Profits record for Exxon Mobil
Oil giant Exxon Mobil set a milestone for global company profits today by revealing it made $33.86bn (€28bn) in its last financial year.
Sky-high crude oil prices helped the Texas-based firm achieve the biggest surplus yet in corporate history – shattering the $25.88bn (€21.4bn) record it had held since last year.
The world’s largest listed oil firm, which operates as Esso in Ireland and the UK, said higher crude oil and natural gas prices and improved refining and marketing margins contributed to the haul.
It comes as investors prepare for the highest UK profits from Royal Dutch Shell, which is tipped to reveal it made around £12.9bn (€10.7bn) on the back of the rapid rise in oil prices in the past 12 months.
Exxon’s earnings excluded exceptional items relating to factors such as acquisitions. Including these items, net income for the year rose 43% to $36.13bn (€30bn).
