Exhibit 99.1

Marathon Petroleum Reports Fourth Quarter and Full-Year Results

FINDLAY, Ohio, Feb. 1, 2012 – Marathon Petroleum Corporation (NYSE:MPC) today reported a fourth quarter net loss of $75 million, or $0.21 per diluted share, compared with net income of $230 million, or $0.64 per diluted share, in the fourth quarter of 2010.

MPC reported full-year 2011 net income of $2.39 billion, or $6.67 per diluted share, compared with net income of $623 million, or $1.74 per diluted share, in 2010.

“MPC performed very well financially and operationally in 2011, and also successfully completed the spin-off from Marathon Oil Corporation on June 30. Net income of $2.4 billion exceeded any of the previous four years,” said MPC President and Chief Executive Officer Gary R. Heminger. “Our capabilities are built around a strategy of using our six-refinery network and logistics system to optimize the mix of our refinery inputs and capture the highest value for the refined products we produce in our plants.

“At the same time, 2011 was a year in which the impact of changing crude supply patterns and the volatile nature of crude oil prices was pronounced. We saw several factors that affected the fourth quarter to cause a small loss for MPC. The fourth quarter 2011 results were impacted

primarily by the rapid increase in the price of West Texas Intermediate (WTI) crude oil,” Heminger pointed out.

Partially offsetting the challenges in the refining business in the fourth quarter of 2011, the company’s retail segment, Speedway, performed very well. Speedway segment income of $73 million exceeded fourth quarter 2010 by $8 million even though the fourth quarter 2010 included two months of income from the 166 convenience stores sold Dec. 1, 2010.

“I’m very pleased with our 2011 performance,” Heminger added. “In addition to the strong financial performance, our employees maintained an excellent safety record, and our Detroit Heavy Oil Upgrade Project (DHOUP) ended the year on budget and slightly ahead of schedule. As we begin 2012, our first full calendar year of operations as an independent company, we have much to be proud of and much to look forward to, including completion of DHOUP, which represents $370 million of our planned $1.4 billion of capital spending in 2012.

“Our separate announcements earlier today of a share repurchase authorization and plans to evaluate strategic alternatives relative to our midstream assets further demonstrate our commitment to pursuing opportunities to create near and long-term value for our shareholders,” stated Heminger.

“Just one month after our separation from Marathon Oil and listing as a stand-alone public company, we announced our first quarterly dividend,” Heminger added. “One quarter later, we announced our second quarterly dividend, which included a 25 percent increase in the payout to shareholders. Today’s announcements follow that theme and are consistent with our commitment to balance internal and external investment with return of capital and regular sharing of the success of the business with our shareholders. We will continue to carefully manage our liquidity and capital to support our investment-grade credit profile, while remaining focused on the returns of our shareholders.”

Segment Results

Total income from operations was a loss of $158 million in the fourth quarter and income of $3.75 billion for the full-year 2011, compared with income of $351 million and $1.01 billion in the fourth quarter and full-year 2010, respectively.

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Refining & Marketing

Refining & Marketing segment income from operations was a loss of $182 million in the fourth quarter and income of $3.59 billion for the full-year 2011, compared with income of $303 million and $800 million in the fourth quarter and full-year 2010, respectively.

The $485 million decrease in Refining & Marketing segment income from operations in fourth quarter 2011 as compared to fourth quarter 2010 was primarily the result of a sharply lower refining and marketing gross margin, which decreased to $0.39 per barrel in the fourth quarter 2011 from $3.64 per barrel in the fourth quarter 2010. The main factors contributing to the decrease in the gross margin were unfavorable crude oil acquisition costs and lower crack spreads.

The $2.79 billion increase in Refining & Marketing segment income from operations in 2011 as compared to 2010 was primarily the result of a higher refining and marketing gross margin, which increased to $7.75 per barrel in 2011 from $2.81 per barrel in 2010. The main factors contributing to the increased gross margin were favorable crude oil acquisition costs and higher crack spreads during the first nine months of 2011. The favorable crude oil acquisition costs resulted primarily from relatively wider differentials between WTI and other light sweet crudes, such as Light Louisiana Sweet (LLS). In addition, the Chicago and U.S. Gulf Coast (USGC) LLS 6-3-2-1 blended crack spread increased in 2011 by $0.71 per barrel, compared to 2010.

As of Dec. 31, 2011, DHOUP was 85 percent complete and remains on budget and on schedule to complete construction in the third quarter of 2012. Immediately following the completion of construction, there will be a 70-day turnaround with the expanded refinery anticipated to be online by year end.

Speedway

Speedway segment income from operations was $73 million in the fourth quarter and $271 million for full-year 2011, compared to $65 million in the fourth quarter 2010 and $293 million for full-year 2010.

The $8 million increase in Speedway fourth quarter 2011 segment income from operations as compared to fourth quarter 2010 was primarily the result of a higher gasoline and distillate gross margin and a higher merchandise gross margin. This was partially offset by the absence of income from operations attributable to the sale of 166 convenience stores that were part of the Dec. 1, 2010 Minnesota asset disposition and by higher operating expenses. Speedway gasoline and distillate gross margin per gallon averaged 14 cents in the fourth quarter 2011 compared to 12.48 cents in the fourth quarter 2010.

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The $22 million decrease in Speedway 2011 segment income from operations as compared to 2010 was primarily attributable to the sale of the Minnesota assets and increased operating expenses, partially offset by a higher gasoline and distillate gross margin and a higher merchandise gross margin. Speedway gasoline and distillate gross margin per gallon averaged 13.08 cents in 2011 compared to 12.07 cents in 2010.

Same-store gasoline sales volume at Speedway decreased 0.4 percent in the fourth quarter and 1.7 percent for the full-year 2011, compared to increases of 0.9 percent in the fourth quarter and 3.0 percent for full-year 2010. Higher average gasoline retail prices in 2011 contributed to lower overall gasoline demand and to the decline in same-store sales volumes.

Speedway same-store merchandise sales increased 0.7 percent in the fourth quarter and 1.1 percent for the full-year 2011, compared to increases of 3.8 percent in the fourth quarter and 4.4 percent for the full-year 2010.

Pipeline Transportation

Pipeline Transportation segment income from operations of $38 million in the fourth quarter and $199 million for full-year 2011 was $14 million lower than the fourth quarter and $16 million higher than the full-year 2010. The decrease in the fourth quarter 2011 compared to fourth quarter 2010 was primarily due to a decrease in earnings from equity affiliates and higher operating costs. The increase in full-year 2011 segment income from operations compared to 2010 primarily resulted from lower non-routine maintenance and impairment expenses, partially offset by a reduction in equity affiliate earnings.

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Corporate Items

Corporate and other unallocated items increased $18 million in the fourth quarter 2011 to $87 million and increased $80 million for full-year 2011 to $316 million, compared with the same periods of 2010. The increases are primarily due to higher information technology, employee benefits and other administrative expenses, partially resulting from costs associated with being a stand-alone public company.

Strong Financial Position and Liquidity

As of Dec. 31, 2011, the company had $3.1 billion of cash and cash equivalents, an unused $2 billion revolving credit facility and an approximately $1 billion unused trade receivables securitization facility. The company’s credit facilities and cash position should provide the company with significant flexibility to meet its day-to-day operational needs and continue its balanced approach to investing in the business and returning capital to investors. As of Dec. 31, 2011, the company’s strong financial position was reflected in a cash-adjusted debt-to-capital ratio of 2 percent.

Conference Call

At 10 a.m. EST 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 Fourth Quarter Financial Results” link. Replays of the conference call will be available on the company’s website through Wednesday, Feb. 15. 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.”

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About Marathon Petroleum Corporation

MPC is the nation’s fifth-largest refiner with a crude capacity of approximately 1.2 million barrels per day in its six-refinery system. Marathon brand gasoline is sold through more than 5,000 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 9,400 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

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In addition to net income (loss) determined in accordance with GAAP, MPC has provided supplemental “net income (loss) adjusted for special items,” a non-GAAP financial measure that 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 (loss) and “net income (loss) adjusted for special items” is provided in a table on page 1 of this release. “Net income (loss) adjusted for special items” should not be considered a substitute for net income (loss) as reported in accordance with GAAP. We believe certain investors use “net income (loss) adjusted for special items” to evaluate MPC’s financial performance between periods. Management also uses “net income (loss) 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: further volatility in and/or degradation of market and industry conditions; 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; impacts from our repurchases of shares of MPC common stock under our stock repurchase program, including the timing and amounts of any common stock repurchases; the risk that the midstream asset evaluation may not result in the pursuit or consummation of any transaction; 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.

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Consolidated Statements of Income (Unaudited)

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Supplemental Statistics (Unaudited)

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Supplemental Statistics (Unaudited) (continued)

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

Select Balance Sheet Data (Unaudited)

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