From The New York Times, 4/27/07:
http://www.nytimes.com/2007/04/27/business/27exxon.html?_r=1&ref=business&oref=slogin
Exxon Mobil Earnings Rise 10 Percent
By CLIFFORD KRAUSS
HOUSTON —
Despite a winter of relatively soft oil and natural gas prices, Exxon
Mobil on Thursday reported another surge in profit for the first
quarter of the year because of stronger earnings from its refining,
marketing and chemicals businesses.
Exxon’s continuing good fortunes — it said the results were its best
ever for any first quarter — were particularly noteworthy given the
mixed earnings picture reported in recent days by other large oil
companies.
Most of them cannot match the cost management and range of investments
held by the world’s largest publicly traded oil company.
Exxon, BP, ConocoPhillips, Occidental, Hess and other companies that
reported this week generally acknowledged that profits from oil sales,
though still hefty, had slowed in recent months.
While oil prices had climbed from an average of $20 a barrel through
much of the 1990s to a record of more than $78 a barrel last July, oil
prices settled to prices of $55 to $65 during the early months of the
year.
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Happy motoring
Harry
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