Exhibit 99.1

Marathon Petroleum Reports Second Quarter Results

FINDLAY, Ohio, Aug. 2, 2011 – Marathon Petroleum Corporation (NYSE: MPC), an independent refining, marketing and transportation company spun off from Marathon Oil Corporation (NYSE: MRO) on June 30, 2011, today reported second quarter net income of $802 million, or $2.24 per diluted share, compared with net income of $405 million, or $1.13 per diluted share, in the second quarter of 2010. For the second quarter of 2011, net income adjusted for special items was $819 million, or $2.29 per diluted share, compared with net income adjusted for special items of $422 million, or $1.18 per diluted share, for the second quarter of 2010.

“We continued to benefit in the second quarter from wider differentials between West Texas Intermediate and Light Louisiana Sweet, and between sweet and sour crudes,” said President and Chief Executive Officer Gary R. Heminger. “In addition, our Garyville major expansion project, which we completed late in 2009, continues to exceed our original expectations and contributed to the strong financial performance we achieved in the second quarter of 2011. With over 50 percent of our crude refining capacity in the mid-continent, we believe MPC is well positioned to continue benefitting from advantaged feedstock acquisition costs, especially if the growth in domestic and Canadian crude supply exceeds the logistical systems needed to move the new production to consuming markets.”

“The spin-off of MPC from Marathon Oil Corporation was the right transaction at the right time,” Heminger added. “As an independent company with a strong financial position and financing in place, our objective is to selectively pursue new growth opportunities while exercising financial discipline to maintain our investment grade profile.”

1

Looking ahead, Heminger said the company is optimistic about its future. “Not only should we continue to benefit from the approximately $3.9 billion investment we recently made in our Garyville, Louisiana refinery, but our $2.2 billion Detroit Heavy Oil Upgrade Project (DHOUP) continues to progress on-budget and on-time with a scheduled completion in the second half of 2012. As of June 30, 2011, the project was approximately 63 percent complete. When completed, DHOUP should allow us to process an incremental 80,000 bpd of heavy Canadian crude and increase our Detroit crude oil refining capacity approximately 15 percent to 120,000 bpd. Finally, we are also optimistic about growth prospects for our Speedway^® retail operations and Marathon-branded jobber stations.”

Segment Results

Total segment income from operations was $1,394 million in the second quarter of 2011, compared with $721 million in the second quarter of 2010.

Refining & Marketing

Refining & Marketing segment income from operations was $1,260 million in the second quarter of 2011, compared with $590 million in the second quarter of 2010. The increase was primarily the result of a higher refining and marketing gross margin, which increased to 25.66 cents per gallon in the second quarter of 2011 from 13.06 cents per gallon in the second quarter of 2010.

Factors contributing to the increase in the gross margin for the second quarter of 2011 included a wider differential between West Texas Intermediate and other light sweet crudes, such as Light Louisiana Sweet (LLS), and between sweet and sour crudes. In addition, the Chicago and U.S. Gulf Coast (USGC) LLS 6-3-2-1 crack spreads increased in the second quarter of 2011 compared with the second quarter of 2010.

The second quarter 2011 refining and marketing gross margin included derivative gains of $234 million compared with gains of $73 million in the second quarter of 2010, primarily resulting from the mitigation of our foreign crude oil acquisition price risk and seasonal inventory price risk exposure.

2

Speedway

Speedway’s 2011 second quarter segment income from operations was $80 million, compared with $83 million in the second quarter of 2010. The second quarter 2010 segment income from operations included the results of the 166 convenience stores and 67 franchise convenience stores that were part of the December 2010 sale of our Minnesota refinery and related assets.

Speedway’s gasoline and distillate gross margin per gallon improved considerably, averaging 15.02 cents in the second quarter of 2011, up from 11.68 cents in the second quarter of 2010. The contribution from the higher gasoline and distillate gross margin was partially offset by lower sales volumes attributable to the Minnesota asset disposition, as well as lower demand due to higher gasoline and distillate retail prices and the state of the economy in Speedway’s Midwest markets. Same-store gasoline sales in the second quarter of 2011 decreased 5 percent, essentially offsetting the increase of 5 percent achieved in the second quarter of 2010.

Same-store merchandise sales were flat in the second quarter of 2011, compared with an increase of 4 percent for the second quarter of 2010. Merchandise gross margin was $178 million in the second quarter 2011, compared with $207 million in the second quarter of 2010, which primarily reflects the effects of the Minnesota asset disposition.

During the second quarter of 2011, Speedway completed the purchase of 23 convenience stores in Chicago, Illinois and northwestern Indiana, which strengthens Speedway’s presence in this important geographic market. All of the locations have been rebranded and are now integrated into Speedway’s operations.

3

Pipeline Transportation

Pipeline transportation segment income from operations was $54 million in the second quarter of 2011, compared with $48 million in the 2010 second quarter. The increase in the pipeline transportation segment income from operations primarily reflects increased crude oil and refined product trunk line volumes transported in several of the systems.

Corporate and Special Items

Corporate and other unallocated expenses increased $13 million in the second quarter of 2011 compared with the second quarter of 2010, primarily due to a combination of higher employee benefits, incentive compensation and administrative expenses.

During the second quarter of 2011, state income tax legislative changes were enacted, primarily in Michigan, resulting in an adverse tax impact of $17 million, which has been treated as a special item. In the second quarter 2010, MPC recorded an impairment related to the sale of a maleic anhydride plant, which had a negative after-tax impact of $17 million and was treated as a special item.

Strong Balance Sheet with Financing in Place to Fund Current Operations and Future Growth Opportunities

At June 30, 2011, the company had an unused $2 billion revolving credit facility and $1.622 billion of cash. On July 1, 2011, the company completed a new trade receivables securitization facility in an aggregate principal amount not to exceed $1 billion. These facilities should provide the company with significant flexibility to meet its day-to-day operational needs and to pursue value-enhancing growth opportunities. As of June 30, 2011, the company had a strong financial position with a cash-adjusted debt to capital ratio of 16 percent.

Conference Call

At 1 p.m. EDT today, MPC will hold a webcast and conference call to discuss the earnings release and provide an update on company operations. Interested parties may listen to the conference call on MPC’s website at http://www.marathonpetroleum.com by clicking on the “2011 Second Quarter Financial Results” link. Replays of the conference call will be available on the company’s website through Tuesday, Aug. 16. Financial information, including the earnings release and other investor-related material, will also be available online at http://ir.marathonpetroleum.com by clicking on “Quarterly Investor Packet”.

4

About Marathon Petroleum Corporation

MPC is the nation’s fifth-largest refiner with a crude capacity in excess of 1.1 million barrels per day in its six-refinery system. Marathon brand gasoline is sold through approximately 5,100 independently owned locations across 18 states. In addition, Speedway LLC, an MPC subsidiary, owns and operates the nation’s fourth largest convenience store chain with approximately 1,375 locations in seven states. MPC also owns, operates, leases or has ownership interest in approximately 9,600 miles of pipeline. MPC’s fully integrated system provides operational flexibility to move crude oil, feedstocks and petroleum-related products efficiently through the company’s distribution network in the Midwest, Southeast and Gulf Coast regions. For additional information about the company, please visit our website at http://www.marathonpetroleum.com.

Investor Relations Contacts:

Pamela Beall (419) 429-5640

Beth Hunter (419) 421-2559

Media Contacts:

Angelia Graves (419) 421- 2703

Robert Calmus (419) 421- 3127

###

In addition to net income determined in accordance with generally accepted accounting principles (“GAAP”), MPC has provided supplementally “net income adjusted for special items,” a non-GAAP financial measure which facilitates comparisons to earnings forecasts prepared by stock analysts and other third parties. Such forecasts generally exclude the effects of items that are considered non-recurring, are difficult to predict or to measure in advance or that are not directly related to MPC’s ongoing operations. A reconciliation between GAAP net income and “net income adjusted for special items” is provided in a table on page 1 of this release. “Net income adjusted for special items” should not be considered a substitute for net income as reported in accordance with GAAP. We believe certain investors use “net income adjusted for special items” to evaluate MPC’s financial performance between periods. Management also uses “net income adjusted for special items” to compare MPC’s performance to certain competitors.

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, MPC’s current expectations, estimates and projections concerning MPC business and operations. You can identify forward-looking statements by words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “project,” “could,” “may,” “should,” or “would” or other similar expressions that convey the uncertainty of future events or outcomes. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the company’s control and are difficult to predict. Factors that could cause actual results to differ materially from those in the forward-looking statements include: the availability and pricing of crude oil and other feedstocks; slower growth in domestic and Canadian crude supply; completion of pipeline capacity to areas outside the U.S. Midwest; consumer demand for refined products; changes in governmental regulations; transportation logistics; the availability of materials and labor, delays in obtaining necessary third-party approvals, and other risks customary to construction projects; the reliability of processing units and other equipment; our ability to successfully implement growth opportunities; other risk factors inherent to our industry; and the factors set forth under the heading “Risk Factors” in MPC’s Registration Statement on Form 10 filed with the Securities and Exchange Commission (the “SEC”). In addition, the forward-looking statements included herein could be affected by general domestic and international economic and political conditions. Unpredictable or unknown factors not discussed here or in MPC’s Form 10 could also have material adverse effects on forward-looking statements. Copies of MPC’s Form 10 are available on the SEC website, at http://www.marathonpetroleum.com or by contacting MPC’s Investor Relations Office.

5

Consolidated Statements of Income (Unaudited)

6

Supplemental Statistics (Unaudited)

7

Supplemental Statistics (Unaudited) (continued)

8

Earnings Before Interest, Taxes, Depreciation & Amortization (EBITDA) by Segment

9