December 21, 2014 2:25 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Marathon Petroleum Company LP

Company Overview

Marathon Petroleum Company LP explores, produces, refines, markets, and transports petroleum products. It offers gasoline, crude oil, asphalt, biodiesel, liquefied petroleum gas, heavy oil, petrochemicals, petroleum coke, and wholesale light products. The company also offers distillates, such as diesel fuels; lubricants, which comprise industrial and fleet motor oil, automatic transmission fluids, and heavy duty hydraulics and greases; and specialty products, including benzene, aromatics, cumene, dilute naphthalene oil, sulfur, propane, propylene, toluene, and xylene. In addition, Marathon Petroleum Company LP sells ladies’ apparel, men’s apparel, headwear, prepaid cash and gift cards, golf ...

539 South Main Street

Findlay, OH 45840-3295

United States

Founded in 1997

Phone:

419-421-3070

Fax:

419-425-7040

Key Executives for Marathon Petroleum Company LP

Chief Executive Officer of Marathon Petroleum Corporation and President of Marathon Petroleum Corporation
Age: 61
President of Speedway SuperAmerica LLC
Age: 61
Vice President of Risk Management and Trading
Age: 60
Senior Vice President of Marketing
Age: 55
Compensation as of Fiscal Year 2014.

Marathon Petroleum Company LP Key Developments

Investors to Collect in Marathon Case $467,709 Award Filed Against Marathon Ashland Petroleum LLC, Speedway Superamerica LLC and Marathon Oil Co. Tied to Gas Stations Reduced to Blight

Nearly two years after a jury ruled in their favor, a group of investors entangled in a lawsuit with Marathon Oil over damaged properties can collect nearly half a million dollars. Bitler Investment Venture LLC, Melching Investment Venture LLC, and Two Portland Properties LLC sued Marathon Ashland Petroleum LLC, Speedway Superamerica LLC and Marathon Oil Co. in December 2004. In their 28-count lawsuit, the plaintiffs claimed that properties they leased to the defendants as commercial gas stations in a number of Michigan and Indiana locations including Angola, Huntington, Ligonier and North Manchester, among others were damaged and left in deplorable conditions by Marathon. After years of bickering back and forth between one another in motions and requests for summary judgment more than 304 entries were filed in the case docket - six properties remained by November, with 22 having been dismissed in favor of Marathon. Those properties in Angola and North Manchester in Indiana, and in Coldwater, Battle Creek, Portland and Owosso in Michigan were the subject of a six-day jury trial in November 2012. At issue was whether the defendants damaged the properties by committing waste and whether the company needed to pay damages to the investors. The U.S. District Court jury in Fort Wayne found that Marathon had damaged the properties, and it awarded $274,000 in damages in amounts ranging from $13,200 for the Coldwater, Michigan, property to $75,800 to the North Manchester property. The jury also found that the investors were not entitled to punitive damages concerning the Angola and North Manchester properties, according to court documents. Even though the investors won their lawsuit, the awarding of the judgment was on hold while the U.S. Court of Appeals reviewed the matter and a modification to the damage award for the sites in Michigan. With those adjustments, the amount of money now owed to the investors is $467,709.08, not including interest. Late last week, the court entered a final judgment order in the case, according to court records.

Arthur Pantry Inc. Announces the Renewal of Branded Product Supply and Trademark License Agreement with Marathon Petroleum Company LP

The Pantry Inc. elected to renew the Branded Product Supply and Trademark License Agreement dated July 26, 2010 between Marathon Petroleum Company LP and The Pantry Inc. for a period of three years, commencing July 1, 2013 and ending on June 30, 2016.

Marathon Petroleum Company LP Presents at Argus Americas Crude Summit, Jan-25-2013 01:30 PM

Marathon Petroleum Company LP Presents at Argus Americas Crude Summit, Jan-25-2013 01:30 PM. Venue: Houstonian Hotel, Club & Spa, 111 North Post Oak Lane, Houston, TX 77024, United States. Speakers: Dennis Sutton, Manager of Feedstock Quality & Measurements.

Similar Private Companies By Industry

Company Name Region
Heidtman Mining, LLC United States
Marcellus Ethane Pipeline System, L.L.C. United States
Novare Biofuels, Inc. United States
Hawaiian Islands Bioenergy, Inc. United States
Freedom Fuels, LLC United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Bertelsmann AG Europe
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Marathon Petroleum Company LP, please visit www.marathonpetroleum.com/brand. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.