Exxon Mobil's profit sets new record--

Exxon Mobil's profit sets new record

2008-02-02 09:43:45 [ Big Normal Small ] 　Comment

Exxon Mobil delivered its strongest performance ever last year due to surging oil prices, the company said Friday.

The world's largest oil company earned a record 40.6 billion U.S. dollars in net income, a 3 percent increase from the previous year.

Exxon exceeded its own record for profits at an American corporation, set in 2006, and is nearly twice what it earned in 2003.

The oil giant said its fourth-quarter net income rose 14 percent, to 11.7 billion dollars, or 2.13 dollars a share.

The company recorded annual sales of 404.5 billion dollars, up 7 percent from 2006.

But oil production dropped by 6 percent in the last quarter, to2.5 million barrels a day, after the company pulled out of Venezuela.

Chevron, the second-largest American oil company, reported that its fourth-quarter net income rose 29 percent, to 4.87 billion dollars.

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