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Stock Option Trading Exxon Mobil Corp. (XOM.N), the world's biggest publicly traded oil company, on Thursday said quarterly profit surged 58 percent on higher oil and gas prices, improved refining and marketing results and the highest earnings on chemicals in five years.

Add to that his disdain for gay rights and his unflinching responses to critics of Exxon Mobil's business in repressive regimes, and Mr. day, company CEO.

Currency Day Trading The Irving, Texas company reported second-quarter net income of $4.17 billion, or 62 cents a share, 7 cents above the average analyst earnings forecast, according to Reuters Research, a unit of Reuters Group Plc. In the year-ago quarter, the company reported earnings of $2.64 billion or 39 cents.

Exxon Mobil also faces a lawsuit, filed in late June in federal court in Washington, D.C., by a labor advocacy group that alleges the company supported the military in Indonesia when it tortured and killed locals near the company's operations in the Aceh province. Exxon Mobil has denied that the company or its affiliates were involved in the alleged abuses by Indonesian security forces. "Exxon Mobil condemns the violation of human rights in any form, " the company said in a statement at the time.

Financial Software Trading ``Their foreign downstream results were the strongest in a while and chemicals was a big surprise,'' Fahnestock & Co. analyst Fadel Gheit said. ``Earnings from oil and gas was as expected, though production was disappointing.''

(AXcess News) Exxon Mobil Corp. ( XOM) Mart Stores ( WMT) from the Fortune 500 top rank thanks to higher energy prices which gave the oil and gas company record results for the year, lowering the nation's No. 1 retail chain store's rank to number two in the magazine's list of the 500 largest U.S. companies. Fortune magazine compiles its list of the top 500 companies based on revenue. Exxon Mobil had reported $340 billion in revenue for 2005, which was a 25.5 percent increase over the previous year. The oil and gas giant also reported the largest income of any U.S. company in history, reporting $36.1 billion in profits.

Online Stock Trading Company Exxon Mobil shares rose 82 cents, or 2.3 percent, to $36.14 in early afternoon trading on the New York Stock Exchange.

Mr. Raymond's stances have made for a rocky summer for Exxon Mobil. In July, ahead of a meeting of government officials in Bonn, Germany, gas emissions, activists staged dozens of demonstrations around the world to protest the company's stance on climate change. Some European Parliament members have joined an effort by environmentalists to boycott Exxon Mobil, and a "Stop Esso" effort in Britain (as the company brands its products there) has won the backing of celebrities such as Ralph Fiennes and Annie Lennox and companies including The Body Shop.

Forex Day Trading Second-quarter results have been powered by soaring commodity prices.

Exxon Mobil officials now say Mr. Raymond's statements on global warming have been largely misunderstood. While the company still believes the science is fuzzy, "uncertainty is no reason for inaction, " says Frank Sprow, Exxon Mobil's vice president for safety, health and the environment.

Financial In Market Crude oil and natural gas rose to record levels early this year as political unrest in Nigeria and Venezuela, plus the impending U.S. invasion of Iraq, raised supply fears. Energy prices fell from the first quarter, but have stayed historically high amid tight inventories and persistent problems in Iraq.

Stock Trading System Looking ahead, though, analysts warn the high prices won't last. Energy prices are expected to subside during the second half, while the third quarter is seasonally the period of weakest demand for refining and marketing.

Day Trading Stock Tip Already U.S. natural gas prices have dipped back below $5.00 per million BTUs as mild weather hurt demand. Nymex oil futures prices have fallen 15 percent since their highs in March.

Financial Forex Forex Software It was no surprise then that Exxon Mobil earnings plunged 69 percent from its record levels in the first-quarter. Since the middle of June, Exxon Mobil shares have fallen nearly 8 percent, lagging the Standard & Poor's 500 index, which was little changed, and underperforming the S&P Integrated Oil Company index, down 6.7 percent.

Stock Market Trading BROAD GAINS

Day Lesson Stock Tip Trading Exxon Mobil's worldwide exploration and production, the upstream side of the business, increased second-quarter earnings by 27 percent to $2.84 billion driven by commodity prices.

Financial System Trading However, oil and gas output slipped 0.1 percent to 4.02 million barrels per day, as increases from European gas and new projects worldwide were offset by natural declines and some operational outages in the North Sea and West Africa.

Day Trading Future Exxon said the project problems have already been fixed.

Financial Forex Market Trading The quarter also illustrates the challenge Exxon Mobil faces trying to increase production, analysts said, given its colossal size. The company also is more concerned about increasing returns on capital invested.

Online Trading Stock And Earnings from refining and marketing, or the downstream, doubled to $1.15 billion thanks to wider margins and expanded sales. Downstream earnings outside the United States were especially strong, rising four-fold from last year.

Day Trading Software Perhaps the biggest surprise of the quarter came from the chemicals business. Typically a drag on results, second-quarter chemicals earnings surged 63 percent to $439 million, the highest level since 1998, Exxon Mobil said.

Financial Market Science Lower raw material and energy costs since the first quarter, combined with stronger sales, cost cutting and the benefits of a weak dollar boosted returns.

Stock Trading Software Overall Exxon Mobil revenue rose by 12 percent to $57.2 billion from the prior-year quarter. That strong cash flow helped the company to boost capital and exploration spending by 13 percent to $3.83 billion.

Emini Day Trading Exxon Mobil also used the strong cash flow to increase the pace of its stock buybacks in July. The company repurchased 33 million of its shares for $1.19 billion during the quarter, to offset benefit plans and reduce shares outstanding.

Financial Sales Services Reuters - 7/31/2003

Topic: Petroleum Industry

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