Marathon details 2010 shift to upstream

摘要

New York-Marathon Oil's 2010 spending will be 17% below its 2009 budget at $5.1 billion, and shift toward the upstream now that major downstream expenses are out of the way, the company said February 1."With the completion of our Garyville, Louisiana, refinery major expansion, our spending in the downstream is budgeted to be 53% lower in 2010 compared to 2009," Marathon President Clarence Cazalot said in a statement. The $3.5 billion Garyville expansion, expected online in the second quarter, will increase the 256,000 b/d plant's crude capacity to 436,000 b/d.