Marathon profits decline 49% on lower margins in downstream; higher prices balance decline in upstream

Allen Baker, PNA contributing writer

Marathon Oil Corp. reported third-quarter profits of $87 million, barely half of the $170 million for the same quarter a year ago. The Houston-based company had earnings of $168 million for the second quarter. Special items caused major adjustments in both the 2002 and 2001 quarter, cutting the net....