Marathon Petroleum’s Revenue by End-Market (2016-2021)

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This statistic highlights Marathon Petroleum’s Revenue by End-Market, split between Intersegment and Third Party segments, reported on a quarterly basis from Q1 2016 onwards.
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This statistic highlights Marathon Petroleum’s Revenue by End-Market, split between Intersegment and Third Party, reported on a quarterly basis from Q1 2016 onwards.

Marathon Petroleum’s Revenue by End-Market

End-Market Q3 2020 Q2 2021 Q3 2021 Contribution in Q3 2021
Third Party $17.41 $29.62 $32.32 96.2%
Intersegment $1.26 $1.28 $1.28 3.8%
Total $18.66 $30.89 $33.60 100.0%

(All figures in billions, except percentages)

Marathon Petroleum’s total revenue grew from $18.66 billion in Q3 2020 to $33.60 billion in Q3 2021, registering a growth of 80% on a year-on-year basis. It also increased from $30.89 billion in Q2 2021 to $33.60 billion in Q3 2021, marking a growth of 8.8% on a quarter-on-quarter basis.

Based on End-Market, Marathon Petroleum’s revenue can be bifurcated as:

Third Party

Third Party transactions account for the majority share of Marathon Petroleum’s revenue, with its share being 96.2% in Q3 2021. The company generates revenue from external customers primarily through 2 segments: Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstock at the company’s refineries in the Gulf Coast, Midwest, and west coast areas of the United States. It also purchases refined products and ethanol for resale and distributes them across the US through the help of Midstream Segment.  It includes the revenue the company generates through the sale of Refined Products, Crude Oil, Services among others. Midstream Segment transports, stores, distributes, and markets crude oil primarily for the refining & marketing segment.

The revenue through Third Party grew from $17.41 billion in Q3 2020 to $32.32 billion in Q3 2021, registering a growth of 85.7% on a year-on-year basis. It also increased from $29.62 billion in Q2 2021 to $32.32 billion in Q3 2021, marking a growth of 9.1% on a quarter-on-quarter basis.

Intersegment

Intersegment transactions account only for a small percentage of the company’s revenue with its share being 3.8% in Q3 2021. These revenues are eliminated in consolidation and are a result of agreements that the company has with MPLX. The volume commitments under such agreements are included as intersegment transactions between Refining & Marketing Segment and Midstream segment while agreements related to management & operational services are included as intersegment transactions between Midstream segment and Corporate segment.

The revenue through Intersegment grew from $1.26 billion in Q3 2020 to $1.28 billion in Q3 2021, registering a growth of 1.9% on a year-on-year basis. It also increased from $1.278 billion in Q2 2021 to $1.279 billion in Q3 2021, marking a growth of 0.1% on a quarter-on-quarter basis.

About the Company

Marathon petroleum is the largest refinery operator in the U.S.A. with 16 petroleum refineries in the US.  Its operations include refining, marketing and transporting petrol. The company is traded on the New York Stock Exchange with the ticker MPC. Based on total revenue, it is ranked 41 among the Fortune 500 companies. In October, 2018, the company acquired Andeavour pushing its total refining capacity to as high as 3 million barrels per day. Some of the key competitors of the company are Phillips 66, Valero Energy, HollyFrontier,  Shell, and Delek US Holdings.

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