Mercedes-Benz Forum banner

1 - 20 of 44 Posts

·
BenzWorld Elitist
Joined
·
11,490 Posts
Discussion Starter #1
February 1, 2008
Exxon Mobil Profit Sets Record Again
By JAD MOUAWAD

Exxon Mobil delivered its strongest performance ever last year, earning a record $40.6 billion in net income because of surging oil prices, the company said Friday.

The figure, a 3 percent increase from the previous year, exceeded the company’s own record for profits at an American corporation, set in 2006, and is nearly twice what it earned in 2003.

Exxon said its fourth-quarter net income rose 14 percent, to $11.7 billion, or $2.13 a share. That also made it the company’s most profitable quarter ever.

The top Western oil companies are having a tougher time finding reserves and expanding their production as access to resources has tightened in recent years in places like Russia and Venezuela and conventional sources of oil dries up in the North Sea. The industry is also being pressured by rising costs and shortages of workers, rigs and engineering capacity.

But Exxon, like most oil companies, has benefited from a near-doubling of oil prices last year. In New York, oil futures rose from a year-low of about $50 a barrel in early 2007 to a peak of nearly $100 by the end of the year.

The company recorded annual sales of $404.5 billion, up 7 percent from 2006. It had $20.9 billion in capital and exploration expenditure, up $1 billion from the previous year.

Exxon expanded its hydrocarbons production in the fourth quarter by 1 percent, thanks to growing natural gas output from its projects in Qatar. Natural gas production rose 12 percent, to 10.4 billion cubic feet a day, in the fourth quarter.

But oil production dropped by 6 percent in the last quarter, to 2.5 million barrels a day, after the company pulled out of Venezuela.

http://www.nytimes.com/2008/02/01/business/01cnd-exxon.html
 

·
Moderator
Joined
·
66,891 Posts
Oh yeah, circumstance you say, well guess what: There is a shortage of alkalytes (the stuff that was substituted for MTBE) for mixing at the refining process for the summer blend. Why in the hell is there such shortage in a world where computer modeling runs supreme? It's simple, it's planned to make sure we end up paying inflated prices at the pump for the "limited" quantities of refined gasoline. The bottom line we are the victims taken to the slaughter house while they get away with it because of an oopsie. Plan on $4.00 a gallon by the summer folks, it's just the way it is and you can't do a damned thing about it. Remember that pushing prices to this level also serves as priming for your poor minds to accept even higher prices. It's simple psychology you dumb dumbs, cough it up and take it up the arse with no lube... Oh lube is a petroleum product too
 

·
Registered
Joined
·
29,576 Posts
But hey, this will keep the energy sector trending up for another quarter which might keep the aggregate economy from being called a recession. Go Exxon.
 

·
BenzWorld Elitist
Joined
·
11,490 Posts
Discussion Starter #5
The fun never stops

NEW YORK (MarketWatch) -- Exxon Mobil Corp.'s third-quarter net income rose 58% to a new record of nearly $15 billion, the energy giant said Thursday, in a likely swan song for groundbreaking profits tied to this past summer's triple-digit prices for crude oil.

That's a rate of $60 Billion per year in profit. Next time we get a republican president, I hope I'll have the sense to invest in the oil bidness! :banghead:
 

·
Outstanding Contributor Always Remembered RI
Joined
·
52,804 Posts
NEW YORK (MarketWatch) -- Exxon Mobil Corp.'s third-quarter net income rose 58% to a new record of nearly $15 billion, the energy giant said Thursday, in a likely swan song for groundbreaking profits tied to this past summer's triple-digit prices for crude oil.

That's a rate of $60 Billion per year in profit. Next time we get a republican president, I hope I'll have the sense to invest in the oil bidness! :banghead:
Bush was too busy listening to his military advisers and did not pay enough attention to the market. But this was a minor mistake and will only cost America it's economy so what the hell lets go kill some more rag heads:rolleyes:

When the bankers have run away with the money that B gave em, who will pay for the dead and wounded? Who gives a shit lets kill a few more rag heads?:rolleyes:

Anyways back to the agenda and Iran/Syria are on the rag head hit list:rolleyes:

OH and whilst I think about it why has Mr B not given Russia any more slaps over Georgia? Because his military advisers suggested otherwise or simply because they are powerful and also not rag heads but simply vodka slurping hooligans?

Now he wants immunity from war crimes prosecution:rolleyes:

Simply put, is there any difference between the ex Iraq leader and George Bush? YES; not a lot but the last Iraq leader ran his country and did not ruin
it.

OK rant over
 

·
Registered
Joined
·
19,471 Posts
They also set a record for taxes payed:thumbsup:
 

·
Registered
Joined
·
6,663 Posts
Oh yeah, circumstance you say, well guess what: There is a shortage of alkalytes (the stuff that was substituted for MTBE) for mixing at the refining process for the summer blend. Why in the hell is there such shortage in a world where computer modeling runs supreme? It's simple, it's planned to make sure we end up paying inflated prices at the pump for the "limited" quantities of refined gasoline. The bottom line we are the victims taken to the slaughter house while they get away with it because of an oopsie. Plan on $4.00 a gallon by the summer folks, it's just the way it is and you can't do a damned thing about it. Remember that pushing prices to this level also serves as priming for your poor minds to accept even higher prices. It's simple psychology you dumb dumbs, cough it up and take it up the arse with no lube... Oh lube is a petroleum product too
Oh I don't know, maybe you should ask the Chinese and the Indians. I keep telling you guys, we are not in the driver's seat when it comes to demand anymore.

It really isn't any conspiracy. Just weak minded individuals who want it to be a conspiracy.
 

·
Surely A Large Human
Joined
·
35,725 Posts
Oh I don't know, maybe you should ask the Chinese and the Indians. I keep telling you guys, we are not in the driver's seat when it comes to demand anymore.

It really isn't any conspiracy. Just weak minded individuals who want it to be a conspiracy.
Why don't you spend 30 seconds on Google before you spout off like that?

NationMaster - Oil > Consumption (most recent) by country


#1 United States: 20,730,000 bbl/day
#2 China: 6,534,000 bbl/day
#3 Japan: 5,578,000 bbl/day
#4 Germany: 2,650,000 bbl/day
#5 Russia: 2,500,000 bbl/day
#6 India: 2,450,000 bbl/day
#7 Canada: 2,294,000 bbl/day
#8 Korea, South: 2,149,000 bbl/day
#9 Brazil: 2,100,000 bbl/day
#10 France: 1,970,000 bbl/day​

Or perhaps you favor Wikipedia...

http://en.wikipedia.org/wiki/Petroleum#Consumption

In thousands of bbl per day
1 United States 20,588
2 China 7,274
3 Japan 5,222
4 Russia 3,103
5 Germany 2,630
6 India 2,534
7 Canada 2,218
8 Brazil 347
9 South Korea 2,157
10 Saudi Arabia (OPEC) 329​

Lemme help you out. Our demand for oil is over TWICE that of China and India, COMBINED.
 

·
BenzWorld Elitist
Joined
·
11,490 Posts
Discussion Starter #10
^^^

Wow. Because if you do the math, the disparity on a per-capita basis is really blinding. Wow.
 

·
Registered
Joined
·
6,663 Posts
Why don't you spend 30 seconds on Google before you spout off like that?

NationMaster - Oil > Consumption (most recent) by country


#1 United States: 20,730,000 bbl/day
#2 China: 6,534,000 bbl/day
#3 Japan: 5,578,000 bbl/day
#4 Germany: 2,650,000 bbl/day
#5 Russia: 2,500,000 bbl/day
#6 India: 2,450,000 bbl/day
#7 Canada: 2,294,000 bbl/day
#8 Korea, South: 2,149,000 bbl/day
#9 Brazil: 2,100,000 bbl/day
#10 France: 1,970,000 bbl/day​

Or perhaps you favor Wikipedia...

Petroleum - Wikipedia, the free encyclopedia

In thousands of bbl per day
1 United States 20,588
2 China 7,274
3 Japan 5,222
4 Russia 3,103
5 Germany 2,630
6 India 2,534
7 Canada 2,218
8 Brazil 347
9 South Korea 2,157
10 Saudi Arabia (OPEC) 329​

Lemme help you out. Our demand for oil is over TWICE that of China and India, COMBINED.
Ok let's try a simple exercise.

Answer this question. What market has direct control over oil prices?
 

·
Surely A Large Human
Joined
·
35,725 Posts
Ok let's try a simple exercise.

Answer this question. What market has direct control over oil prices?
Well, various types and grades of oil are traded on several markets; I think your question belies additional ignorance regarding this process.
 

·
Banned
Joined
·
17,697 Posts
Hey dud there ant no 4th quarter. its oct.

Could you please be so kind as notifying EXXON that they have released the wrong report, I am sure they would be so grateful that they would help you pull your head out of your ass.............oh sorry, just saw you are a BMWGUY, have you consulted a doctor about having it surgically removed........




Exxon 3rd-quarter profit soars 58 pct to new record



Thursday October 30 2008

HOUSTON, Oct 30 (Reuters) - Exxon Mobil Corp posted another record quarterly profit on Thursday, beating estimates, on higher profit in its exploration and production business and and improved margins in its refining unit.
Even as crude oil prices drop and a global credit crunch threatens oil demand, investors expect the world's largest publicly traded company to continue on a similar course.
Since peaking in July above $147 per barrel, crude oil futures CLZ8> have tumbled more than 50 percent and were losing more ground on Thursday.
"Exxon is very good at what they do and they are too large a company to respond to gyrations in the oil market," said Mark Coffelt, head portfolio manager at Empiric Advisors Inc in Austin, Texas. "I think they will probably use cash to raise their dividend and keep buying back stock."
Earlier this month, Exxon Chief Executive Rex Tillerson said the company plans to stick to its five-year, $125 billion capital expenditure plan, even with financial markets in turmoil. The company has $37 billion in cash.
Profit in the third quarter for the world's largest publicly traded company was $14.83 billion, or $2.86 per share, compared with $9.4 billion, or $1.70 per share, in the same period a year ago.
"U.S. downstream was up from last year, so that was a positive surprise," said Gene Pisasale, senior energy analyst with PNC Capital Advisors. "They have the strongest balance sheet in the business."
Still, Exxon will need to be more aggressive in exploration going forward, the analyst said.
Energy investors are concerned the credit crisis will trigger a global recession and cut demand for oil. As a result, the spending plans for oil majors such as Exxon will be carefully scrutinized.
Excluding a gain related to the sale of a natural gas transportation business in Germany, Exxon earned $13.38 billion, or $2.59 per share. The huge profit was another record for the oil producer and the largest ever for any U.S. publicly traded company on an operating basis.
Analysts had expected the Irving, Texas, company to report a profit of $2.38 per share, according to Reuters Estimates.
The company said it was still recovering from hurricanes Ike and Gustav, which cut third-quarter production by 24,000 barrels oil equivalent per day.
The storms, which battered the U.S. Gulf Coast, are expected to reduce the company's fourth-quarter earnings by about $500 million, Exxon said.
Production decreased 8 percent from a year ago. On a conference call with analysts, the company said its output should increase in 2009.
Earnings in Exxon's exploration and production unit, excluding the sale of the German gas business, were $9.35 billion, up $3 billion from a year ago.
The company's refining arm saw profits rise $1 billion to $3 billion.
During the quarter, the oil company purchased $8 billion of its shares, reducing the number outstanding by 2.1 percent.
Exxon shares were off 3 percent at $72.40 on the New York Stock Exchange. So far this year, the stock has fallen 20 percent, outperforming a 36 percent drop in the Chicago Board Options Exchange index of oil companies .OIX>. (Additional reporting by Matt Daily in New York, editing by Dave Zimmerman and Matthew Lewis)

Business Feed Article | Business | guardian.co.uk
 

·
BenzWorld Elitist
Joined
·
11,490 Posts
Discussion Starter #17
Plan on $4.00 a gallon by the summer folks, it's just the way it is and you can't do a damned thing about it.
Actually, anyone reading and believing could have made a killing in petroleum futures ;)
 

·
Moderator
Joined
·
66,891 Posts
Oh yeah, circumstance you say, well guess what: There is a shortage of alkalytes (the stuff that was substituted for MTBE) for mixing at the refining process for the summer blend. Why in the hell is there such shortage in a world where computer modeling runs supreme? It's simple, it's planned to make sure we end up paying inflated prices at the pump for the "limited" quantities of refined gasoline. The bottom line we are the victims taken to the slaughter house while they get away with it because of an oopsie. Plan on $4.00 a gallon by the summer folks, it's just the way it is and you can't do a damned thing about it. Remember that pushing prices to this level also serves as priming for your poor minds to accept even higher prices. It's simple psychology you dumb dumbs, cough it up and take it up the arse with no lube... Oh lube is a petroleum product too
I was right then and I have been proven right now. This shit IS A SCAM!
Let's keep burying our heads in shit and have the likes of TNT give us the apologies and masked reasoning as to why we get fleeced:mad:
 

·
Moderator
Joined
·
66,891 Posts
They also set a record for taxes payed:thumbsup:
Yes, that the shit I am talking about, go deeper my friend go deeper, eat it up!
They have more tax breaks than you have fingers and toes (since that might be extent of your counting abilities).
 
1 - 20 of 44 Posts
Top