Marathon Oil is an American oil company with origins in The Ohio Oil Company, foudned in 1887. Last year it ranked 41 on the Fortune 500 list. Last Friday, on July 1, the company was split in two. What in the petroleum business is referred to as the the upstream business (searching, recovering and producing crude oil and natural gas) stays with Marathon Oil, its subsidiary Marathon Petroleum, which included the downstream business (refining and selling oil and gas), was spun off into a separate company.
Marathon Petroleum will get to keep the logo previously used by both companies. A new logo for Marathon Oil was unveiled on June 30, and went live on various platforms when the spin-off was made official the next day.
The company claims the classic red M in a hexagon was introduced in 1962 when The Ohio Oil Company officially changed its name to the Marathon Oil Company.
The new symbol for the "Marathon Oil Corporation" is described as "an abstracted tri-color energy wave that symbolizes the momentum resulting from its upstream activity as well as the drive and innovation of the Company’s employees".
"The process for creating a new logo began in February with an employee survey. Results of the feedback emphasized eight key attributes of the Company: focused, energetic, innovative, nimble, socially responsible, ethical, driven and global. The logo was designed based on these key descriptors." - Marathon Oil Corporation press release
You can see a long animation of the new logo here.
Marathon Oil press release