- It reported today that it had earned almost $US8 ($NZ11.11)
billion in the first quarter.
-
- But the 44% increase in earnings came as oil-equivalent
production declined almost 5%, underscoring long-term concerns about whether
major oil companies are investing enough to raise their output.
-
- Lower-than-projected operational earnings disappointed
investors, sending Exxon Mobil shares down $US2.38, or 4%, to $US56. The
stock has increased 9% this year.
-
- Excluding special items, profit was $US7.4 billion up
from $US5.44 billion in the first quarter of 2004.
-
- Quarterly revenue reached $US82.1 billion, up 21% from
a year earlier.
-
- Oil prices have remained at higher levels longer than
most analysts expected, extending the run of record profits at Exxon Mobil
and other major energy producers.
-
- Crude oil averaged $US50.03 a barrel in the first quarter,
up from $US48.27 the last three months of 2004.
-
- It traded as high as $US58.28 this month but closed today
at $US51.77, up US16c.
-
- Exxon Mobil's profit of $US7.86 billion ($A10.11 billion)
-- a record first quarter -- came after earning $US8.42 billion ($A10.83
billion) in the fourth quarter of 2004, the most ever for a US corporation.
-
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- http://www.sharechat.co.nz/news/scnews/article.php/a29bf86d
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