Exxon Mobil's Profit in 2007 Tops $40 Billion
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Buoyed by soaring crude oil prices, Exxon Mobil announced yesterday that it set new records for U.S. quarterly and annual corporate profits in 2007, and Chevron, the nation's second-largest oil company, also reported big gains in earnings.
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Exxon Mobil Corp.  posted lower fourth-quarter earnings Thursday on weak natural gas prices and shrinking gasoline profits, but earnings for the full year 2006 were an eye-popping $39.5 billion, the highest in U.S. corporate history.
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Exxon Mobil Corp. XOM.N, the world's  largest publicly traded oil company, on Thursday reported a 56  percent rise in quarterly profit, driven by soaring oil and gas  prices.
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Record oil prices lifted Exxonâs fourth-quarter earnings to $11.66 billion, the highest ever operating profit by a U.S. company.
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Occidental Petroleum Corp. OXY.N,  among the top U.S. oil and gas producers, on Thursday said  quarterly profit shot up 70 percent, spurred by the dramatic  rise in oil and gas prices in recent months.
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NEW YORK - Stocks that were moving substantially or trading heavily Thursday on the New York Stock Exchange and Nasdaq Stock Market:  NYSE  Exxon Mobil Corp., up 50 cents at $74.61.  The company turned in a profit of $39.5 billion for 2006, the largest ever for a U.S.
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After months of soaring crude oil prices, BP, the world&#39;s second-biggest publicly traded oil company, reported a 43 percent rise in third-quarter profit on Tuesday and forecast
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Exxon Mobil Corp. XOM.N, the world's  largest publicly traded oil company, on Thursday reported a  rise in quarterly profit, driven by soaring oil and gas prices  in the quarter.
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(Corrects paragraph 2 to show Exxon Mobil is largest publicly traded U.S. oil company, not worldâs largest)
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ChevronTexaco Corp. CVX.N, the No. 2  U.S. oil company, on Friday said quarterly profit nearly  doubled, driven by record crude oil prices and soaring refining  margins.
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ConocoPhillips said that its fourth-quarter profit more than doubled because of high oil and gas prices and better refining margins.
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The company posted fourth-quarter profit of $414.9 million, helped by growth in emerging markets and the weaker dollar.
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Exxon Mobil made history on Friday by reporting the highest quarterly and annual profits ever for a U.S. company.
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Oil giant Royal Dutch Shell Plc posted record European company earnings of $27.6 billion in 2007, but fourth-quarter profit missed forecasts.
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Exxon said it would spend much of the record $39.5 billion it earned last year by increasing investment in oil and natural gas projects.
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Exxon Mobil Corp. XOM.N, the world's  largest publicly traded oil company, on Thursday reported a 56  percent rise in quarterly profit, driven by soaring oil and gas  prices in the quarter.
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ChevronTexaco Corp., the No. 2 U.S. oil company, on Friday reported a rise in quarterly profit, pumped up by record oil and gas prices and gains on asset sales.