July 25, 2016 7:09 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Marathon Petroleum Company LP

Company Overview

Marathon Petroleum Company LP 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 products, drinkware,...

539 South Main Street

Findlay, OH 45840-3295

United States

Founded in 1997





Key Executives for Marathon Petroleum Company LP

Chief Executive Officer of Marathon Petroleum Corporation and President of Marathon Petroleum Corporation
Age: 63
President of Speedway SuperAmerica LLC
Age: 63
Vice President of Risk Management and Trading
Age: 62
Senior Vice President of Marketing
Age: 57
Compensation as of Fiscal Year 2016.

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.

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