Marathon Petroleum’s No. 31 ranking represents a sharp jump due to the Ohio-based company’s purchase of fellow refiner Andeavor for $23 billion, a deal that made Marathon the largest refiner in the U.S. The newfound scale has allowed the company to take advantage of cheap shale gas, and more easily sidestep the impact of U.S. sanctions on Venezuela, previously a major source of crude. Revenue rose nearly 44% to $97 billion in 2018, even as profits took a hit from the acquisition. The number of barrels Marathon processed surged 56% in the fourth quarter, following the completion of the Andeavor deal in October.
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