Marathon Petroleum Corp (NYSE: MPC) is a petroleum refining and marketing company that processes crude oil into refined products including gasoline, diesel, and jet fuel. Revenue is generated primarily through the sale of refined petroleum products at wholesale and retail, with additional income from midstream transportation and logistics operations conducted through its interest in MPLX LP. Based on the 10-K filed 2026-02-26 (accession 000151029526000009) for the fiscal year ended in that filing period, MPC operates one of the largest refining networks in the United States. The company's business spans refining, retail fuel and convenience store marketing, and midstream infrastructure. MPC is headquartered in Findlay, Ohio and competes in the domestic downstream energy sector against integrated oil majors and independent refiners.

Revenue model

Transactional sales of refined petroleum products at wholesale and retail margins, supplemented by midstream fee-based revenues through its general partner interest and limited partner units in MPLX LP.

Products and services

Gasoline, diesel, jet fuel, asphalt, heavy fuel oil, petrochemicals, lubricants; retail fuel and convenience store operations; midstream pipeline and storage services via MPLX LP.

Customers and end markets

Wholesale fuel purchasers, retail fuel consumers, commercial transportation operators, airlines; end markets include transportation, commercial, and industrial fuel consumption across the United States.

Value-chain role

Downstream petroleum refiner and marketer; midstream pipeline and terminal operator through MPLX LP; sits between crude oil producers and end consumers of refined petroleum products.

Geographic exposure

United States domestic operations; refining, retail, and midstream assets concentrated across the U.S.

Source: SEC 10-K, filed 2026-02-26

Industry: Petroleum Refining Peers: Archaea Energy Inc. CVR Energy Inc HF Sinclair Corp Phillips 66 PBF Energy Inc Renewable Energy Group, Inc. Sunoco LP Valero Energy Corp