Marathon

Marathon cuts capital expenditures by nearly half to combat the pandemic in 2021. The company was still having a tough year, halted by a massive sale in August 2020. Marathon sells Speedway, a gas station network, with a 15-year contract with buyer 7Eleven.

Marathon CEO Michael Hennigan said the $21 billion deal helped the company meet its asset disclosure obligations. Marathon's unadjusted profit, including speedway revenue, fell from $11.1 billion a year ago to $4.4 billion in 2020. Most of the decline occurred in the company's downstream segments, with net income for the year rising from $2.8 billion to $5.1 billion in losses.

In April 2020 Marathon set a target of reducing emissions per barrel of oil by 30% by 2030. Since then, more refineries have switched from plant-based products to “renewable diesel” and started using energy-efficient equipment.

Founded: November 9, 2009
Headquarters: Findlay, Ohio, United States
Market cap: $38.51 Billion As of December 2021
Revenue: $70bn in 2020
Website: https://www.marathonpetroleum.com/