Marathon Oil earnings climb on oil prices

Marathon Oil earnings climb on oil prices

HOUSTON (AP) - Marathon Oil says its first-quarter profit rose 62 percent as higher oil prices offset losses in the company's refining business.
Marathon said Tuesday that it made $457 million, or 64 cents per share, for the quarter ended March 31 compared with $282 million, or 40 cents per share, in the year-ago quarter.
Including one-time charges, the company would have made $315 million, or 44 cents per share, in the quarter compared with $240 million, or 34 cents per share, a year ago.
Like other integrated oil companies, Marathon has been helped by skyrocketing oil prices. But their refining businesses have suffered because of weak demand for fuel.


Sherman 4201 Texoma Pkwy (903) 892 -8123 Ardmore 2624 S. Commerce (580) 223-0946
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 92794384 - http://kxii.com/a?a=92794384