Marathon Petroleum

Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation 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 Marathon Oil until becoming a standalone company on July 1, 2011.

History

In 1887, several small oil companies in Ohio banded together to form The Ohio Oil Company. In 1889, it was purchased by John D. Rockefeller's Standard Oil trust. It remained a part of Standard Oil until the trust was broken in 1911. In 1930, Ohio Oil bought the Transcontinental Oil Company, giving it the "Marathon" brand name. In 1962, the company changed its name to "Marathon Oil Company" after its primary brand.

Marathon Petroleum Corporation began as Marathon Ashland Petroleum, LLC a U.S. 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. The original Marathon company was also based in Findlay, and began in 1887 as Ohio Oil Company before becoming Marathon in the 1960s.