Marathon Oil Corporation
Company Information

Marathon Oil Corporation Company Profile

In the long-running competition for profits in the oil and gas industry Marathon Oil is keeping up a steady pace. The company explores for and produces oil and gas primarily in Angola, Canada, Equatorial Guinea, Iraq, Libya, Norway, Poland, the UK, and the US. In 2011 it reported proved reserves of 1.8 billion barrels of oil equivalent including 623 million barrels of synthetic oil from oil sands. Seeking stronger financial returns, in 2011 Marathon Oil (formerly a holding company with both upstream and downstream operations) spun off its downstream unit Marathon Petroleum (which had accounted for the bulk of its revenues) and became a pure-play exploration and production company.