Message from Chairman, President and CEO
It is my pleasure to welcome you to the Marathon Petroleum Corporation website. We are one of the largest independent petroleum product refiners and marketers in the United States and one of the largest operators of company-owned and operated retail gasoline outlets in the United States, and we own one of the largest terminal and pipeline systems in the United States. We own and operate seven refineries, located in the Midwest and Gulf Coast regions of the United States, with an aggregate crude oil refining capacity of approximately 1.8 million barrels per day. We sell our refined products to wholesale customers, including private-brand marketers and large commercial and industrial consumers, and we also distribute our refined products through a large network of retail stores and stations. We have an extensive distribution network, which we use to deliver crude oil and other feedstocks to our refineries and refined products to wholesale and retail market areas. We believe the efficiency, flexibility and optionality in our integrated system allows us to capture opportunities in the markets we serve and have been the keys to the success and strong financial performance of our business.
Our strategy focuses on growing our higher-value, stable cash-flow midstream and retail segments of the business while enhancing refining margins. We balance these investments in the business with returning capital to shareholders through dividends and share repurchases. In addition, we remain committed to operating our assets in a safe and reliable manner, targeting continuous improvement across all operations.
We are excited about our prospects and remain confident in our ability to deliver long-term value for our shareholders.
I invite you to learn more about Marathon Petroleum Corporation by reviewing the information on this website.
Gary R. Heminger
Cautionary Statement Relevant to Forward-Looking Information for the Purpose of "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995
This publication includes forward-looking statements. You can identify our forward-looking statements by words such as “anticipate,” “believe,” “design,” “estimate,” “expect,” “forecast,” “goal,” "guidance," “imply,” “intend,” “objective,” “opportunity,” “outlook,” "plan,“ “position,” “pursue,” “prospective,” “predict,” “project,” "potential," “seek,” “strategy,” “target,” “could,” “may,” “should,” “would,” “will” or other similar expressions that convey the uncertainty of future events or outcomes. We have based our forward-looking statements on our current expectations, estimates and projections about our industry and our company. We caution that these statements are not guarantees of future performance and you should not rely unduly on them, as they involve risks, uncertainties and assumptions that we cannot predict. In addition, we have based many of these forward-looking statements on assumptions about future events that may prove to be inaccurate. While our management considers these assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. Accordingly, our actual results may differ materially from the future performance that we have expressed or forecast in our forward-looking statements. In accordance with “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, we have included in our Form 10-K for the year ended Dec. 31, 2016, cautionary language identifying important factors, though not necessarily all such factors, that could cause future outcomes to differ materially from those set forth in the forward-looking statements. Copies of MPC's Form 10-K are available on the SEC website, MPC's website at http://ir.marathonpetroleum.com or by contacting MPC's Investor Relations office.