NewsMine — cabal-elite — corporate — oil — 2007-prices — Viewing Item

Exxonmobile posts largest profit of US company Original Source Link: (May no longer be active)    http://apnews.myway.com/article/20070201/D8N0VHE82.html http://apnews.myway.com/article/20070201/D8N0VHE82.html Exxon Mobil Reports $39.5B Annual Profit Feb 1, 9:26 AM (ET) NEW YORK (AP) - Oil giant Exxon Mobil Corp. (XOM) (XOM) on Thursday 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 of $36.13 billion which Exxon set in 2005. Revenue at the world's largest publicly traded oil company rose to $377.64 billion for the year, surpassing the record $370.68 billion that Exxon posted in 2005. 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 segment and a sharp dropoff in natural gas prices. Profit for the fourth quarter of 2006 declined to $10.25 billion from $10.71 billion Exxon earned in the 2005 quarter - a record quarterly profit for any U.S. public company. Per-share earnings rose to $1.76 from $1.71 as the company reduced the number of shares outstanding. For the year, Exxon earned $6.62 per share in 2006 versus $5.71 per share in 2005.

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