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ExxonMobil Posts Record Annual Profit Of $36 Billion

The world's biggest energy group, ExxonMobil Corp., said Jan. 30 it reaped record profits of $36.1 billion in 2005 due to sky-high oil and gas prices. Annual profit increase 43% from 2004, while in the last three months of 2005 its earnings surged 27% to $10.71 billion -- one of the highest quarterly totals ever.

Chevron Corp. and ConocoPhillips Inc. have also reported huge income over last year, which could revive political attacks that the U..S oil majors are profiting unduly while Americans struggle to cope with high energy prices.

ExxonMobil chairman Rex Tillerson said the fourth-quarter profits reflected "higher crude oil and natural gas realizations and improved refining and marketing margins". He acknowledged "a great deal of public interest" in energy prices, but stressed: "Our strong financial results will continue to allow us to make significant, long-term investments required to do our part in meeting the world's energy needs."

Copyright Agence France-Presse, 2006

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