OGJ Newsletter

GENERAL INTEREST — Quick TakesMarathon Oil to spin off refining, pipeline assetsMarathon Oil Corp. will spin off its downstream business, forming an independent refiner to be named Marathon Petroleum Corp. based in Findlay, Ohio. The parent company, Marathon Oil, will remain in Houston.Gary R. Heminger, now Marathon Oil downstream executive vice-president, will be president and chief executive officer of Marathon Petroleum. Clarence P. Cazalot Jr. remains Marathon Oil president and chief executive officer. Marathon Oil expects the transaction to be effective June 30.Refinery locations and capacities to be operated by the spun-off company are Garyville, La., 464,000 b/d; Catlettsburg...

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