US OIL firm Marathon today posted a rise in third-quarter pre-tax profits to £812million, compared to £644million a year earlier.
But net profits fell to £252million, from £434million, because of higher taxes and lower sales.
The firm, which split off its refining business as Marathon Petroleum in June, said the lower sales were primarily due to a drop in production in Libya.
Revenue in the latest period totalled £2.2billion, compared with £1.7billion in the third quarter in 2010.
Oil and natural gas production in the third quarter of 2011 was just under 350,000 barrels oil equivalent per day, down about 15% from a year ago when Libyan output was available.