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About Marathon
Marathon Oil Corporation (NYSE:MRO) is an integrated international energy company engaged in exploration and production; integrated gas; and refining, marketing and transportation.
Headquartered in Houston, Texas, Marathon has exploration and production activities in the United States, Angola, Canada, Equatorial Guinea, Gabon, Indonesia, Ireland, Libya, Norway, the Ukraine and the United Kingdom. Marathon is the fifth-largest refiner in the U.S. The Company’s retail marketing system comprises approximately 5,700 locations in 17 states.
About this report
This Report contains information on Marathon Oil Corporation’s environmental, health and safety, social and economic performance in 2006. The Report is based on the Oil & Gas Industry Guidance on Voluntary Sustainability Reporting, published jointly by the American Petroleum Institute (API) and the International Petroleum Industry Environmental Conservation Association (IPIECA). The API/IPIECA Guidance provides a common framework for the petroleum industry to use in reporting non-financial performance. Marathon has included quantitative metrics and descriptions of policies, programs and practices to provide relevant and meaningful information regarding the Company’s operations and non-financial performance.
Marathon focuses its business strategy on Upstream (exploration and production), Integrated Gas (liquefied natural gas or LNG) and Downstream (refining, marketing and transportation). Where appropriate, Corporate-wide performance is reported. Additional information may be reported for Upstream and Downstream components to furnish more depth in the applicable reporting metrics. Integrated Gas performance is included with Upstream metrics. As the Integrated Gas segment grows, consideration will be given to providing separate metrics. Downstream performance typically includes all refining, marketing and transportation activities. Some measures for Speedway SuperAmerica LLC (SSA), Marathon’s wholly owned retail marketing subsidiary, are shown separately from Downstream performance.
Specific Upstream and Downstream metrics differ in some instances due to sector relevance or to better characterize effects. For instance, spill rates and greenhouse gas (GHG) emissions are provided for Upstream and Downstream, using different normalization factors. Normalization factors used in this Report generally follow accepted industry practice (e.g., production or refinery throughput). Further, results are reported on an operated basis, i.e., for those operations under direct Marathon management and operational control, rather than reported on an equity (net share) basis. For social measures, performance is generally reported for Marathon Oil Corporation as a whole, with examples from various businesses.
The information provided in this Report has not been evaluated by any third party for external assurance or verification of data, with the exception of financial and operating highlights excerpted from the Company’s 2006 Annual Report. Marathon will consider using an external assurance process for future reports.
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