Gary R Heminger Net Worth is21.0 $Million
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Logo: Image:Marathon Oil logo.svg
Type: Public company
Traded As: MPC
Foundation: Findlay, Ohio, United States (2005/09/01)
Location: Findlay, Ohio, United States
Locations: 5,100 franchised stations
Key People: Gary R. Heminger,(President) & (CEO)
Industry: Oil and gas
Services: Pipeline transport, refining, marketing
Divisions: Speedway LLC , Catlettsburg Refinery
Homepage: [http://www.marathonpetroleum.com/ marathonpetroleum.com]
Marathon Petroleum Corporation is a U.S. based oil refining, marketing, and pipeline transport company. The company was formed as a subsidiary on September 1, 2005, from the former Marathon Ashland Petroleum, LLC, and is based in Findlay, Ohio. Marathon Petroleum operated as a subsidiary of the Marathon Oil Corporation until July 1, 2011.
Marathon Ashland Petroleum, LLC was a US based petroleum corporation, formed in 1998 from a merger of the downstream operations of Ashland, Inc., and Marathon Oil. Its corporate headquarters were in Findlay. Marathon owned 62% percent and Ashland owned 38% of this venture.
On September 1, 2001, Marathon formed Pilot Travel Centers, LLC (PTC) in a joint venture with Pilot Corporation. Each company owned 50% of PTC. In 2008 Marathon Petroleum Company, LLC sold their ownership of the company to Pilot.
The Speedway SuperAmerica chain of convenience stores was a subsidiary of this now-defunct company. In addition, Marathon Ashland Petroleum owned seven refineries and a number of other pipelines. Following Ashland shareholder and debt-holder approval, the company became fully owned by Marathon Oil on June 30, 2005. The company was renamed Marathon Petroleum Company on September 1, 2005.[citation needed]
In 2006, Marathon began using STP-branded additives in its gasoline, likely to compete with Chevron's popular Techron additive.[citation needed]
On January 13, 2011, Marathon Oil Company announced it would separate completely from Marathon Petroleum Company, creating 2 independent entities. As a result, Marathon Petroleum Company exists as an independent downstream oil company, with focus on refining, pipeline, and marketing. The split was expected by Marathon executives to allow Marathon Petroleum Company to focus more directly on refining, pipeline and marketing portfolio enrichment. The spin-off was completed on July 1, 2011.
Marathon maintains refineries in Robinson, Illinois; Canton, Ohio; Detroit, Michigan; Gary

Gary R Heminger Net Worth, 3.7 out of 5 based on 6 ratings
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Gary R Heminger Latest News

Marathon Petroleum warns against lifting crude export ban as profits triple

As Marathon Petroleum Corp. posted a three-fold increase in profits ... the company warned that recent moves to lift a decades-old ban on crude oil exports threaten refiners. CEO Gary R. Heminger said those who want to change U.S. policy to allow the ...
Posted: October 30, 2014, 1:18 am

PPG Industries : Heminger Joins PPG Board of Directors

PPG (NYSE: PPG) today announced that Gary R. Heminger, chairman and CEO of Marathon Petroleum Corporation, has been elected to join its board of directors, effective immediately. He will serve on the PPG board’s audit committee and its nominating and ...
Posted: July 20, 2017, 7:08 am

Marathon Petroleum (MPC), MPLX LP (MPLX) to Exchange MPC's General Partner Economic Interests, including IDRs, for MPLX Common Units

"We are pleased to complete the strategic actions announced in January with the agreement to exchange MPC's GP economic interests for LP units, which will result in substantial long-term benefits across the enterprise," said Gary R. Heminger, chairman and ...
Posted: December 15, 2017, 3:32 am
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