Garyville Expansion On Schedule - Heminger
December 10, 2008

The expansion of Marathon Corp.'s (MRO) refinery in Garyville, La., is 70% finished and will be completed on schedule next year, one of the company's top executives said Wednesday.

Gary Heminger, executive vice president of Marathon, said on the sidelines of an energy conference here that despite the tough economic environment the Garyville refinery's expansion is on track.

Marathon, which has estimated it will spend $3.2 billion on the expansion, has also said the Garyville facility will increase crude oil refining capacity by 180,000 barrels per day.

On a separate note, Heminger confirmed that Marathon will announce this month whether or not the company will be split into two companies, but he declined to give a specific date.

Source: Dow Jones Newswires

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