Marathon reports Q4 results, sets 2008 budget at $8B

02/1/2008 | Yahoo!

Marathon Oil announced plans to spend $8 billion this year on capital improvement, investment and exploration, a 67% increase over last year. It will spend much of that upgrading and expanding refineries in Garyville, La., and Detroit. It also announced fourth-quarter earnings dropped 38% because of increased oil prices, project delays and higher exploration costs.

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