a master limited partnership formed by Marathon Petroleum Corporation (MPC). 

The company’s assets consist of a network of common carrier crude oil, product pipeline systems, and product storage assets in the Midwest and Gulf Coast regions. 

2009: Marathon Petroleum Corporation was formed on November 9, 2009, as a subsidiary of Marathon Oil. A $3.2 billion major expansion project at the Garyville refinery was completed.

2010: The St Paul Park refinery and Speedway SuperAmerica assets in Minnesota were sold.

2011: On July 1, Marathon Petroleum Corporation (MPC) became a stand-alone refining, marketing and transportation company, headquartered in Findlay, Ohio.

2012: MPC completed the Detroit Heavy Oil Upgrade Project at the Detroit refinery.

2013: In June, Marathon sold its Angolan oil and gas field to Sinopec for $1.52 billion. In September, Marathon announced it would sell a 10% stake in an oil and gas field offshore Angola for around $590 million to Sonangol Group. The company purchased numerous assets from BP including a 451,000-barrel-per-day refinery in Texas City, Texas, four light product distribution terminals, and retail marketing contracts for 1,200 retail stations throughout the southeastern United States.

2014: Marathon acquired Hess Corporation retail operations and related assets. Speedway LLC, a now-former subsidiary of the company, purchased the retail operations of the corporation for $2.82 billion.

2015: MPLX acquired MarkWest Energy Partners L.P., further growing MPLX’s midstream business.

2016: MPLX completed the construction of the Cornerstone Pipeline in Ohio. However, a fire at the Galveston Bay refinery in Texas City, Texas, injured three contract workers, resulting in a lawsuit seeking $1 million in damages.

2018: On April 30, Marathon agreed to buy Andeavor, an independent refinery and oil company based in the Western United States, for $23 billion. On October 1, the merger was completed.

2019: On October 31, Marathon announced plans to spin off their Speedway convenience stores. MPLX LP acquired Andeavor Logistics LP, creating a leading, large-scale, diversified midstream company.

“MPLX provides services in the midstream sector across the hydrocarbon value chain through our Logistics and Storage and Gathering and Processing segments.”

“To protect the environment and strive to be good corporate citizens wherever we operate.”