Marathon Corrects Erroneous Wire Reports About Company's Operations In Russia
Posted: 23 February 2005
Marathon Oil Corporation (NYSE: MRO) issued the following in response to incorrect stories that ran on news wires in Russia earlier .
The stories incorrectly noted that individuals with the "Khanty Mansiisk [sic] Oil Company" detained on suspicion of embezzling state funds were associated with Marathon 's subsidiary operating in Russia .
Marathon has absolutely no connection to "Khanty Mansiisk [sic] Oil Company" or to the individuals noted in these wire stories.
Marathon acquired the U.S.-based, privately held Khanty Mansiysk Oil Corporation in 2003, and its operations in Western Siberia . Marathon conducts its operations in Russia under a wholly owned subsidiary called KMNGG which stands for Khanty-Mansiysk NefteGasGeologiya.
Posted by Editor Pipeline Magazine
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