Marathon Oil Company

Marathon Oil Company was founded in 1887. It was at a time when the center of the U.S. oil industry had moved westward from the Pennsylvania field. In northwest Ohio, the center of American oil production, 14 independent oil companies formed Ohio oil company. In the early part of this century, Ohio oil company was the first company engaged in the construction and operation of interstate pipeline. So far, marathon pipeline company is still the third largest transportation company in the United States. In 1889, Ohio oil company was acquired by Rockefeller company. In 1905, its headquarters also moved to Findlay, Ohio, and in 1990, it moved to Houston and changed its name to Marathon Oil Company. Marathon is the first company engaged in LNG project development in Alaska, and is currently the only LNG exporter in the United States. In 1982, marathon became a wholly-owned subsidiary of American steel company, and has since become a part of usx company. In 1991, usx's business was mainly divided into two parts (energy and steel), and retained the name of marathon on large stock exchanges. In 1998, marathon Ashland petroleum LLC was established as a joint venture between marathon and Ashland petroleum. In 2005, marathon completely acquired the joint venture. Today, the subsidiary is mainly responsible for the downstream business of marathon, and has become the fifth largest refining company in the United States.

Marathon Oil Company is headquartered in Houston, USA. its business scope covers the global exploration, production and transportation of crude oil and natural gas. Marathon's international exploration and production business has expanded to six countries in the world (Britain, Ireland, Egypt, Norway, Netherlands and Gabon). One of the important strategic development areas of Marathon company in the future is the large offshore oil and gas fields in Sakhalin Island, Russia. In the United States, marathon company's business includes oil refining, oil products sales and crude oil and oil products transportation. Marathon company holds 49.4% equity of Yates oilfield, which was discovered in 1926. It is the most high-yield oilfield in the history of the United States, and is still one of the largest oil fields in the United States. Marathon has 21 offshore platforms in the Gulf of Mexico, and is also engaged in exploration and production activities in Rocky Mountains, New Mexico, Oklahoma and onshore oilfields in the central and southeast of the United States. To expand its business, marathon has set up a power generation branch.

Marathon Oil Company and its subsidiaries mainly focus on the Middle East and North America. At present, marathon is trying to expand to the world, and has developed oil and gas in Norway in Europe, Equatorial Guinea in Africa and Angola. In addition, it also has production projects in Russia. In 2004, marathon produced an average of 170000 barrels of oil and nearly 1 billion cubic feet of natural gas (337000 barrels of crude oil equivalent) per day worldwide.