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.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.