marathon oil 4th Quarter 2002

Marathon Oil Corporation reported higher net income in Q4 2002 compared to Q4 2001. Net income for full year 2002 was lower than 2001 due to challenging conditions in the refining and marketing industry. Key highlights included successful exploration and production projects that increased reserves, and progress on integrated natural gas opportunities. However, earnings in the downstream segment declined significantly from the prior year due to higher crude oil costs and lower refined product prices.