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MARATHON OIL ISSUES STATEMENT

 MARATHON OIL ISSUES STATEMENT
 HOUSTON, July 17 /PRNewswire/ -- Marathon Oil Co. announced today


that the jobs of approximately 100 employees at various locations throughout the company are being eliminated.
 The terminations follow a Voluntary Early Retirement Program accepted by 351 employees, effective June 1, 1992.
 The majority, which are in the exploration and production organizations, will be effective today, July 17, but in some instances employees will be given a later termination date due to operational factors. All employees being terminated are eligible for enhanced severance benefits beyond Marathon's standard Termination Allowance Plan.
 "Negative business conditions plague the petroleum industry, Marathon, and the economy in general," Victor G. Beghini, Marathon president, said. "It is regretful such actions are necessary; however, our industry continues under great economic pressure. Domestic activities, particularly, face increasing cost pressures as various economic factors and government policies have combined to severely constrain new business opportunities."
 Marathon said that while ongoing business activities such as asset sales or other operational changes may result in additional job reductions, there are no plans for further major work force reductions at this time.
 /delval/
 -0- 7/17/92 R
 /CONTACTS: Michael R. Dixon, 713-296-3912, or William P. Ryder, 713-296-3915, both of USX Corp./
 (MRO) CO: Marathon Oil Co. ST: Texas IN: OIL SU:


DM -- PG012 -- 0405 07/17/92 16:46 EDT
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Publication:PR Newswire
Date:Jul 17, 1992
Words:222
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