Article: Exxon Mobil, Sunoco Profits Decline

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Title: Exxon Mobil, Sunoco Profits Decline

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Exxon Mobil Corp. and Sunoco Inc. reported large declines in fourth quarter profits Wednesday because of a steep drop in the price of crude and weak demand for refined products in a poor economic environment.

Annual profits for both companies were down compared with 2000, although executives said they remain hopeful for a turnaround in 2002.

Exxon Mobil met Wall Street's earnings expectations, while Sunoco surpassed them. The stock prices of both companies rose Wednesday on the New York Stock Exchange.

Exxon Mobil Corp.

The world's largest oil company said Wednesday that fourth quarter profits fell 44 ...

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