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NEWS: Exxon Mobil profits exceed $25bn

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posted on Jan, 31 2005 @ 06:21 PM
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Exxon Mobil's profits rose to $25.33 billion. The increasing demands for oil from China and India along with worries of increasing problems in the Middle East have fueled a rise in prices to a thirty year high. The Texas based company exceeded market expectations.
 



news.bbc.co.uk
US oil giant Exxon Mobil made a record $25.3bn (£13.4bn; 19.4bn euros) profit in 2004 as it exploited the surge in crude oil prices.
The world's largest public oil company saw income from exploration, production and refining soar despite a decline in the amount of oil and gas produced.
Revenues hit a record $298bn as worries over disruption to oil supplies in Iraq, Nigeria and Russia lifted prices. The firm's annual profit is higher than the gross domestic product of Syria.
Exxon Mobil's profits rose to $25.33bn from $21.51bn last year, on revenues up 17% to $298bn. The strong performance boosted its shares, which rose 39 cents to $51.66 in early trading.


Please visit the link provided for the complete story.


In a troubled economy when rising gas prices concern middle-class hardworking people and people in the United States continue to sink below the poverty line, it's nice to know companies have benefited from our exploitation. Or in the words of Chairman Lee Raymond, "Strong operational performance in all areas of our business helped Exxon Mobil capture the benefits of favourable market conditions in 2004."




posted on Jan, 31 2005 @ 07:21 PM
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Nice to see a new face. erm. Hear a new voice.

Production went down, but profits went up 17%. Bet the farmers and ranchers wish they were so lucky. ...As a matter of fact, I could use some "favorable market conditions" myself.


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posted on Jan, 31 2005 @ 07:50 PM
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I hate to reduce everything to politics, but we can thank our current leaders for the "favourable market conditions" and their professional connections in the oil industry.



posted on Feb, 1 2005 @ 03:02 AM
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At least Exxon has now the funds to develope Alaska oilfields.



posted on Feb, 1 2005 @ 06:23 AM
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Gee, think they'll use a few billion of it at least to look into developing a cleaner, more environmental freindly energy source? maybe lessen THEIR DEPENDENCE on the Middle East oil reserves....so we can quite worrying about keeping the area stable for them?



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