Marathon profit sinks with industry; downstream loss, upstream shrinkage
Allen Baker, PNA contributing writer
Marathon Oil Corp., in its first quarter as a standalone company, reported shrinking profits in line with the rest of the industry.
Net income dwindled to $67 million for the quarter, compared with $509 million in the first quarter of 2001. That’s a drop of 87 percent.
Operating profit in the four....
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E&P profits way down
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