IPO MLPX, LP (MLPX) is a fee-based, growth-oriented limited partnership formed by Marathon Petroleum Corporation to own, operate, develop and acquire crude oil, refined product and other hydrocarbon-based product pipelines and other midstream assets. MLPX generates revenue primarily by charging tariffs for transporting crude oil, refined products and other hydrocarbon-based products through their pipelines and at their barge dock and fees for storing crude oil and products at their storage facilities. MLPX does not take ownership of the crude oil or products that they transport and store, and does not engage in the trading of any commodities.
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