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Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011.
Marathon's subsidiary, Marathon Ashland Petroleum, is today the fifth largest petroleum refiner in the United States. It has also improved the company's debt-position and made Cazalot an immensely wealthy man. He earned a reported $6.5 million in compensation in 2008, making him nominally one of the highest paid executives in Houston. [7]
The Galveston Bay Refinery is an oil refinery located in the Texas City, Texas Industrial Complex on the edge of Galveston Bay.It is the largest oil refinery in North America with a capacity of 631,000 barrels per day [1] and has been owned and operated by Marathon Petroleum Corporation since 2013.
Workers at Marathon Petroleum's Detroit refinery have voted to authorize a possible strike. The 273 members of Teamsters Local 283 who work at the refinery voted 95% in favor of strike ...
In 2011, Marathon completed the corporate spin-off of Marathon Petroleum, distributing a 100% interest to its shareholders. [18] In June 2013, Marathon sold its Angolan oil and gas field to Sinopec for $1.52 billion. [19] In September 2013, Marathon sold a 10% stake in an oil and gas field offshore Angola for $590 million to Sonangol Group. [20]
The 2021 St. Paul Park refinery strike was a labor dispute in St. Paul Park, Minnesota, United States.The strike, involving approximately 200 workers, took place at an oil refinery owned by Marathon Petroleum and began on January 21, 2021, with members of Local 120 of the International Brotherhood of Teamsters alleging unfair labor practices and unsafe working conditions.
Fire crews have contained a large fire at a refinery storage tank in Garyville, Louisiana, about 40 miles west of New Orleans, authorities said.
ConocoPhillips's plans to acquire independent oil and gas producer Marathon Oil in an all-stock deal for $22.5 billion including debt continues a recent string of deals in the energy space.
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