MPLX

MPLX LP operates energy infrastructure that moves oil, gas, and refined products across America. The company manages pipelines, terminals, and storage facilities that connect energy producers with consumers. MPLX provides essential services that keep fuel flowing to homes, businesses, and transportation networks.

The Pipeline Portfolio

Crude Oil Logistics: Pipeline networks, storage facilities, and marine transport services moving crude oil from production sites to refineries, contributing to the 88% of Crude Oil and Products Logistics segment revenues from Marathon Petroleum in CY2024.

Natural Gas Services: Gathering, processing, and transportation systems that collect natural gas from wells and prepare it for market use.

NGL Operations: Facilities that separate, store, and transport natural gas liquids like propane and ethane used in heating and manufacturing.

Refined Products: Services for gathering, transportation, storage and distribution of refined products and other hydrocarbon-based products.

Marine Transport: Fleet of boats and barges that move petroleum products along inland waterways in the Mid-Continent and Gulf Coast regions.

Building the Energy Highway

Formed in 2012 by Marathon Petroleum Corporation as a master limited partnership to own and operate midstream assets.

Expanding Permian Basin operations through a new fractionation complex (expected in-service 2028-2029) and LPG export terminal (expected in-service 2028), strengthening the Gulf Coast value chain.

Developed extensive infrastructure network across key U.S. energy regions to support both domestic and international logistics.

Established long-term, fee-based agreements with Marathon Petroleum to create stable revenue streams.

What Makes MPLX Stand Out

MPLX benefits from its strategic relationship with Marathon Petroleum, which owns approximately 64% of MPLX's common units and provides 49% of total revenues and other income as of CY2024. As of December 31, 2024, the company's extensive network of 14,766 miles of pipelines, 88 terminals, and storage facilities creates an integrated system that spans major U.S. energy corridors.

Five Things You Need to Know

Marathon Petroleum accounted for 49% of MPLX's total revenues in CY2024.

The Crude Oil and Products Logistics segment generated 88% of its revenue from Marathon Petroleum in FY2024.

As of December 31, 2024, MPLX operates 10.2 Bcf/d of gas gathering capacity and 12.4 Bcf/d of processing capacity.

As of December 31, 2024, the company maintains 829 mbpd of fractionation and de-ethanization capacity.

MPLX declared a distribution of $0.9565 per common unit in February 2025.

Bottom Line

MPLX operates critical energy infrastructure through fee-based services. The company's strategic relationship with Marathon Petroleum provides revenue stability while its expanding asset base supports long-term growth opportunities.