Rockefeller's ExxonMobil fights with crisis
by Barbora Misakova
The Exxon Mobil Corporation, known as ExxonMobil for short was formed in 1999 by the merger of two major oil companies Exxon and Mobil. As it reunited the two largest companies, ExxonMobil represents unique American oil and gas corporation with the status of the world’s second largest publicly traded company. Against this fact the crisis hit also ExxonMobil, the Rockefeller’s company. The fourth-quarter profit fell 23 percent in comparison with last year to 6.05 billion dollars. As the largest US oil company it was used to hold the all-time US profit record which was 45.22 billion dollars a year. In comparison with 2009 profit which is only 19.3 billion dollars ! including special items, it is hardly to believe it is the biggest oil company not only in the USA but in the world. Sharp 57 percent drop is usually a clear sign of crisis, but as said Rex Tillerson, chairman and chief executive: “Despite continuing difficult global economic conditions, ExxonMobil delivered strong business results and built on our long-term focus.” The fourth-quarter’s 1.27 dollars per share was after all better than market expectations of 1.19 dollars per share. Revenues for 2009 slumped 35 percent from a year ago, what is a result of massive drop in global energy prices from record levels in 2008 when a barrel of crude oil costs 147 dollars. The full-year profit of ExxonMobil was boosted by a gain from the sale of a natural gas what represents the amount of 1.6 billion dollars. Rex Tillerson continued: “Our financial strength provided us with the foundation to continue investing in new energy supplies to help meet global energy de! mand and to fuel economic growth.”
related story ! ( sgx16328): http://www.france24.com/en/20100201-exxonmobil-profit-6bln-4...
by Barbora Misakova for SigEx Ventures (http://sigexventures.com) |
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