Exxon Sign
Exxon Mobil strikes again. Between July and September they have made the highest profit an US company has made over three months.
For Exxon 2008 has been a very prosperous year, and they managed to get high profits even when the oil prices were continuously rising.
They made $11.68bn in the second quarter of this year, and an amazing &14.83bn in the third quarter, which meant a 58% rise compared to last year profits for the same period.
The profits made up until this point are 29% higher than the ones they obtained in the first nine months of 2007, and company representatives attribute this success to their way of approaching the business, which implies a strict discipline.
The oil prices have fallen $1.91 and reached a new low of $65.59 a barrel for the December deliveries.
Also, Exxon’s activity has been temporarily affected by the hurricanes Gustav and Ike which will cause the company to lose about $500m of the Oct-December profits.
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This post was written by Dana Ciucalau on October 31, 2008
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