< Update = MAP Detroit starts upgrade, goodbye asphalt / hello petcoke. CER>
——— Marathon Oil begins Detroit refinery upgrade
AP Friday June 20, 10:50 am ET
Marathon Oil starts $1.9 billion project to upgrade Detroit refinery; work to end late 2010
HOUSTON (AP) — Marathon Oil Corp. said Friday it has begun work to add capacity to its Detroit refinery after receiving approval from state authorities.
The $1.9 billion project will boost the facility’s capacity to 115,000 barrels per day, up from 102,000 barrels before, including the ability to refine 80,000 barrels per day of heavy oil.
The project, slated for completion in late 2010, will employ 800 construction workers and eventually add 135 jobs at the refinery.
Marathon estimates the work will bring 400,000 additional gallons of fuel to market per day.
Marathon shares fell 30 cents to $51.84 in morning trading.