Exxon tops 100 billion dollars in sales in one quarter.....

[Justin_stacy]

DALLAS - High prices for oil and natural gas propelled Exxon Mobil Corp. and Royal Dutch Shell PLC to their best quarterly results ever on Thursday, with Exxon becoming the first U.S. company ever to ring up quarterly sales of $100 billion.

To put Exxon's performance into perspective, its third quarter revenue was greater than the annual gross domestic product of some of the largest oil producing nations, including the United Arab Emirates and Kuwait. The world's largest publicly traded oil company also set a profit record for U.S. companies by posting net income of almost $10 billion, according to Standard & Poor's equity market analyst Howard Silverblatt.

Both Exxon and Shell said their performances were buoyed by higher crude-oil and natural-gas prices, even as output suffered due to a busy hurricane season in the Gulf of Mexico. The companies noticed slight decreases in fuel demand.

Exxon's net income ballooned 75 percent to $9.92 billion, compared with $5.68 billion a year ago. The previous oil-industry earnings record was Exxon's 2004 fourth-quarter profit of $8.42 billion. Revenue grew to $100.72 billion from $76.38 billion in the prior-year period.

At Shell, third-quarter net income grew 68 percent to $9.03 billion, compared with $5.37 billion a year earlier. Revenue at the Anglo-Dutch company rose 8 percent to $76.44 billion.


http://news.yahoo.com/s/ap/20051027/ap_on_bi_ge/earns_oil_6

[open mind]

.............yay for the oil companies???

[Cal Smith]

perhaps i should have went into the oil industry.......

[when 4ever ends]

wow

[youcomebeforeyo]

Well this marginal profit margins like this I can fully understand the need for oil companies to hold out and not build extra refining capacity. Profits are just too tight to be able to afford that.

[Cal Smith]

Well this marginal profit margins like this I can fully understand the need for oil companies to hold out and not build extra refining capacity. Profits are just too tight to be able to afford that.

Yeah it's ridiculous that more oil refineries arent being built and thankfully you are seeing more of a push by congress to get companies to spend these profits on more refineries. Enviromentalists have also played a major role in keeping them from being built.

It's ironic to think that oil companies can partly attribute these profits to enviromentalists.

[Dan Hollister]

Yeah, the problem is that there's nowhere to drill! So we don't want to drill in other countries, because that's apparently bad... but the same people stop us from drilling in our own country... perhaps we should just give in to the environmentalists and form an agrarian society?

[youcomebeforeyo]

It's not drilling it's refining.

A refinerey is not an easy building to construct, vast pipelines direct from oil fields are required. The world is pumping more than enough oil even in the latest hurricanes, but it isn't refining enough meaning there is more demand for less product.

[getupkid53]

Yeah, I heard this morning that the senator from illinois is asking the oil companies to reinvest their profits in that wobbly wobbly stock market. I'm sure they will be more than willing to put OUR hard earned money back into a market to help out the economy considering their profits are a direct result of raping us blindly.

[Paul Tao]

Shell had a 9 billion dollar profit too. Up 68%

[siberianxkiss]

frist wants oil probe
http://news.yahoo.com/s/nm/20051027/pl_nm/energy_congress_republicans_dc_3

bout time huh?

[Paul Tao]

frist wants oil probe
http://news.yahoo.com/s/nm/20051027/pl_nm/energy_congress_republicans_dc_3

bout time huh?
I hadn't heard about this. I'm impressed.

[FightBackHarder]

nah, government can't and shouldn't do shit, they couldn't do anything worthwhile anyways

and the oil companies won't cut prices, if you were making record profits, most of you wouldn't either. The lesson here, don't depend on oil so much or else someone will get you by the balls.

for the record i invested in oil companies before the price boom, and have made a nice little chunk o' change off it. weee

[siberianxkiss]

yeah dont depend on oil so much. guess i should find something else to heat my apartment with

[Paul Tao]

Besides the obvious (lack of gas for cars, planes, etc.), I wonder what the world will be like without plastic when we run out of oil. Hopefully something else will have been invented by then.

[zach]

I couldn't stand to live in a world without plastic!

[commatosa]

I say we put a gun to the CEO of Exxon's head and say "listen mother fucker, bring those prices down or I'll blow your fucking brains out!"

[FightBackHarder]

I say we put a gun to the CEO of Exxon's head and say "listen mother fucker, bring those prices down or I'll blow your fucking brains out!"

http://en.wikipedia.org/wiki/Stalin