Exxon-Mobil out-does its own greed
On Friday (as the USA slipped further into a recession) Exxon Mobil Corp posted the largest annual profit by any company in world history — $40.6 billion.
Exxon also set an all-time U.S. record for the biggest quarterly profit, posting net income of $11.7 billion for the final three months of 2007, beating its own mark of $10.71 billion in the fourth quarter of 2005.
The previous record for annual profit was $39.5 billion, set by Exxon Mobil in 2006.
Oil prices have reached $100.09 on Jan. 3.
Exxon Mobil’s revenue rose 30 percent in the fourth quarter to $116.6 billion from $90 billion a year ago.
Sales rose to $404.5 billion, another record for Exxon Mobil.
ConocoPhillips has said record oil prices at the end of 2007 helped it post a 37 percent increase in fourth-quarter profit, even as ConocoPhillips produced less crude and natural gas than a year earlier. Its fourth-quarter net income rose to $4.37 billion versus $3.2 billion a year earlier.
ConocoPhillips is the nation’s third-largest integrated oil company behind Exxon Mobil and Chevron Corp.
Chevron’s profit rose 29.2 percent in the fourth quarter. Revenue rose 29 percent to $61.41 billion from $47.75 billion.
On Thursday, Royal Dutch Shell PLC, Europe’s largest oil company, reported fourth-quarter profit rose 60 percent to $8.47 billion. Shell also said full-year net profit was a record $31.3 billion, up 23 percent from 2006.
$2.75 a gallon is really low, btw.
I'm paying over $3.00 a gallon fr my premium unleaded. God - how I wish I had a solar powered car.
---------------------------------------
"Money" has no value - people do.