"Marathon had a strong financial and operational second quarter. The company's continued focus on reliability, as well as the first full-quarter contribution [image-nocss] from the expanded Garyville refinery, provided a strong operational performance that allowed us to benefit from higher year-over-year crude oil and natural gas realizations and much-improved margins for refined products," said Clarence P. Cazalot Jr., Marathon's president and CEO. "These results represent an impressive team effort."
Total segment income was $817 million in second-quarter 2010, compared to $388 million in second-quarter 2009.
Exploration and production (E&P) segment income totaled $432 million in second-quarter 2010, compared to $208 million in the year-ago quarter.
Refining, marketing and transportation (RM&T) segment reported income of $421 million in second-quarter 2010, compared to income of $165 million in second-quarter 2009. The refining and wholesale marketing gross margin per gallon was 13.37 cents in second-quarter 2010 compared to 8.71 cents in second-quarter 2009.
Speedway SuperAmerica LLC (SSA) gasoline and distillate gross margin per gallon averaged 13.28 cents in second-quarter 2010, compared to 10.51 cents in second-quarter 2009. SSA second-quarter 2010 same-store gasoline sales volumes increased 5%, while same-store merchandise sales increased by approximately 4% for the same period.
Marathon Oil's refining, marketing and transportation operations (downstream activities) are operated by Marathon Petroleum Co. LLC (MPC). The Company ranks as the fifth largest petroleum refiner in the United States and the largest in the Midwest.
Houston-based Marathon Oil has extensive refining, marketing and transportation operations concentrated primarily in the Midwest, Upper Great Plains, Gulf Coast and Southeastern regions of the United States.
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