By Staff Reporter | January 13, 2011 9:19 PM IST
Marathon Oil surging on spinoff plan
Marathon Oil surging on spinoff plan
Shares of Marathon Oil (NYSE: MRO) are surging on the company’s plan to separating its oil exploration/producing business from its lower-margin refining operations.
Roberts, head of worldwide exploration and production for Marathon Oil Company answers questions during the Reuters Energy Summit held in Houston
Marathon stock is up 7.75 percent as of 9:45 a.m.
The company said that the new refining company will be known as Marathon Petroleum Corp. and is expected to be the fifth-largest refiner in the U.S.
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Richard Carson / Reuters
Roberts, head of worldwide exploration and production for Marathon Oil Company answers questions during the Reuters Energy Summit held in Houston
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