alternative reader no. 129
Exxon Mobil
Profit Rises on Soaring Prices
BY
Reuters
New York
- 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.
27 April
2006
Posted by
Bulatlat
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