Exxon Mobil's 2nd Quarter Profits Up 36 Percent
IRVING, Texas --- Thanks to high oil prices and global demand, combined with improved refining margins and new field production in Nigeria, Exxon Mobil reported a $10.36 billion profit in the second quarter. That's the second largest quarterly profit every posted by a publicly traded American company.
The earnings for the quarter were 36 percent higher than those reported a year ago, the Associated Press reported. "We're selling everything we can make," Henry Hubble, Exxon's vice president of investor relations, told analysts.
Exxon Mobil's major competitors also saw big earnings for the quarter. BP PLC this week reported its quarterly profit rose 30 percent to $7.3 billion. Royal Dutch Shell PLC's second-quarter earnings climbed 40 percent to $7.32 billion. ConocoPhillips reported its earnings rose 65 percent to $5.18 billion.