Marathon Oil Corporation
From Knowmore.org
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Marathon Oil Corporation
5555 San Felipe Rd. Houston TX USA
77056-2723
713-629-6600
hhttp://www.marathon.com
Type:
Public
In the long-running competition for profits in the oil and gas industry, Marathon Oil (formerly USX Corporation) is keeping up a steady pace. Through its Marathon Oil Company subsidiary, the company explores for and produces oil and gas primarily in Angola, Equatorial Guinea, Gabon, Ireland, Libya, Norway, the UK, and the US. It has net proved reserves of 1.3 billion barrels of oil equivalent. Marathon Oil's Marathon Petroleum (formerly Marathon Ashland Petroleum, or MAP) operates seven refineries with an aggregate capacity of 974,000 barrels of crude oil a day. Marathon Petroleum supplies about 4,200 Marathon-branded US retail gas outlets. Marathon Oil also services 1,636 Speedway SuperAmerica gas stations.
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[edit] Criticism
[edit] Business Ethics
- Attorney General Greg Stumbo Sues Marathon Oil Corporation, Marathon Petroleum Company, LLC and Speedway SuperAmerica, LLC for $89 Million for Gouging Kentucky Consumers at the Pump following Hurricanes: "Attorney General Greg Stumbo announced groundbreaking litigation filed today in Franklin Circuit Court against Marathon Oil Corporation, Marathon Petroleum Company, LLC and Speedway SuperAmerica, LLC, charging the corporations with profiteering during the time of emergency following Hurricanes Katrina and Rita. The companies are alleged to have overcharged Kentucky consumers more than $89 million in grossly excessive motor fuel pricing."
[edit] Political Influence
- An ultra-secretive network rules independent oil trading.: "U.S. companies are forbidden from bribing officials. If they do, it can prove damaging. The Securities & Exchange Commission, for example, is probing Marathon Oil (MRO ), ExxonMobil (XOM), Amerada Hess (AHC), Chevron (CVX), and others for allegedly bribing President Teodoro Obiang Nguema Mbasogo of Equatorial Guinea and his relatives for oil rights. The companies say they're cooperating with the SEC and that they acted lawfully."







