Exxon Mobil profit rises on soaring prices
http://today.reuters.com/news/articlenews.aspx?type=businessNews&storyid=2006-04-27T124209Z_01_WAA000191_RTRUKOC_0_US-ENERGY-EXXON-EARNS.xml&rpc=23
Thu Apr 27, 2006 8:42am ET
NEW YORK (Reuters) - Exxon Mobil Corp., the world's largest publicly traded oil company, on Thursday reported quarterly profit surged, driven by rising oil prices.
Net income in the first quarter was $8.4 billion, or $1.37 a share, up from $7.86 billion, or $1.22 a share, a year earlier.
Revenue jumped to $88.98 billion from $82.05 billion.
Crude oil prices have risen steadily from about $20 a barrel in 2002 to over $75 last week, handing oil and gas companies a long-running profit bonanza.
But the fat profits have also angered U.S. drivers grappling with rising gasoline prices and provoked sharp criticism of Big Oil from lawmakers and consumer advocates.
http://today.reuters.com/news/articlenews.aspx?type=businessNews&storyid=2006-04-27T124209Z_01_WAA000191_RTRUKOC_0_US-ENERGY-EXXON-EARNS.xml&rpc=23
Thu Apr 27, 2006 8:42am ET
NEW YORK (Reuters) - Exxon Mobil Corp., the world's largest publicly traded oil company, on Thursday reported quarterly profit surged, driven by rising oil prices.
Net income in the first quarter was $8.4 billion, or $1.37 a share, up from $7.86 billion, or $1.22 a share, a year earlier.
Revenue jumped to $88.98 billion from $82.05 billion.
Crude oil prices have risen steadily from about $20 a barrel in 2002 to over $75 last week, handing oil and gas companies a long-running profit bonanza.
But the fat profits have also angered U.S. drivers grappling with rising gasoline prices and provoked sharp criticism of Big Oil from lawmakers and consumer advocates.