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2016 Press Releases

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Q3 2016 Marathon Petroleum Corporation Earnings Conference Call (Live)
10/27/16 at 9:00 a.m. ET
Q3 2016 Marathon Petroleum Corporation Earnings Conference Call
Thursday, October 27, 2016 9:00 a.m. ET  
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08/30/16Marathon Petroleum Corp. to present at Barclays' 2016 CEO Energy-Power Conference
(GLOBE NEWSWIRE via COMTEX) --FINDLAY, Ohio, Aug. 30, 2016 - On Tuesday, Sept. 6, Marathon Petroleum Corp. (NYSE: MPC) Chairman, President and Chief Executive Officer Gary R. Heminger will deliver a presentation to investors and industry analysts at Barclays' 2016 CEO Energy-Power Conference in New York City. Heminger's presentation is scheduled to begin at 11:45 a.m. EDT. The live webcast and archived presentation can be viewed on MPC's Investor Relations website, http://ir.marathonpetroleum.c... 
 
08/24/16Marathon Petroleum Corporation and MPLX LP announce MPLX senior management changes
FINDLAY, Ohio, Aug. 24, 2016 - Marathon Petroleum Corporation (NYSE: MPC) Chairman, President and Chief Executive Officer Gary R. Heminger today announced changes in the senior management structure of the general partner of MPLX LP (NYSE: MPLX), MPC's master limited partnership, and MarkWest Energy Partners, L.P., a wholly owned subsidiary of MPLX. The changes will be effective Oct. 1, 2016.John C. Mollenkopf, executive vice president and chief operating officer, MarkWest Operations, of MPLX's g... 
 
08/23/16Marathon Petroleum Corporation donates to Louisiana flood disaster relief efforts
FINDLAY, Ohio, Aug. 23, 2016 - Marathon Petroleum Corporation (NYSE: MPC) today announced that it will donate $250,000 to aid in flood recovery efforts in Louisiana. The Red Cross will receive $100,000; United Way will receive $50,000; and various local organizations with critical needs will receive the remaining $100,000."With reports of 110,000 homes damaged and over 30,000 people being rescued or displaced, recovery will take time," said MPC Chairman, President and Chief Executive O... 
 
08/02/16Marathon Petroleum Corporation agrees to equity participation in Bakken Pipeline system
FINDLAY, Ohio, Aug. 2, 2016 - Marathon Petroleum Corporation (NYSE: MPC) today announced its agreement to participate in the formation of a joint venture to invest in the Dakota Access Pipeline (DAPL) and the Energy Transfer Crude Oil Pipeline (ETCOP) projects, collectively referred to as the Bakken Pipeline system. MPC agreed to form a joint venture with Enbridge Energy Partners LP, Inc. (NYSE: EEP), through wholly owned subsidiaries, to acquire a partial equity interest in the Bakken Pipeline... 
 
07/28/16Marathon Petroleum Corporation Reports Second-Quarter 2016 Results
Reported second-quarter earnings of $801 million, or $1.51 per diluted share, including a net benefit of $0.44 per diluted share primarily related to reversal of the company's lower of cost or market inventory valuation reserve Achieved record second-quarter segment income at Speedway Increased quarterly dividend by 12.5 percent, to $0.36 per share FINDLAY, Ohio, July 28, 2016 - Marathon Petroleum Corporation (NYSE: MPC) today reported 2016 second-quarter earnings of $801 million, or $1.5... 
 
07/27/16Marathon Petroleum Corp. increases dividend 12.5 percent
FINDLAY, Ohio, July 27, 2016 - Marathon Petroleum Corporation (NYSE: MPC) announced today that its board of directors declared a dividend of $0.36 per share on common stock, a 12.5 percent increase from the $0.32 per share dividend paid in the second quarter of 2016. The dividend is payable Sept. 12, 2016, to shareholders of record as of the close of business Aug. 17, 2016."This increase in our dividend represents a compound annual growth rate of more than 29 percent from the dividend level... 
 
06/29/16Marathon Petroleum Corp. to announce 2016 second-quarter financial results July 28
FINDLAY, Ohio, June 29, 2016 - Marathon Petroleum Corporation (NYSE: MPC) will host a conference call Thursday, July 28, at 9 a.m. EDT to discuss 2016 second-quarter financial results, which will be released earlier that day, and to provide an update on company operations.MPC participants will be Gary R. Heminger, chairman, president and chief executive officer; Tim Griffith, senior vice president and chief financial officer; and other senior executives. The call will be hosted by Lisa Wilson, d... 
 
06/23/16Pilot Flying J and Speedway Enter into Joint Venture Designed to Improve Service for Drivers in the Southeast Region
KNOXVILLE, Tenn. (June 23, 2016) - Pilot Flying J and Speedway LLC (Speedway) have entered into a joint venture consisting of 120 travel plazas, primarily in the Southeast United States. The new entity, PFJ Southeast LLC, will initially consist of 41 locations contributed by Speedway and 79 locations contributed by Pilot Flying J, all of which will carry either the Pilot or Flying J brand and will be operated by Pilot Flying J. This venture will better serve guests in the high growth Southeast ... 
 
06/22/16Marathon Petroleum Corporation to present at J.P. Morgan Energy Equity Conference June 27
FINDLAY, Ohio, June 22, 2016 - On Monday, June 27, Marathon Petroleum Corporation (NYSE: MPC) Chairman, President and CEO Gary R. Heminger will deliver a presentation to investors and industry analysts at the J.P. Morgan Energy Equity Investor Conference in New York City.Heminger's presentation is scheduled to begin at 11:20 a.m. EDT. The live webcast and archived presentation can be viewed on Marathon Petroleum's Investor Relations website, http://ir.marathonpetroleum.com. The archived webcast ... 
 
04/28/16Marathon Petroleum Corporation Reports First-Quarter 2016 Results
Reported first-quarter earnings of $1 million Results include pretax charges of $0.06 per diluted share related to the impairment of goodwill and the valuation of inventories at the lower of cost or market Completed major turnaround activity and refinery light crude upgrade project Delivered strong earnings and cash flow from Speedway and Midstream segments Returned $244 million to shareholders MPLX announced a $1 billion private placement of convertible preferred securities with thi... 
 
04/27/16Marathon Petroleum Corporation Announces Dividend
FINDLAY, Ohio, April 27, 2016 - Marathon Petroleum Corporation (NYSE: MPC) announced today that its board of directors declared a dividend of $0.32 per share on common stock. The dividend is payable June 10, 2016, to shareholders of record as of the close of business May 18, 2016. On April 28, MPC will provide an update on its 2016 first-quarter results through an earnings release, to be followed by a conference call scheduled for 9 a.m. EDT that day. Interested parties may listen to the confere... 
 
04/01/16Marathon Petroleum Corp. and MPLX LP complete drop-down of inland marine assets
FINDLAY, Ohio, April 1, 2016 - Marathon Petroleum Corp. (NYSE: MPC) and MPLX LP (NYSE: MPLX) have closed the transaction in which MPC contributed its inland marine business to MPLX, effective March 31, 2016. In exchange, MPLX is issuing equity to MPC valued at $600 million, at an approximate price of $26.09 per unit, with 98 percent of the equity in the form of common units and the remainder in general partner units. MPC has agreed to waive first-quarter 2016 common unit distributions, incentive... 
 
03/30/16Marathon Petroleum Corp. to Announce 2016 First-Quarter Financial Results April 28
FINDLAY, Ohio, March 30, 2016 - Marathon Petroleum Corporation (NYSE: MPC) will host a conference call on Thursday, April 28, at 9 a.m. EDT to discuss 2016 first-quarter financial results, which will be released earlier that day, and to provide an update on company operations. MPC participants will be Gary R. Heminger, president and chief executive officer; Tim Griffith, senior vice president and chief financial officer; and other senior executives. The call will be hosted by Lisa Wilson, direct... 
 
03/14/16Marathon Petroleum Corp. and MPLX LP announce drop-down of fee-based inland marine assets contributing approximately $120 million in annual EBITDA
FINDLAY, Ohio, March 14, 2016 - Marathon Petroleum Corp. (NYSE: MPC) and MPLX LP (NYSE: MPLX) have executed definitive agreements for the contribution of MPC's inland marine business to MPLX. In exchange, MPLX will issue equity to MPC valued at $600 million. MPLX expects 98 percent of the equity to be issued in the form of common units and the remainder in general partner units, at an approximate price of $26.09 per unit.The total transaction consideration represents an implied multiple of appro... 
 
02/24/16Usher to retire as Marathon Petroleum chairman; Heminger to succeed
FINDLAY, OHIO, Feb. 24, 2016 - Thomas J. Usher, chairman of the board of Marathon Petroleum Corporation (NYSE: MPC) announced today that he will retire following the company's Annual Meeting of Shareholders on April 27, 2016. MPC's Board of Directors has elected Gary R. Heminger, the company's president and chief executive officer, to succeed Usher as chairman in addition to his current duties when the meeting ends."Tom has been an invaluable contributor to our company's success, providing ... 
 
02/16/16Marathon Petroleum Corporation to Present at Credit Suisse Energy Summit
FINDLAY, Ohio, Feb. 16, 2016 - On Tuesday, Feb. 23, Marathon Petroleum Corporation's (NYSE: MPC) President and CEO Gary R. Heminger will deliver a presentation to investors and industry analysts at the Credit Suisse 2016 Energy Summit in Vail, Colo. Heminger's presentation is scheduled to begin at 8 a.m. MST (10 a.m. EST). The live webcast and archived presentation can be viewed on Marathon Petroleum's Investor Relations website, http://ir.marathonpetroleum.com. The archived webcast and presenta... 
 
02/03/16Marathon Petroleum Corporation Reports Fourth-Quarter and Full-Year 2015 Results
Reported fourth-quarter earnings of $187 million ($0.35 per diluted share), including a pretax charge of $370 million ($0.44 per diluted share) to value inventories at the lower of cost or market; full-year earnings of $2.85 billion ($5.26 per diluted share) Completed strategic combination between MPLX and MarkWest Returned $1.6 billion to shareholders in 2015, including $362 million in the fourth quarter FINDLAY, Ohio, Feb. 3, 2016 - Marathon Petroleum Corporation (NYSE: MPC) today reported 2... 
 
02/01/16Marathon Petroleum Corporation Announces 2016 Annual Meeting of Shareholders
FINDLAY, Ohio, Feb. 1, 2016 - Marathon Petroleum Corporation (NYSE: MPC) announced today that its 2016 annual meeting of shareholders will take place at the company's headquarters in Findlay, Ohio, on April 27, 2016 at 10 a.m. EDT.In addition, the company announced that Feb. 29, 2016, has been fixed as the record date for determination of the shareholders of the company entitled to notice of, and to vote at, the annual meeting.  ### About Marathon Petroleum CorporationMPC is the nation's fourth-... 
 
02/01/16Marathon Petroleum Corporation Announces Dividend
FINDLAY, Ohio, Feb. 1, 2016 - Marathon Petroleum Corporation (NYSE: MPC) announced today that its board of directors declared a dividend of $0.32 per share on common stock. The dividend is payable March 10, 2016, to shareholders of record as of the close of business Feb. 17, 2016.On Feb. 3, MPC will provide an update on its 2015 fourth-quarter and full-year results through an earnings release, to be followed by a conference call scheduled for 10 a.m. EST that day. Interested investors can listen... 
 
01/27/16Marathon Petroleum Corp. vice president, general counsel and secretary to retire
FINDLAY, Ohio, Jan. 27, 2016 - J. Michael Wilder, vice president, general counsel and secretary, will retire from Marathon Petroleum Corp. (MPC) effective March 1. Suzanne Gagle, currently an assistant general counsel, will assume the role of vice president and general counsel, and Molly Benson, also an assistant general counsel, will assume the role of vice president, corporate secretary and chief compliance officer.Wilder joined Ashland Petroleum Co. as a staff attorney in 1978, and held sever... 
 
01/13/16Marathon Petroleum Corp. to Announce 2015 Fourth-Quarter and Full-Year Financial Results Feb. 3
FINDLAY, Ohio, Jan. 13, 2016 - Marathon Petroleum Corp. (NYSE: MPC) will host a conference call on Wednesday, Feb. 3, at 10 a.m. EST to discuss 2015 fourth-quarter and full-year financial results, which will be released earlier that day, and to provide an update on company operations.MPC participants will be Gary R. Heminger, president and chief executive officer; Tim Griffith, senior vice president and chief financial officer; and other senior executives. The call will be hosted by Lisa Wilson,... 
 
01/07/16Marathon Petroleum Corp. Senior Vice President Richard D. Bedell to retire
FINDLAY, Ohio, Jan. 7, 2016 - Marathon Petroleum Corp. (NYSE: MPC) today announced the retirement of Richard D. Bedell, senior vice president of Refining, effective March 1. Raymond L. Brooks, currently general manager of MPC's Galveston Bay refinery in Texas City, Texas, will replace Bedell.Bedell joined Marathon in 1979 and held numerous positions of increasing responsibility in the company, including serving as general manager of MPC's refineries in Garyville, La., Robinson, Ill., and Texas C... 
 

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