Marathon's refinery spinoff is planned for June 30

05/24/2011 | Wall Street Journal, The

The spinoff of Marathon Oil's refining and sales arm will be effective June 30, the company said. Marathon Oil would focus on exploration and production after the spinoff, while the new company, Marathon Petroleum, is expected to become the fifth-biggest U.S. refiner. The spinoff still needs the approval of the Securities and Exchange Commission, Marathon added.

View Full Article in:

Wall Street Journal, The

Published in Brief: