Refishowcase Business & Finance

ExxonMobil recorded a profit that fell 23 percent from last year to $ 6, 05 billion. Despite the fall, this number is a number that is better than previous market expectations.

Reporting from the AFP, Tuesday (2/2/2010), for full-year profits for ExxonMobil scored USD19, 3 billion, in which this figure has declined sharply as many as 57 percent compared to the profits that had printed registration USD45, 22 billion a year earlier.

“Although global economic conditions remain difficult, ExxonMobil delivered strong business results and built for long-term focus. We provide financial strength to continue investing in new energy supplies to help meet global energy demand and to fuel economic growth. Capital and exploration expenditures of $ 27, 1 billion in 2009, “said Chairman and Chief Executive Rex Tillerson ExxonMobil.

In the fourth quarter performance was the largest oil companies in the U.S. recorded a price per share of 1.27 dollars per share, better than the previously expected 1.19 dollars on Wall Street.

Tillerson said, the performance results are supported by lower refining results, the margin of fuel and natural gas lower, but the realizations partly offset by the production of crude oil higher.

The income for the period October to December rose six percent, better than previously estimated for USD89, 84 billion. But for 2009, revenue fell 35 percent from the previous year to USD310, 59 billion.

This result largely reflects the decline in global energy prices from record levels in 2008, which has pushed profits of ExxonMobil and other energy companies as well.

For information, crude oil prices had soared and reached a record USD147 per barrel in July 2008, had also fallen below USD34 per barrel in February 2009, which eventually re-surged back above $ 70 per barrel.

Most of ExxonMobil’s profits come from upstream, or production and exploration, which resulted in operating profit to $ 5, 78 billion. As for the downstream sector is derived from refining and marketing side of producing an operating loss of USD189 million as profit margins are lower.

Noted, ExxonMobil shares rose 2.02 percent in morning trading in New York to USD65, 73 per share. On the other hand, in the last week rival ExxonMobil, Chevron’s profit fell 37 percent to $ 3, 07 billion in the fourth quarter, with annual profits fell 56 percent to $ 10, 48 billion.

Meanwhile, ConocoPhillips reported profits last week for USD1, 2 billion in the fourth quarter and $ 4, 8 billion for this year. This figure rebound from 2008 when the cost of causing hefty losses.