Finally, Heminger took time to call out the five-year anniversary of Marathon's spinoff of MPLX.
MPLX is a master limited partnership (MLP) that MPC formed in 2012 to own, operate, develop and acquire midstream energy infrastructure assets.
"MPLX has delivered an impressive 20 consecutive quarters of increased cash distributions for unitholders representing a compound annual growth rate of 18.3% over the minimum quarterly distribution established at the partnership's formation," Heminger said.
Earlier this year, Standard & Poor's recognized MPLX's strong credit profile by upgrading the partnership's credit rate to BBB plus.
Enon, Ohio-based Marathon Petroleum Corp. (MPC) is the nation's second-largest refiner, with a crude-oil refining capacity of about 1.9 million barrels per calendar day in its six-refinery system. Marathon brand gasoline is sold through about 5,600 independently owned retail outlets across 20 states and the District of Columbia. Speedway LLC, an MPC subsidiary, operates about 2,740 convenience stores in 21 states and ranked No. 3 on CSP's Top 202 list of the largest c-store chains in the United States.