Message from 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 1.7 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 that the size and reach of our refining, marketing and transportation network, our brand strength, and the convenience and reliability we bring to our consumers have been the keys to the success and strong financial performance of our business.
Our strategy as an independent company is to maximize the profitability of our operations by (1) continuing to develop opportunities for expansion and asset upgrading and (2) pursuing opportunities to expand our operating margins through development of greater flexibility in our refining feedstocks and through production of more high-value-added end products. We believe that our strengths, including our coordinated network of refineries, our extensive network of pipelines, terminals and other distribution facilities, our competitively positioned retail-marketing locations and our operating expertise enables us to deliver competitive returns to our stockholders. We are very excited about our prospects and believe we are better positioned to realize the growth opportunities for our business as an independent company.
I invite you to learn more about Marathon Petroleum Corporation by reviewing the information on this website. We are proud to be an independent, publicly traded company and look forward to rewarding your loyalty as a holder of Marathon Petroleum Corporation common stock.
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 contains forward-looking statements relating to MPC's operations based on management's current expectations, estimates and projections about the petroleum industry and the economy. Words such as "anticipates," "expects," "intends," "plans," "targets," "projects," "believes," "seeks," "schedules," "estimates," "budgets" and similar expressions are intended to identify such forward-looking statements. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond the company's control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on forward-looking statements, which speak only as of the date of this publication. Unless legally required, MPC undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices; changing refining and marketing margins; actions of competitors or regulators; timing of expenses; potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant investment or product changes under existing or future environmental statutes, regulations and litigation; the potential liability resulting from other pending or future litigation; the company's future acquisition or disposition of assets and gains and losses from asset dispositions or impairments; government-mandated sales, divestitures, recapitalizations, industry-specific taxes, changes in fiscal terms or restrictions on scope of company operations; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; and the factors set forth under the heading "Risk Factors" in MPC's Form 10, General Form For Registration Of Securities Pursuant To Section 12(B) Or 12(G) Of The Securities Exchange Act Of 1934, effective as of June 6, 2011 ("Form 10"). In addition, such statements could be affected by general domestic and international economic and political conditions. Unpredictable or unknown factors not discussed in MPC's Form 10 could also have material adverse effects on forward-looking statements. Copies of MPC's Form 10 are available at www.marathonpetroleum.com or by contacting MPC's Investor Relations Office at 419-422-2121.