SOURCE: Industrial Info Resources

Industrial Info Resources

January 14, 2011 05:45 ET

Marathon Oil to Spin Off Refining Segment, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - January 14, 2011) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Marathon Oil Corporation (NYSE:MRO) (Houston, Texas) yesterday announced plans to separate its upstream and downstream segments. The new Marathon Petroleum Corporation (MPC), which will be headquartered in Findlay, Ohio, will operate the company's refining, marketing, terminals and pipelines, as well as the Speedway gasoline and convenience store chain, which has more than 1,300 locations throughout the Midwest. Marathon Oil Corporation (MRO) will continue operating the Exploration & Production, Oil Sands Mining and Integrated Gas business segments. The spin-off is expected to take effect on June 30, 2011. MPC is expected to be traded under the MPC ticker on the New York Stock Exchange.

Industrial Info is tracking more than $6.8 billion of Marathon projects. Information about these projects is available in Industrial Info's North American Industrial Database.

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