Exxon Mobil profits exceed $25bn

[edbermac]

Thank God! It shows that 1,500 of our boys over in Iraq have not sacrificed their lives in vain...

http://news.bbc.co.uk/2/hi/business/4223573.stm

"US oil giant Exxon Mobil made a record $25.3bn (£13.4bn; 19.4bn euros) profit in 2004 as it exploited the surge in crude oil prices.
The world's largest public oil company saw income from exploration, production and refining soar despite a decline in the amount of oil and gas produced.

Revenues hit a record $298bn as worries over disruption to oil supplies in Iraq, Nigeria and Russia lifted prices.

The firm's annual profit is higher than the gross domestic product of Syria.

Exxon Mobil's profits rose to $25.33bn from $21.51bn last year, on revenues up 17% to $298bn.

EDITED BY ADMIN: COPYRIGHT

[cthrumatrix]

1. the Iraq oil contracts are not going to Iraqis.... the Russian and French

contracts are ripped up.... so what does this look?

Anyone care to say "oil theft"?

[98geoduck]

2. And i thought my $2.25/ per gallon went to Saudia Arabian pockets...

I feel better now knowing it went into the hands of *Inc.
I'm sure they'll prop up the market for a short while with this.

[Nicholas D Wolfwood]

3. Cries poverty, then reports record profit... sounds like...

THE INSURANCE INDUSTRY!!!

Both striving to fuck you over with each and every breath you take.

[welshTerrier2]

4. finally, the Iraq war starts turning a profit ...

let's be clear on this ...

the more oil markets are destabilized, the greater the profits of these pig corporations ...

it's time to strip their power and the power and wealth of their largest shareholders ... if you're serious about "supporting the troops", that's the train you need to be riding on ... our government has been sold to these people and they continue to fiddle and dance while our country slowly dies ...

what clearer example of capitalism's effect on democracy could you possibly ask to see ???

[DemoTex]

5. Shell profits set to gush to record high

Shell, the beleaguered oil giant, is set to report record profits this week on the back of exceptionally strong crude prices.

The City is expecting a massive 180 per cent increase in fourth quarter 2004 profits to $4.82bn (£2.5bn), fuelled by strong refining margins and buoyant demand for petrochemicals. Full-year profits are set to come in at $17.4bn, up 55 per cent from last year.

The Anglo-Dutch oil group is hoping that the bumper profits will help it to draw a line under a year during which it was forced to admit that it had overbooked its oil and gas reserves by more than 25 per cent. The scandal led to the departure of its three most senior executives, including Sir Philip Watts, the chairman. The oil giant was also forced to announce plans to scrap its complex dual structure in favour of a single board and a unified company. (More at link)

http://business.telegraph.co.uk/money/main.jhtml?xml=/money/2005/01/30/cnshel30.xml&menuId=242&sSheet=/money/2005/01/30/ixcity.html

This is why wind-fall profits taxes are needed.

[Moderator]

6. edbermac

Per DU copyright rules
please post only four
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Thank you.


DU Moderator

[roxster13]

7. this makes me sick

They are making record profits and we pay outrageous prices, why do the American people stand for this? Why is this? I thought they were saying it's costing them more to obtain the gas....really? I thought our taxpaying dollars was helping with that, so where do they have to cough up money? Just sickening and not one newscast about this besides bragging about the money this corporation has made.