Marathon looking for efficient running

MARATHON Oil has further slashed its budgeted capital expenditure for 2015 due to lower commodity prices, reporting that it expects to spend $US3.52 billion ($A4.5 billion) on investment and exploration, down from the December estimate of $4.3 billion to $4.5 billion.

Overall, the Houston-based company reported a profit of $926 million for the full year while recording a loss from continuing operations of 13c per share.

Revenue fell 2% to $2.5 billion.


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