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Article: Exxon Mobil Posts Record Annual Profit
- Article from:
- AP Online
- Article date:
- February 1, 2007
CopyrightCopyright 2007 Associated Press/AP Online. This material is published under license from the publisher through YellowBrix, Alexandria, Virginia. All inquiries regarding rights should be directed to YellowBrix. (Hide copyright information)
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HOUSTON - Oil giant Exxon Mobil topped its own record for the biggest annual profit by a U.S. company last year, racking up earnings that amounted to $4.5 million an hour for the world's largest publicly traded oil company.
It reported the record net income - $39.5 billion - despite a 4 percent drop in earnings in the final three months of 2006, as prices for oil and natural gas fell from extraordinary levels earlier in the year.
Lower commodity prices may linger for at least the first part of 2007, even as the cost of doing business rises because of factors such as a shortage of drilling equipment and labor.
So while big players like Exxon Mobil Corp., Chevron Corp. and ConocoPhillips ...