MPLX LP (MPLX) began trading on NYSE on October 26, 2012 and is a master limited partnership formed by Marathon Petroleum Corporation (MPC). The company’s assets consist of a network of common carrier crude oil and product pipeline systems, and associated crude oil and product storage assets in the Midwest and Gulf Coast regions of the U.S.
MPLX owns, leases or has ownership interest in approximately 2,900 miles of pipeline across nine states. This network of petroleum pipelines is one of the largest in the U.S., based on total annual volumes delivered.
Additionally, the company owns and operates a barge dock facility located on the Mississippi River near Wood River, Ill., with approximately 84,000 barrels-per-day of crude oil and product throughput capacity. MPLX also has several crude oil and product storage facilities (tank farms) located in Patoka, Wood River and Martinsville, Ill., and Lebanon, Ind., with approximately 3.3 million barrels of available storage capacty and a butane storage cavern located in Neal, W. Va., with one million barrels of working capacity that serves MPC’s Catlettsburg, Ky., refinery.
MPLX’s operations are strategically located within MPC’s refining and marketing supply network, and are positioned to provide MPC with a continued logistical competitive advantage.