Perhaps if George W. were to take a few more hand-in-hand strolls through the garden with a few more dictator-princes, his friends in the oil business could make even more money.
Exxon Mobil Posts Profit on Crude Prices
IRVING, Texas – Exxon Mobil Corp., the world’s largest publicly traded oil company, said Thursday that first-quarter earnings soared 44 percent from last year, due mainly to strong crude and natural gas prices. The company said it will boost its share repurchase rate by $1 billion in the second quarter.
Net income surged to $7.86 billion, or $1.22 per share, from $5.44 billion, or 83 cents per share, a year ago. Excluding a $460 million gain on the sale of Exxon’s stake in China Petroleum and Chemical, the company earned $1.15 per share in the latest quarter.
Total revenue climbed to $82.05 billion from $67.60 billion last year.
Just something to think about the next time you fill up.