Marathon Oil Corporation, through its subsidiaries, engages in the exploration, refining, marketing, and transportation of liquid hydrocarbons, natural gas, and other petroleum products worldwide.
It operates in four segments: Exploration and Production; Oil Sands Mining; Refining, Marketing, and Transportation; and Integrated Gas.
The Exploration and Production segment involves in the exploration, production, and marketing of liquid hydrocarbons and natural gas on a worldwide basis.
As of December 31, 2007, its net proved liquid hydrocarbon and natural gas reserves totaled 1.225 billion barrels of oil equivalent.
The Oil Sands Mining segment mines, extracts, and transports bitumen from oil sands deposits in Alberta, Canada; and upgrades the bitumen to produce and market synthetic crude oil and by-products.
The Refining, Marketing, and Transportation segment refines, markets, and transports crude oil and petroleum products primarily in the Midwest, upper Great Plains, Gulf Coast, and southeastern regions of the United States.
Its refineries process various crude oils and produce refinery products, including gasolines and diesel fuel; asphalt cements, asphalt emulsions, and industrial asphalts; aromatics, aliphatic hydrocarbons, cumene, base lube oil, polymer grade propylene, maleic anhydride, and slack wax; and petroleum pitch.
The Integrated Gas segment markets and transports products manufactured from natural gas, such as liquefied natural gas and methanol on a worldwide basis.
The company also has a joint venture with Pilot Corporation, which operates travel centers that offer diesel fuel and gasoline, as well as various services, including on-premises brand-name restaurants.
As of December 31, 2007, the joint venture operated approximately 286 locations in 37 states and Canada.
The company was founded in 1887.
It was formerly known as USX Corporation and changed its name to Marathon Oil Corporation in 2001.
Marathon Oil Corporation is based in Houston, Texas.
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