Marathon Petroleum Corporation : Marathon Petroleum Corporation Announces Incremental $2 Billion Share Repurchase Authorization

  Marathon Petroleum Corporation : Marathon Petroleum Corporation Announces
Incremental $2 Billion Share Repurchase Authorization and Fourth-Quarter 2012

FINDLAY, Ohio, Jan. 30, 2013 - Marathon Petroleum Corporation (NYSE: MPC)
announced today that its board of directors has approved an additional $2
billion share repurchase authorization. The board also extended the remaining
$650 million share repurchase authorization announced on Feb. 1, 2012, for a
total outstanding authorization of $2.65 billion through December 2014. MPC
may utilize various methods to effect the repurchases, which could include
open market repurchases, negotiated block transactions, accelerated share
repurchases or open market solicitations for shares, some of which may be
effected through Rule 10b5-1 plans. The timing of repurchases will depend upon
several factors, including market and business conditions, and repurchases may
be discontinued at any time.

The board also declared a fourth-quarter dividend of 35 cents per share on
Marathon Petroleum Corporation common stock. The dividend is payable March 11,
2013, to stockholders of record as of the close of business on Feb. 20, 2013.

"Our focus has remained on returning capital to our shareholders while
continuing to make value enhancing investments in the company. Our strong
financial position and operating cash flow enabled us to increase our dividend
by 40 percent in 2012 and to execute two accelerated share repurchase programs
totaling $1.35 billion. Today's announcement builds upon our continuing
commitment to our shareholders," said MPC President and CEO Gary R. Heminger.

MPC will provide an update on its 2012 fourth-quarter and year-end results
through an earnings news release, to be followed by a conference call
scheduled for today at 10 a.m. ET. Interested investors can listen to the
conference call on MPC's website at by
clicking on the "2012 Fourth-Quarter Financial Results" link.

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About Marathon Petroleum Corporation
MPC is the nation's fifth-largest refiner, with a crude oil refining capacity
of approximately 1.2 million barrels per calendar day in its six-refinery
system. Marathon brand gasoline is sold through approximately 5,000
independently owned retail outlets across 17 states. In addition, Speedway
LLC, an MPC subsidiary, owns and operates the nation's fourth largest
convenience store chain, with approximately 1,460 convenience stores in seven
states. MPC also owns, leases or has ownership interests in approximately
8,300 miles of pipeline. Through subsidiaries, MPC owns the general partner of
MPLX LP, a midstream master limited partnership. MPC's fully integrated system
provides operational flexibility to move crude oil, feedstocks and
petroleum-related products efficiently through the company's distribution
network in the Midwest, Southeast and Gulf Coast regions. For additional
information about the company, please visit our website at

Investor Relations Contacts:
Pamela Beall (419) 429-5640
Beth Hunter (419) 421-2559

Media Contacts:
Angelia Graves (419) 421-2703
Jamal Kheiry (419) 421-3312

This press release contains forward-looking statements within the meaning of
federal securities laws. These forward-looking statements relate to, among
other things, MPC's expectations, estimates and projections concerning MPC
business and operations. You can identify forward-looking statements by words
such as "anticipate," "believe," "estimate," "expect," "forecast," "project,"
"could," "may," "should," "would," "will" or other similar expressions that
convey the uncertainty of future events or outcomes. Such forward-looking
statements are not guarantees of future performance and are subject to risks,
uncertainties and other factors, some of which are beyond the issuer's control
and are difficult to predict. Factors that could cause actual results to
differ materially from those in the forward-looking statements include:
volatility in and/or degradation of market and industry conditions; the
availability and pricing of crude oil and other feedstocks; slower growth in
domestic and Canadian crude supply; completion of pipeline capacity to areas
outside the U.S. Midwest; consumer demand for refined products; transportation
logistics; the reliability of processing units and other equipment; our
ability to successfully implement growth opportunities; impacts from our
repurchases of shares of MPC common stock under our stock repurchase
authorization, including the timing and amounts of any common stock
repurchases; state and federal environmental, economic, health and safety,
energy and other policies and regulations; other risk factors inherent to our
industry; and the factors set forth under the heading "Risk Factors" in MPC's
Annual Report on Form 10-K for the year ended December 31, 2011 filed with the
Securities and Exchange Commission (the "SEC"). In addition, the
forward-looking statements included herein could be affected by general
domestic and international economic and political conditions. Unpredictable or
unknown factors not discussed here or in MPC's Form 10-K could also have
material adverse effects on forward-looking statements. Copies of MPC's Form
10-K are available on the SEC website, at or
by contacting MPC's Investor Relations Office.

MPC 4Q Dividend & Share Repurchase


This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.

Source: Marathon Petroleum Corporation via Thomson Reuters ONE
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