Exxon Mobil
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- mrdobolina
Exxon Mobil posts record annual profit
HOUSTON (AP) -- Oil giant Exxon Mobil Corp. posted the largest annual profit by a U.S. company -- $39.5 billion -- even as earnings for the last quarter of 2006 declined 4 percent.
The 2006 profit topped the previous record, also by Exxon Mobil, of $36.13 billion set in 2005. The record earnings amounted to roughly $4.5 million an hour for the world's largest publicly traded oil company, which produces about 3 percent of the world's oil.
It also equals the approximate gross domestic product -- a measure of all goods and services produced within a country in a given year -- of countries like Ecuador, Luxembourg and Croatia.
Also eyepopping was Exxon Mobil's revenue, which rose to $377.64 billion for the year, surpassing the record $370.68 billion it posted in 2005.
Still, it marked the first time since the third quarter of 2002 Exxon Mobil had a year-over-year quarterly earnings decline.
Exxon Mobil's record annual earnings followed a year of extraordinarily high energy prices as crude oil topped $78 a barrel in the summer -- driving up average gasoline prices in the United States to more than $3 a gallon. Prices retreated later in the year.
The fourth-quarter decline reflects lower profits from Exxon's refining and marketing operations and a sharp dropoff in natural gas prices.
The company said earnings from exploration and production were $6.2 billion for the quarter, down from about $7 billion in the fourth quarter of 2005. Earnings also fell on the refining and marketing side to $1.96 billion in the most recent quarter from $2.4 billion a year ago.
Oil production for the quarter was up slightly from a year ago, while natural gas production was off slightly.
At Exxon Mobil, profit for the fourth quarter of 2006 declined to $10.25 billion from the $10.71 billion Exxon earned in the 2005 quarter -- a record quarterly profit for any U.S. public company. That best-ever profit came when the price of both natural gas and crude oil skyrocketed in the wake of hurricanes Katrina and Rita, which damaged wells, pipelines and refineries in the key energy-producing Gulf of Mexico.
- mexicandave0
Where do I fill in my bank details ?
- mrdobolina0
Just email them to me.
- johndiggity0
great time to be a shareholder.
- mrdobolina0
one selfish way of looking at it.
- material-10
corporate wellfare works!
- ********0
Turns out there is a bit of money to be made in oil.
- material-10
they dont got shit on the Beverly hillbiliies
- johndiggity0
what's selfish about buying stock in a publically traded company and being happy that company performs well? like i want to invest my savings in some company that is not going to give me a roi?
- mrdobolina0
invest in raytheon then john.
I hear bombs are selling like hotcakes right now.
- johndiggity0
do you keep your savings under your matress dobs?
- johndiggity0
or are you fully vested in ben & jerry's?
- material-10
my wife inverts all our saving into chocolate bars wrapped in gold foil, someday we will be rich!!!
- spk0
exxon pays 1.5 million to AEI - AEI offers bribes to scientists to say global warming isn't happening...
http://www.smh.com.au/news/envir…
WTF ?
- Gucci0
or are you fully vested in ben & jerry's?
johndiggity
(Feb 2 07, 08:15)lol
- mrdobolina0
I have no investments in oil companies or defense contractors because I think it is wrong.
If you dont, go nuts. I just dont want to support that shit.
- pyeaton0
This is just a personal opinion, but I would NEVER invest in a company like Exxon.
Lets see, they get corp welfare, largest prfits ever, and then turn around and and charge more than any other gas company out there. hhhmmmm lets fund these greedy mental teenagers, and create a bigger dependence on their effing oil so that they can turn around and pay off scientists to keep their mouths shut. Their eyes are so clouded by greed it is disgusting.
- johndiggity0
i figure if i'm going to pay $3.15 at the pump, i want to get in on that action.
- mrdobolina0
have fun with that
- linearch0
funny how the report on the valdez spill came out this week too. it was like 2 decades ago and still the bay has like 30 bizillions gallons of oil killing the wildlife......you would think they could use some of the 39 billion in profit to clean up their shit......
- Mimio0
Alaska is already asking Exxon for more money.