Web exclusive posted August 5, 2008 at 12:32 p.m. CST 
 
 Houston, Texas-based Marathon Oil Corp. indicated in its second quarter earnings release that its blending of ethanol into gasoline rose approximately 38 percent as compared to the same quarter in 2007, helping the company take advantage of cheap prices for the alternative fuel.
 
 Marathon is the nation's fourth-largest U.S. integrated oil company, meaning it's involved in exploration and production in addition to refining and marketing. The company co-owns a 110 MMgy ethanol facility in Greenville, Ohio, with ethanol producer The Anderson Inc. 
 

 Garry Peither, Marathon's vice president for finance and commercial services, said that the company's blending of ethanol rose to 55,000 barrels per day during the second quarter of this year, up from 40,000 barrels per day during the same period last year. 
 
 "We believe that because of the infrastructure which we've invested in, we're now capable of blending up to an E10 blend throughout our entire marketing network," he said.
 
 Marathon Oil reported a second quarter 2008 net income of $774 million, compared with a net income of $1.550 billion in the second quarter 2007. With the drop in profits, Marathon said it may consider becoming two companies with one focused primarily on exploration and production and the other one on refining and marketing. Marathon said it has been mulling a split for several months, and a decision could be made in the fourth quarter this year. If a decision is made to separate, the company said it would likely occur during the first quarter of next year. 
 
 To view Marathon's full second quarter release, visit <a href="http://www.marathon.com/News/Press%5FReleases/Press%5FRelease/?id=1181940">http://www.marathon.com/News/Press%5FReleases/Press%5FRelease/?id=1181940</a>.

Marathon Oil reports ethanol blending up 38 percent

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Marathon Oil reports ethanol blending up 38 percent