Marathon Petroleum Corporation Profile

Transcription

1 Marathon Petroleum Corporation Profile

2 Contents COMPANY OVERVIEW Corporate Citizenship...1 Responsible Care...1 PRESIDENT AND CEO LETTER...2 CORPORATE OFFICERS...3 INDUSTRY COMPARISON...4 REFINING OVERVIEW...5 Garyville...6 Galveston Bay...7 Catlettsburg...8 Robinson...9 Detroit...10 Canton...11 Texas City...12 Refinery Throughput and Consolidated Sales...13 MARKETING Marathon Brand...14 Wholesale Marketing and Other...15 SPEEDWAY LLC...16 TERMINAL, TRANSPORT AND RAIL...17 MIDSTREAM...18 MPLX LP...19 MPC ASSET MAP...20 GLOSSARY...21 FORWARD-LOOKING STATEMENTS...21 Marathon Petroleum Corporation Overview Marathon Petroleum Corporation (MPC) is the nation s fourth-largest refiner. With geographically and strategically aligned operations across the entire downstream value chain, MPC is an industry leader emphasizing safe and reliable operations. The company s extensive transportation and distribution assets and operations are distinguishing factors that separate it from other refining and marketing companies. This extensive logistical system allows MPC to optimize the supply of crude oil and other feedstocks into its approximately 1.8 million barrels per calendar day crude oil refining system and the distribution of refined products produced in these refineries. MPC markets through two strong retail brand names: Speedway and Marathon. Speedway LLC owns and operates the nation s secondlargest convenience store chain, with approximately 2,770 locations in 22 states. The Marathon brand is an established motor fuel brand in the Midwest and Southeast regions of the U.S., and is available through approximately 5,600 independently owned and operated retail outlets in 19 states. There are approximately 300 retail outlet contract assignments primarily in the Southeast and select Northeast states. Through these brands and our wholesale business, MPC is a significant supplier in its market area. MPC serves the Midwest, Northeast, East Coast, Southeast, and Gulf Coast as a petroleum products marketer, with 79 owned and operated light product and asphalt terminals. MPC owns, leases or has ownership interests in about 8,400 miles of pipeline. With a long history dating back to the earliest years of the oil industry, MPC and its nearly 45,440 employees are focused on delivering value to our stakeholders and customers and look forward to continued success. Editor s Note: The information in this publication is current through Dec. 31, 2015, unless otherwise noted. All volumes are net sales.

3 1 Corporate Citizenship MPC is founded on longestablished core values of honesty and integrity, high standards for health, safety and environmental stewardship, valuing the individual and diversity throughout our company, and advocating corporate citizenship. MPC has made an ongoing commitment to these core values. We acknowledge that our actions and operations affect stakeholders investors, employees, customers, suppliers, communities and business partners and we strive to promote economic, environmental and social benefits wherever MPC operates. Our commitment to corporate citizenship means being accountable to all of our stakeholders and ensuring that MPC s operations have a positive influence in the communities where we live and work. Responsible Care MPC is proud to participate in Responsible Care, a commitment to the continual improvement of environmental, health, safety and security performance. Responsible Care reflects MPC s commitment to doing the right thing for the right reasons. Responsible Care companies have reduced recordable injury and illness rates by 78 percent since 1990; process safety incidents by 53 percent since 1995; and hazardous releases to the air, land and water by 75 percent from 1988 to Through the implementation of Responsible Care and other programs, MPC has reduced the company s OSHA Recordable Incident Rate by more than 75 percent and reduced total criteria air pollutant emissions by more than 50 percent since Today more than 250 members and partner companies have committed to the principles and practices of Responsible Care as a way of doing business. MPC is recognized as a pioneer for extending the principles of Responsible Care throughout the refining, marketing and transportation industry. All members and partners have one common vision of no accidents, no injuries and no harm to the environment. Garyville Refinery Habitat Area

4 2 President and CEO Letter Marathon Petroleum Corporation (MPC) continues to meet the daily needs of millions of people who rely on the products we manufacture, move and market. Our people and our assets are a powerful combination. Together, they position MPC to respond to the shortterm and long-term changes in crude oil supplies and refined product distribution needs. GARY R. HEMINGER President and Chief Executive Officer MPC s integrated refining, marketing and logistics system continue to yield excellent results. Our ongoing success is attributable to our strategy of maintaining flexibility and optionality in our Refining and Marketing, Speedway and Midstream segments. Refining and Marketing In 2015, we commissioned a 35,000 barrel per day (bpd) condensate splitter at our Catlettsburg refinery. Along with the 25,000 bpd splitter at our Canton refinery that was completed in late 2014, we now have up to 60,000 bpd of condensate processing capacity in the prolific Utica and Marcellus shale regions. System-wide, we have increased our overall crude oil refining capacity by 63,000 bpd, an approximately 4 percent increase over Speedway During 2015, we made excellent progress on the conversion of the new stores we acquired in 2014, with almost 1,100 stores converted to the Speedway brand and technology platform. In addition to being ahead of schedule, we expect the store conversions to be completed under budget. Speedway also remodeled 285 stores during the year. At the same time, we also focused on organic growth in existing markets, including our legacy seven-state Midwest footprint, as well as Pennsylvania and Tennessee. We have also begun increasing our presence in Georgia and South Carolina to take advantage of expansion opportunities in Speedway s existing marketing footprint in those states. Midstream In December 2015, MPLX acquired MarkWest Energy Partners, creating a large-cap master limited partnership. Prior to the combination, MPLX primarily served MPC s extensive crude oil and refined product logistics needs. With the addition of MarkWest, MPLX now includes a respected industry leader in natural gas and natural gas liquids gathering, processing and fractionation in some of the nation s most prolific and promising production areas. This extends MPC s strength across the hydrocarbon value chain. As we have done consistently since becoming an independent company, MPC has proved that its fully integrated system, strategically located assets and focus on operational excellence provide it with a competitive advantage that is sustainable for the long term. Sincerely, Gary R. Heminger President and Chief Executive Officer

5 Corporate Officers 3 Officers Donald C. Templin Executive Vice President Randy S. Nickerson Executive Vice President Corporate Strategy Anthony R. Kenney President Speedway LLC Raymond L. Brooks Senior Vice President Refining Timothy T. Griffith Senior Vice President and Chief Financial Officer Thomas M. Kelley Senior Vice President Marketing Rodney P. Nichols Senior Vice President Human Resources and Administrative Services C. Michael Palmer Senior Vice President Supply, Distribution and Planning John S. Swearingen Senior Vice President Transportation and Logistics Molly R. Benson Vice President Corporate Secretary and Chief Compliance Officer Suzanne Gagle Vice President and General Counsel John R. Haley Vice President Tax James P. Heintschel Vice President Business Development Thomas Kaczynski Vice President Finance and Treasurer John J. Quaid Vice President and Controller Donald W. Wehrly Vice President and Chief Information Officer David L. Whikehart Vice President Environment, Safety and Corporate Affairs

6 4 Industry Comparison MPC is the fourth largest U.S. refiner and the largest in the Midwest. MPC s operations are focused primarily in the Midwest, Northeast, East Coast, Southeast, and Gulf Coast regions of the U.S. MPC is headquartered in Findlay, Ohio, and trades on the New York Stock Exchange under the ticker symbol MPC. Total U.S. Crude Refining Capacity (1) Number of U.S. Refineries (1) 2,000 1,977 Majors and Integrateds Majors and Integrateds 1,863 1,832 1,794 MPC MPC Independent Refiners 15 Independent Refiners 1, MBPCD 1, Valero Exxon Phillips MPC Shell Chevron 840 Tesoro 749 Citgo 719 BP 474 HFC Valero Phillips 7 MPC 6 Exxon 6 6 Shell Tesoro 5 5 Chevron HFC 4 BP 3 Citgo Average Crude Capacity of U.S. Refineries (1) Nelson Complexity Index (1) Majors and Integrateds MPC Independent Refiners Majors and Integrateds MPC Independent Refiners MBPCD Exxon MPC Citgo Chevron BP Phillips Shell Valero Tesoro HFC 3 0 Chevron Citgo Valero Exxon Phillips Shell MPC Tesoro BP HFC (1) MPC data as of Jan. 1, Company data as reported in the Oil and Gas Journal (O&GJ) 2016 Worldwide Refining Survey, published on Dec. 1, Owned interest of joint ventures are included in company statistics: Phillips includes 50 percent WRB; BP includes 50 percent BP-Husky Toledo; and Shell includes 50 percent Deer Park and Motiva.

7 Refining Overview 5 Refining, Marketing and Refining Overview Transportation Network MPC ranks as the fourth-largest crude MPC s seven refineries are managed as one integrated system, transferring intermediate stocks between refineries and optimizing feedstock and raw material inputs. This results in economies of scale that reduce capital expenditures and optimize capacity. oil refiner in the U.S. and the largest in the Midwest. Operating in the Midwest, Northeast, East Coast, Southeast, and Gulf Coast regions of the U.S., its refining, marketing and transportation operations are strategically located to serve major markets and include a seven-plant refining network with 1,794,000 bpcd of crude oil refining capacity, a biodiesel facility, interest in three ethanol facilities, a comprehensive terminal and transportation system and extensive marketing operations. MPC s focus on safe, efficient and reliable operations ensures that the company s refineries are well-positioned to address changes in the marketplace, capture commercial advantages within a strong logistics system, and seek to increase retail and brand sales volumes. MPC processes a diverse slate of crude oil procured from numerous suppliers. The typical slate in 2015 consisted of about 55 percent sour crude oil and 45 percent sweet crude oil. During 2015, approximately 67 percent of this crude oil was acquired from U.S. producers, an additional 14 percent from Canada and 19 percent from other international sources. Key Marketing Area MPC Refineries Light Product Terminals MPC Owned and Part-owned Third Party Asphalt/Heavy Oil Terminals MPC Owned Third Party Pipelines MPC Owned & Operated MPC Interest: Operated by MPC MPC Interest: Operated by Others Pipelines Used by MPC Ethanol Facility Biodiesel Facility REFINERY CAPACITY BPCD NCI* Garyville 539, Galveston Bay 459, Catlettsburg 273, Robinson 212, Detroit 132, Canton 93, Texas City 86, TOTAL 1,794, ** * Nelson Complexity Index calculated per Oil & Gas Journal NCI formula ** Weighted Average NCI Source: MPC Data

8 6 Refining Overview Garyville, Louisiana Crude oil capacity: 539,000 bpcd MPC s Garyville refinery, completed in 1976, is the last major grassroots refinery built in the U.S. Located on the Mississippi River, midway between New Orleans and Baton Rouge, La., the refinery receives crude oil delivered via the Mississippi River and the Louisiana Offshore Oil Port and from Gulf of Mexico production. In 2009, MPC completed a major expansion project, which provided a significant increase in crude oil refining capacity. MPC continues to optimize the refinery and has increased its crude oil capacity to the current level at 539,000 bpcd, making it the third-largest refinery in the U.S. Crude Oil Supply: A wide variety of both sweet and sour crude oils Operations: Crude distillation, hydrocracking, catalytic cracking, hydrotreating, reforming, alkylation, isomerization, sulfur recovery and coking Products: Gasoline, distillates, fuel-grade coke, asphalt, polymer-grade propylene, propane, slurry, sulfur and dry gas Product Distribution: Pipeline, barge, transport truck, rail and ocean tanker Employees: Approximately 950 Awards & Recognition: u 2014: Two Environmental Leadership Awards from the Louisiana Department of Environmental Quality u 1994-present: Occupational Safety and Health Administration (OSHA) Voluntary Protection Program Star Site u Only refinery accepted in the Environmental Protection Agency s (EPA) Voluntary Early Reduction Program for Air Toxics under the Clean Air Act u 22 Governor s Environmental Leadership Awards since 1996 u Emergency response drills with local emergency responders u : U.S. EPA ENERGY STAR facility u Wildlife Habitat Council s Corporate Lands for Learning Award u Wildlife Habitat Council s Certified Wildlife at Work Award Refinery Unit & Production Capacity (1) BPCD Unless Noted Crude 539,000 Vacuum Distillation 282,200 Coking 88,800 Catalytic Cracking 131,100 Catalytic Reforming 121,600 Catalytic Hydrocracking 111,200 Catalytic Hydrotreating 538,700 NHT 102,600 DHT 151,100 KHT 76,000 GOHT/VGOHT 100,700 GDU 108,300 ADS Alkylation 31,400 Polymerization/ Dimerization Aromatics Isomerization 47,100 Cumene Coke (Short Tons per Day) 6,252 Sulfur (Long Tons per Day) 1,254 Asphalt 31,400 PADD III (1) As of Jan. 1, 2016

9 Refining Overview 7 Refinery Unit & Production Capacity (1) BPCD Unless Noted Crude 459,000 Vacuum Distillation 225,200 Coking 29,800 Catalytic Cracking 190,500 Catalytic Reforming 124,300 Catalytic Hydrocracking 136,900 Catalytic Hydrotreating 387,900 NHT 115,000 DHT 53,100 KHT 71,100 GOHT/VGOHT 94,500 GDU 54,200 ADS Alkylation 38,000 Polymerization/ Dimerization Aromatics 33,800 Isomerization Selective Toluene Disproportionation 60,800 Cumene Coke (Short Tons per Day) 2,263 Sulfur (Long Tons per Day) 1,317 Asphalt PADD III (1) As of Jan. 1, 2016 Galveston Bay Texas City, Texas Crude oil capacity: 459,000 bpcd MPC s Galveston Bay refinery was acquired in 2013 and is one of the largest refineries in the U.S. It is well-positioned on the Texas Gulf Coast, with the flexibility to receive and process a wide range of crude oils, and is strategically located to distribute finished products to the Midwest, mid-atlantic, New York Harbor, Southeastern U.S., and export markets including Mexico, South America and Europe. The facility also includes significant aromatic extraction capabilities, which increases MPC s participation in the chemicals value chain. Crude Oil Supply: A wide variety of both sweet and sour crude oils Operations: Crude distillation, hydrocracking, catalytic cracking, hydrotreating, reforming, alkylation, aromatics extraction, sulfur recovery and coking Products: Gasoline, distillates, aromatics, heavy fuel oil, fuel-grade coke, refinery-grade propylene, sulfur and dry gas Product Distribution: Pipeline, barge, transport truck and ocean tanker Cogeneration Facility: Currently has 1,055 megawatts of electrical production capacity and can produce 4.3 million pounds of steam per hour while supplying the Galveston Bay refinery. Approximately 46 percent of the power generated in 2015 was used at the refinery, with the remaining electricity being sold into the electricity grid. Employees: Approximately 1,875 Awards & Recognition: u 2010-present: Certified to the American Chemistry Council s Responsible Care ISO14001/RC14001 Standard, with commitment to continuous improvement in health, environmental, safety and security performance u : Houston Business Roundtable (HBR) Safety Excellence Award for Outstanding Performance in Promoting and Improving Contractor Safety u 2013 American Fuel and Petrochemical Manufacturers Safety Meritorious Award u 2013-present: Site safety enhancements and improved emergency response capabilities

10 8 Refining Overview Catlettsburg, Kentucky Crude oil capacity: 273,000 bpcd MPC s Catlettsburg refinery is located in northeastern Kentucky on the western bank of the Big Sandy River, near the confluence with the Ohio River. It was purchased in 1924 by Swiss Oil Corporation (then parent company of Ashland Inc.). The plant became part of MPC s refinery system in 1998 and fully owned by MPC in MPC completed construction of a condensate splitter in 2015, increasing the refinery s capacity to process condensate from the Utica Shale region. Crude Oil Supply: Sweet and sour crude oils Operations: Crude distillation, hydrotreating, catalytic cracking, reforming, alkylation, isomerization and sulfur recovery Products: Gasoline, distillates, asphalt, aromatics, refinery-grade propylene and propane Product Distribution: Pipeline, barge, transport truck and rail Employees: Approximately 735 Awards & Recognition: u 2008 Responsible Care Management System certification u Inaugural Master Level member of KY EXCEL 2007 u American Fuel and Petrochemical Manufacturers and the National Safety Council safety and environmental performance awards u 2012 Kentucky Northeast Region Business Conservation Partner of the Year u 2012 Kentucky Manufacturer of the Year (large business category) u Savage Branch Wildlife Reserve u 2014 Kentucky Community and Technical College Benefactor Award Refinery Unit & Production Capacity (1) BPCD Unless Noted Crude 273,000 Vacuum Distillation 115,900 Coking Catalytic Cracking 98,800 Catalytic Reforming 49,900 Catalytic Hydrocracking Catalytic Hydrotreating 258,500 NHT 50,800 DHT 73,600 KHT 29,500 GOHT/VGOHT 101,700 GDU ADS 2,900 Alkylation 20,000 Polymerization/ Dimerization Aromatics 3,100 Isomerization 17,100 Cumene 7,100 Coke (Short Tons per Day) Sulfur (Long Tons per Day) 380 Asphalt 33,600 PADD II (1) As of Jan. 1, 2016

11 Refining Overview 9 Refinery Unit & Production Capacity (1) BPCD Unless Noted Crude 212,000 Vacuum Distillation 67,900 Coking 28,500 Catalytic Cracking 51,800 Catalytic Reforming 76,500 Catalytic Hydrocracking 36,100 Catalytic Hydrotreating 179,500 NHT 64,600 DHT 75,500 KHT GOHT/VGOHT GDU 39,400 ADS Alkylation 12,400 Polymerization/ Dimerization Aromatics 3,100 Isomerization 15,200 Cumene Coke (Short Tons per Day) 1,473 Sulfur (Long Tons per Day) 172 Asphalt PADD II (1) As of Jan. 1, 2016 Robinson, Illinois Crude oil capacity: 212,000 bpcd MPC s Robinson refinery was built in 1906 by the Lincoln Oil Company and purchased by MPC (then The Ohio Oil Company) in Today, the refinery has a full conversion processing scheme designed to maximize production of gasoline and diesel fuel. Crude Oil Supply: Sweet and sour crude oils Operations: Crude distillation, catalytic cracking, hydrocracking, hydrotreating, coking, reforming, alkylation, aromatics extraction, isomerization and sulfur recovery Products: Gasoline, distillates, propane, anode-grade coke, aromatics and slurry Product Distribution: Pipeline, transport truck and rail Employees: Approximately 725 Awards & Recognition: u 2015 Monarch Sustainer of the Year Award from the United States Business Council for Sustainable Development and the Pollinator Partnership u 2015 Southern Illinois Occupational Safety and Health Governor s Award for Contributions in Health and Safety u : ENERGY STAR certification u Four Wildlife Habitat Council certified sites u 2014 Occupational Safety and Health Administration (OSHA) Voluntary Protection Program Participants Association (VPPPA) National Innovation Award u 2013 Outstanding Behavior-Based Safety Outreach Award u 2013 and 2015: OSHA VPPPA National Safety and Health Outreach Award u 2011 Wings Over Wetlands Award u 2009 OSHA VPPPA National and 2013 VPPPA Regional Voluntary Protection Program (VPP) Outreach Award u 2008 OSHA VPP Best Practice Award for refinery s contractor behavior-based safety program u 2007-present: Responsible Care Management System Certification u 2005-present: Cambridge Center for Behavioral Studies (CCBS) - Behavioral Safety Accreditation and 2015 inaugural CCBS Platinum Accreditation u 1999-present: OSHA VPP Star Site u American Fuel and Petrochemical Manufacturers Safety Awards

12 10 Refining Overview Detroit, Michigan Crude oil capacity: 132,000 bpcd MPC s Detroit refinery was acquired with the purchase of Aurora Gasoline Company by MPC (then The Ohio Oil Company) in It is the only petroleum refinery operating in Michigan. In 2012, the company completed the Detroit Heavy Oil Upgrade Project (DHOUP) that enabled the refinery to process up to an additional 80,000 bpd of heavy sour crude oils, including Canadian crude oils. The project was completed with a world-class safety record and added more than 400,000 gallons per day of clean transportation fuels to the marketplace. Crude Oil Supply: Sweet and heavy sour crude oils Operations: Crude distillation, catalytic cracking, hydrotreating, reforming, alkylation, sulfur recovery and coking Products: Gasoline, distillates, asphalt, fuel-grade coke, chemical-grade propylene, propane, slurry and sulfur Product Distribution: Pipeline, transport truck, rail and barge Employees: Approximately 530 Awards & Recognition: u 2010-present: Michigan Occupational Safety and Health Administration (MIOSHA) Voluntary Protection Program Star Site u First refining facility in the world to receive Responsible Care certification for its health, environment, safety and security systems u 2010 American Chemisty Council Energy Efficiency Award u 2010 and 2012 American Fuel and Petrochemical Manufacturers Distinguished Safety Award u 2010 Norfolk Southern s Thoroughbred Chemical Safety Award u : U.S. Environmental Protection Agency ENERGY STAR facility u 2012 MIOSHA Platinum Award winner for safety u 2011-present: Behavior-Based Safety Program certified by the Cambridge Center for Behavioral Studies Refinery Unit & Production Capacity (1) BPCD Unless Noted Crude 132,000 Vacuum Distillation 73,600 Coking 28,500 Catalytic Cracking 38,000 Catalytic Reforming 20,400 Catalytic Hydrocracking Catalytic Hydrotreating 123,500 NHT 31,800 DHT 43,700 KHT 6,700 GOHT/VGOHT 41,300 GDU ADS Alkylation 6,700 Polymerization/ Dimerization Aromatics Isomerization Cumene Coke (Short Tons per Day) 2,006 Sulfur (Long Tons per Day) 391 Asphalt 21,900 PADD II (1) As of Jan. 1, 2016

13 Refining Overview 11 Refinery Unit & Production Capacity (1) BPCD Unless Noted Crude 93,000 Vacuum Distillation 33,300 Coking Catalytic Cracking 24,700 Catalytic Reforming 20,400 Catalytic Hydrocracking Catalytic Hydrotreating 89,800 NHT 29,000 DHT 22,300 KHT 12,800 GOHT/VGOHT 25,700 GDU ADS Alkylation 7,100 Polymerization/ Dimerization Aromatics Isomerization Cumene Coke (Short Tons per Day) Sulfur (Long Tons per Day) 88 Asphalt 14,100 PADD II (1) As of Jan. 1, 2016 Canton, Ohio Crude oil capacity: 93,000 bpcd MPC s Canton refinery, built in 1931 by Allegheny-Arrow Oil Company, was acquired by Ashland Inc. in 1948 when it merged with Allied Oil Company. The refinery became a part of MPC s refining system in 1998 and has been fully owned by MPC since The refinery is a moderate conversion plant with a processing configuration that enables it to run heavy sour crudes as well as sweet crudes. In 2014, the company completed construction of a condensate splitter, which increased the refinery s capacity to process condensate from the Utica Shale region. Crude Oil Supply: Sweet and sour crude oils including production from the nearby Utica Shale Operations: Crude distillation, catalytic cracking, hydrotreating, reforming, alkylation and sulfur recovery Products: Gasoline, distillates, asphalt, roofing flux, refinery-grade propylene, propane and slurry Product Distribution: Pipeline, transport truck and rail Employees: Approximately 370 Awards & Recognition: u : U.S. Environmental Protection Agency ENERGY STAR facility u 2007, 2009, 2010 and 2012: American Chemistry Council (ACC) Energy Efficiency Award u 2004, 2007 and : American Fuel and Petrochemical Manufacturers Award for Safety Achievement u Cambridge Center for Behavioral Studies Gold Level Certification u : ACC Det Norske Veritas Management System Certificate u 2004, 2006, 2007, : Stark County Safety Council Special Award

14 12 Refining Overview Texas City, Texas Crude oil capacity: 86,000 bpcd MPC s Texas City refinery was built in 1931 and was acquired by MPC (then The Ohio Oil Company) in 1962 from Plymouth Oil Company. The refinery is located off the entrance to the Houston Ship Channel. Crude Oil Supply: Light sweet crude oils Operations: Crude distillation, catalytic cracking, alkylation, reforming, aromatics extraction and sulfur recovery Products: Gasoline, chemical-grade propylene, propane, aromatics, slurry and dry gas Product Distribution: Pipeline, barge and rail Employees: Approximately 280 Awards & Recognition: u 2012 Occupational Safety and Health Administration Voluntary Protection Program Star Site (recertified in 2015) u 2006, 2008, : U.S. Environmental Protection Agency ENERGY STAR facility u 2009 and 2012 Responsible Care Management System certification u : Texas Chemical Council Excellence in Caring for Texas Award for demonstrating commitment in community awareness, emergency response, pollution prevention and security u 2014 Behavior-Based Safety Program certified by the Cambridge Center for Behavioral Studies Refinery Unit & Production Capacity (1) BPCD Unless Noted Crude 86,000 Vacuum Distillation Coking Catalytic Cracking 55,600 Catalytic Reforming 10,500 Catalytic Hydrocracking Catalytic Hydrotreating NHT DHT KHT GOHT/VGOHT GDU ADS Alkylation 13,800 Polymerization/ Dimerization Aromatics 2,800 Isomerization Cumene Coke (Short Tons per Day) Sulfur (Long Tons per Day) 34 Asphalt PADD III (1) As of Jan. 1, 2016

15 Refining Overview Refinery Throughput and Consolidated Sales Crude Throughput 1,711 mbpd U.S. 67% CANADIAN 14% OTHER INTERNATIONAL 19% Other Feedstocks 1,919 mbpd 177 mbpd Refinery yields mbpd purchased for resale Saleable Product 2,331 mbpd GASOLINE 1,247 DISTILLATE 673 ASPHALT 60 OTHER 351 Sales 35 bgal MARATHON BRAND 14% SPEEDWAY 17% WHOLESALE/SPOT 52% ASPHALT & OTHER 17% mbpd = thousand barrels per day bgal = billions of gallons

16 14 Marketing Marathon Brand Marathon brand gasoline is available through approximately 5,600 retail outlets in 19 states in the Midwest and Southeast. There are approximately 300 retail outlet contract assignments primarily in the Southeast and select Northeast states. Marathon brand retail outlets are owned and operated by independent entrepreneurs. In addition to quality MPC gasoline and diesel, these retail outlets offer a wide range of services including convenience store products, car washes and co-branded food products. During 2015, Marathon brand retail outlets sold approximately 5.02 billion gallons of transportation fuels

17 Marketing 15 Wholesale Marketing MPC is a large wholesale supplier of gasoline and distillate to resellers and consumer end-users within its market area. Independent retailers, unbranded jobbers, airlines, transportation companies, railroads, marine companies and utilities form the core of MPC s wholesale customer base. Light product sales are made at 61 company-owned and -operated, and 120 third-party terminals throughout 15 states. Asphalt, Coke and Heavy Fuel Oil Marketing MPC is one of the largest U.S. asphalt producers in terms of capacity. The company markets asphalt through 18 company-owned and -operated and two third-party terminals located throughout the Midwest and Southeast that are supplied by four of MPC s refineries (Garyville, Catlettsburg, Detroit and Canton). The MPC customer base includes asphalt paving contractors, government entities (states, counties, cities and townships) and asphalt roofing shingle manufacturers. MPC produces and markets heavy residual fuel oil or related components, including slurry, at all of our refineries. In addition, MPC produces fuel-grade coke at our Garyville, Detroit and Galveston Bay refineries, which is used for power generation and in miscellaneous industrial applications, and anode-grade coke at our Robinson refinery, which is used to make carbon anodes for the aluminum smelting industry. Special Products Marketing MPC is a producer and marketer of various feedstocks and specialty products. Product availability varies by refinery and includes platformate, alkylate, FCCU gas, naptha, dry gas, propylene, raffinate, butane, benzene, xylene, molton sulfur, cumene and toluene. These products are marketed domestically to customers in the chemical, agricultural and fuel-blending industries.

18 16 Speedway Speedway LLC Headquartered in Enon, Ohio, Speedway is the second-largest chain of companyowned and -operated gasoline and convenience stores in the U.S. Speedway has approximately 2,770 convenience stores in 22 states. Speedway pledges to be The Customer s First Choice for Value and Convenience. Speedway s customer focus has resulted in a high level of customer satisfaction. In 2012, Speedway was presented with the Convenience Retailing Award from CSP Information Group Inc. for consumer experience provided by the Speedy Rewards Program. Speedway s marketing strategy and execution have resulted in significant success in the marketplace. Speedy Rewards, a highly successful customer loyalty program, has built average monthly active membership to more than 4.7 million customers. During 2015, Speedway sold approximately 6.04 billion gallons of transportation fuels and an additional $4.88 billion in merchandise. Speedway owns 105 transport trucks and 83 trailers for the movement of gasoline and distillate Conn. 1 Del. 4 Mass. 114 N.J. 72 R.I

19 Terminal, Transport and Rail 17 Transport and Rail TT&R also operates a private fleet of 173 company-owned trucks for delivering crude oil and refined products. Most of the units are used to haul transportation fuels such as gasoline, diesel and jet fuel. The group also hauls crude oil, condensate, ethanol, molten sulfur, asphalt and residual fuel oil. TT&R coordinates all for-hire carrier transportation for all MPC marketing organizations. The fleet transported an average of 136 mbpd of crude oil and refined products in TT&R also manages MPC s rail transportation, including coordinating railcar movements, arranging the procurement of new cars, maintenance of railcars and rail rate negotiations. MPC maintains 2,210 owned or leased railcars in its fleet. Terminals The Terminal, Transport and Rail (TT&R) organization is responsible for MPC s product distribution facilities and operations. This includes light product and asphalt terminals. In both categories, MPC is one of the largest terminal operators in the U.S. Sixty-one company-owned and -operated, one leased, two part-owned and non-operated, and 120 third-party light product terminals receive and store products, load trucks and blend products to meet specifications. In 2015, our company-owned and -operated light products terminals averaged 1,410 mbpd of throughput. Our 18 company-owned and -operated asphalt terminals, along with two third-party asphalt terminals, not only store products and load trucks, but also blend heavy fuel oils and manufacture emulsions and polymer grades of asphalt. Our asphalt terminals averaged 32 mbpd of throughput in To help meet changing customer demand and support the nation s renewable fuels goals, MPC upgraded all of its light products terminal loading racks throughout the Midwest and Southeast to be capable of 100 percent ethanol-blended fuel (E-10 gasohol). Ethanol volumes sold in blended gasoline were approximately 1.30 billion gallons in The company has terminal rack blending capability across all of its markets. Rack blending allows MPC to blend ethanol to designated product specification levels. Terminals are equipped with an MPCdeveloped system that withholds the bill of lading on any load that fails to meet acceptable tolerances for additives or blend components. The effort complements MPC s substantial existing program of screening product samples for quality control.

20 18 Midstream Midstream MPC s Midstream segment includes the operations of MPLX, which transports crude oil and other feedstocks to MPC s refineries and other locations; delivers refined products to wholesale and retail market areas; gathers, processes and transports natural gas; and transports, fractionates, stores and markets NGLs. MPC owns, leases or has ownership interests in approximately 8,400 miles of crude oil and products pipelines, of which approximately 2,900 miles are owned through MPC s investments in MPLX. MPC also has partial ownership interests in several pipeline companies. MPC delivered approximately 2.19 million barrels of crude oil and petroleum products daily through its common carrier pipelines in Also through investments in MPLX, MPC owns more than 5,000 miles of gas gathering and NGL pipelines and has ownership interests in more than 50 processing plants, more than 10 NGL fractionation facilities and one condensate stabilization facility. In 2015 (1), 5,468 million cf/d of natural gas was processed with 307 million bpd of ethane and NGLs fractionated. MPC has a 50 percent ownership interest in a joint venture with Crowley Maritime Corporation through our investment in Crowley Ocean Partners to operate and charter four new Jones Act product tankers, most of which will be leased to MPC. Two of the four vessels have been delivered with the remaining two scheduled to be delivered in (1) Beginning Dec. 4, 2015, which was the effective date of the MarkWest merger

21 MPLX 19 Crude Oil and Products Pipelines Barge Dock Tank Farms Butane Cavern MarkWest Complex MPC Refineries Marine Repair Facility MPLX LP MPLX is a publicly traded master limited partnership formed by MPC to own, operate, develop and acquire pipelines and other midstream assets related to the transportation and storage of crude oil, refined products and other hydrocarbonbased products. In 2015, MPLX merged with MarkWest, whereby MarkWest became a wholly owned subsidiary of MPLX. MarkWest is one of the largest processors of natural gas in the U.S. and the largest processor and fractionator in the Marcellus and Utica shale plays. The company s midstream energy operations include: natural gas gathering, processing and transportation; NGL gathering, transportation, fractionation, storage and marketing; and crude oil and refined products transportation and storage. Its integrated midstream energy asset network links producers of natural gas, natural gas liquids and crude oil from some of the largest supply basins in the United States to domestic and international markets. Through the MarkWest combination, MPLX assets include approximately 5,400 million cf/d of gathering capacity, 7,100 million cf/d of natural gas processing capacity, and 500 mbpd of NGL fractionation capacity and more than 5,000 miles of gas gathering and NGL pipelines. MPLX assets also include 100 percent ownership of common carrier pipeline systems through Marathon Pipe Line LLC (MPL) and Ohio River Pipe Line LLC (ORPL), and a 1 million barrel butane storage cavern in West Virginia. MPLX, through MPL and ORPL, owns, leases and operates 1,008 miles of common carrier crude oil lines and 1,900 miles of common carrier products lines located in nine states as well as four tank farms in Illinois and Indiana with available storage capacity of 4.53 million barrels that is committed to MPC. MPLX s inland Marine operations (1) include 18 owned towboats and one leased towboat and a fleet of 205 owned and 14 leased barges. All cargoes transported are liquid and include, among other commodities, crude oil, asphalt, gasoline, diesel fuel, vacuum gas oil, condensate, feedstocks, chemicals and ethanol. (1) Effective March 31, 2016

22 20 MPC Assets Marketing Area Light Product Terminals MPC Owned and Part-owned Third Party Asphalt/Heavy Oil Terminals MPC Owned Third Party Water Supplied Terminals Coastal Inland Pipelines MPC Owned & Operated MPC Interest: Operated by MPC MPC Interest: Operated by Others Pipelines Used by MPC Ethanol Facility Biodiesel Facility MPC Refineries Crude Oil and Products Pipelines Barge Dock Tank Farms Butane Cavern MarkWest Complex

23 21 Glossary bpcd barrels per calendar day cf/d cubic feet per day Long Tons 2,240 lbs. LOOP Louisiana Offshore Oil Port mbpd thousand barrels per day mmbpd million barrels per day NGL natural gas liquids PADD Petroleum Allocation for Defense District Short Tons 2,000 lbs. TT&R Terminal, Transport and Rail VPP Voluntary Protection Program Investor Relations Office 539 South Main Street Findlay, OH Lisa Wilson Director, Investor Relations Teresa Homan Manager, Investor Relations ADS DHT GDU GOHT/VGOHT KHT NGL NHT Aromatics Desulfurization Distillate Hydrotreating Gasoline Desulfurization Gas Oil Hydrotreating Kerosene Hydrotreating Natural Gas Liquids Naphtha Hydrotreating Public Affairs Office 539 South Main Street Findlay, OH Forward-Looking Statements This publication contains forward-looking statements within the meaning of federal securities laws. These forward-looking statements relate to, among other things, expectations, estimates and projections concerning the business and operations of MPC. You can identify forward-looking statements by words such as anticipate, believe, design, estimate, objective, expect, forecast, goal, guidance, imply, intend, objective, opportunity, outlook, plan, position, potential, predict, project, seek, target, 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 companies control and are difficult to predict. Factors that could cause MPC s actual results to differ materially from those implied in the forward-looking statements include: risks relating to MPLX LP and the MPLX/MarkWest merger transaction; changes to the expected construction costs and timing of pipeline projects; continued/further 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; the effects of the lifting of the U.S. crude oil export ban; 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; MPC s ability to successfully implement growth opportunities; modifications to MPLX earnings and distribution growth objectives; federal and state environmental, economic, health and safety, energy and other policies and regulations, including the cost of compliance with the Renewable Fuel Standard; MPC s ability to successfully integrate the acquired Hess retail operations and achieve the strategic and other expected objectives relating to the acquisition; changes to MPC s capital budget; other risk factors inherent to MPC s industry; and the factors set forth under the heading Risk Factors in MPC s Annual Report on Form 10-K for the year ended Dec. 31, 2015, filed with Securities and Exchange Commission (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, MPC s website at or by contacting MPC s Investor Relations office.

24 Marathon Petroleum Corporation 539 South Main Street Findlay, OH QUICK FACTS 2015 Sales: 2,289 mbpd Refineries: Seven Refining Capacity: 1,794,000 bpcd 2015 Total Pipeline Throughput: 2,191 mbpd Product Sales Network: ~5,600 Marathon brand retail outlets ~300 retail outlet contract assignments primarily in the Southeast and select Northeast states ~2,770 Speedway convenience stores Voluntary Protection Programs An OSHA Cooperative Program Rev. 3/16