Description: Marathon Oil Corporation
Marathon Oil Corporation, through its subsidiaries, engages in the exploration, refining, marketing, and transportation of liquid hydrocarbons, natural gas, crude oil, and other petroleum products worldwide. It operates in four segments: Exploration and Production; Oil Sands Mining; Integrated Gas; and Refining, Marketing, and Transportation. The Exploration and Production segment involves in the exploration, production, and marketing of liquid hydrocarbons and natural gas on a worldwide basis. 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 vacuum gas oil. The Integrated Gas segment markets and transports products manufactured from natural gas, such as liquefied natural gas and methanol on a worldwide basis. 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 gasoline and diesel fuel products; asphalt cements, polymer modified asphalt, emulsified asphalt, and industrial asphalts; and aromatics, cumene, propane, propylene, sulfur, and maleic anhydride products. As of December 31, 2009, the companyÂ’s net proved liquid hydrocarbon, natural gas, and synthetic crude oil reserves totaled 1,679 mmboe. It was formerly known as USX Corporation and changed its name to Marathon Oil Corporation in July 2001. The company was founded in 1887 and is based in Houston, Texas.