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  • Previous Rank83
  • Revenues ($M)$64,566
  • Revenue Percent Change-29.4%
  • Profits ($M)$2,852
  • Profits Percent Change13%
  • Assets ($M)$43,115
  • Employees45,440

Ohio-based Marathon Petroleum was the worst hit of all the major independent refiners as ‘crack spreads’ — the premiums for processing crude into various fuel distillates — fell sharply at the start of 2016. Its refining division, which processes up to 1.8 million barrels of oil a day, actually swung to an operating loss in the first quarter as years of gorging on cheap domestic crude oil came to an end. To some extent, exports are taking the strain as new infrastructure becomes operational. Earnings are also stabilized by its 2,770-strong network of Speedway convenience stores — the 2nd largest gas station chain in the U.S. The company is hoping that heavy investment in the gas stations it bought from Hess in 2014 will pay off with higher sales in the coming years. It’s also growing in the ‘midstream’ business of pipelines, having absorbed MarkWest, a natural gas pipeline, into its Master Limited Partnership subsidiary MPLX last year in a deal valued at $20 billion.

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Company Information

Gary R. Heminger
Petroleum Refining
HQ Location
Findlay, OH
Years on Global 500 List5

Marathon Petroleum Rank History

Key Financials (last fiscal year)

($ Millions)% change
Revenues ($M)$64,566-29.4%
Profits ($M)$2,85213%
Assets ($M)$43,115-
Total Stockholder Equity ($M)$13,237-

Profit Ratios

Profit as % of Revenues4.4%
Profits as % of Assets6.6%
Profits as % of Stockholder Equity21.5%