Marathon Oil says no sale on share of Athabasca oil sands

Marathon Oil Corp. said negotiations to sell its 20% interest in the Athabasca oil sands project have ended without any agreement being reached.

“Marathon Oil is not engaged in further discussions,” the company said, noting its goal remains intact to divest $1.5-3 billion during 2011 through Dec. 31.

As of May 22, Marathon had agreed upon or closed on about $1.3 billion in divestitures.

Marathon announced the Athabasca negotiations in October 2012 although it never disclosed the potential buyer’s name (OGJ Online, Oct. 29, 2012).

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