Exxon Mobil, Shell Report Record Annual Profits
HOUSTON --- The two largest publicly traded oil companies --- Exxon Mobil and Royal Dutch Shell --- last week reported record annual profits in 2006. They made $180 million a day between them. Exxon reported annual profit of $39.5 billion, or $6.62 a share, for 2006. This represents the company's second straight annual record -- once again, the largest profit reported by any American company in history. Shell's income in 2006 was $25.44 billion, up from $25.3 billion the previous year.Even in unstable places like Chad and Nigeria, the oil giants showed their ability to ramp up production worldwide, according to a report last week in the New York Times. Though smaller oil companies struggled in the fourth quarter, Exxon Mobil and Royal Dutch Shell successfully navigated the year's volatile energy prices.