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Several integrated oil and gas companies such as ExxonMobil, Chevron, Shell and ConocoPhillips have revealed plans to contribute an initial $1 billion for the development of a modular, rapid-response blowout plan in the deepwater Gulf of Mexico. The main aim is to prevent an oil spill as the one caused by BPEs Macondo runaway well in the Gulf of Mexico.

ExxonMobil on March 11, 2010 announced plans to increase spending for the year by 3% to US$28 billion. The refiner will also maintain its multi-year target of US$25-US$30 billion per year despite short-term challenges such as refining over-capacity and poor demand.

ExxonMobil posted lower than expected financial results for the 2003 third quarter. Also, the company's global gas production has fallen by 10%. ExxonMobil posted $3.65 billion in earnings for the quarter.

ExxonMobil?s share price increased 2.4 on July 31, 2003 to above $36 on news that the company?s second quarter was $4.17 billion. The company also announced it would expand its share buy-back program.

Earnings of both ChevronTexaco and ExxonMobil fell again in the third quarter of the year 2002. Reasons include write-downs, week and falling margins, and unfavorable foreign currency exchange.

Wall Street analysts were startled by Exxon Mobile Corp.'s 2nd-quarter financial report released on August 1, 2002. The company had a 41% drop in profits from the same period in 2001 and reported earnings of only $0.39 per share.

First Quarter results in earnings and profits for Exxon Mobil Corp. were grim and its second quarter figures were not expected to be any much better. Other companies like Phillps Petroleum, Marathon, Imperial Oil and Petro-Canada also reported dismal figures.

ExxonMobile reported third quarter 2001 revenue of $53 billion, but earnings per share were down 23% from the same period last year. Falls in liquids and gas outputs are discussed along with market factors influencing the financial information for the quarter.

Earnings at Exxon Mobil Corp for the 3rd qtr of the year 2001 were down although production rose 1% for the period ended Sep 30, 2001. Revenues fell from $58.6-bil for the 3rd qtr of 2000 to $53-bil for 2001's comparable period. The company had set a target of a 3% production growth rate for the quarter.

ExxonMobil and Chevron had strong second quarter earnings as analysts had predicted. Wall Street reported, however, their stocks fell because production volumes were flat in spite of an increase in capital spending and high commodity prices.

US energy firm ExxonMobil saw operating earnings rise 51% in 1st qtr 2001 vs the prior-year period, to USDlr5.05 bil, on revenue of USDlr57 bil. Net profit from global upstream operations was up 37% to USDlr3.8 bil.

Issues are presented concerning the record quarterly profits of $4.15-billion which were reported by ExxonMobil in July 2000. Much of the growth came from higher gas and oil prices and from savings following the merger of Exxon and Mobil.

ExxonMobil and Texaco reported unexpectedly high earnings for the first quarter of 2000, in spite of weak downstream results. ExxonMobil almost doubled its revenues with a rise of 42% to $55-billion compared to the same period in 1999.

Despite poor refining results, both Chevron and ExxonMobil's upstream earnings have helped their bottom lines in fourth quarter 1999.

ExxonMobil expects its merger benefits to reach $3.8 billion/ year before tax, up $1 billion from previous predictions.

Decreasing petroleum refining margins had affected Exxon Corp's profits in the 3rd qtr of 1999. The company reported $1.5 bil in net profits in the quarter. Information on other oil and gas companies' financial results in the 3rd qtr of 1999 is also provided.

Exxon Corp. reported on July 21, 1999, that its second quarter 1999 earnings were down by 25%, and the company blamed poor earnings on low downstream margins in Europe/Asia and lower worldwide oil and gas production. Exxon's earnings were down $1.2 billion on flat revenues of $29.4 billion. Exxon's low 9% return on capital in 2Q 1999 was far below its goal of 15%. Europe and Asia cut non-U.S.downstream operating net by 90% to $34 million. Exxon's European refinery throughput fell 8% from 2Q 1998 to 1.4 million b/d.

Exxon's net operating income for 1st qtr 1999 reached $1.14 billion, a decrease of 40%. As a result, share prices decreased as much as 4%. Lower oil and gas prices are blamed for the decrease in income. Revenues for the company also decreased to $26.8 billion, a decrease of 10%.

Weak downstream conditions and low oil prices contributed to what appears to be poor 1Q earnings for major petroleum producers and refiners. Integrated oil companies are expected to show a 40% decline in profits from 1998 earnings levels. Exxon Corp. is expected to earn $275 million in 1Q 1999, down from $369 million in 4Q 1999. BP Amoco's 1Q 1999 operating income will be about $1.158 billion versus $1.979 billion in 1Q 1998. United States refining margins are about 28% below 1998 levels, though California's refining margins have remained strong, averaging $17.35/bbl the week of March 29, 1999.

Exxon Corp's 1998 fourth quarter results included revenue from exploration and production which was down 50% from 1997's fourth period. The firm's overall net for the fourth quarter 1998 was down 39%, with earnings for the full year down 25% to $6.4 billion. Strong downstream earnings helped cushion the drop for Exxon.

Strong refining margins increased the 3rd qtr 1997 earnings of Exxon, Texaco and Amoco into double digits. Exxon's earnings increased by 17% to reach $1.82 billion for 3rd qtr 1997. Texaco's earnings increased by 13% to reach $490 million for 3rd qtr 1997. Amoco's earnings increased by 18% to reach $635 million for 3rd qtr 1997. Upstream profits for the companies decreased and, as a result, stock prices did not change very much.

Triton Energy's stock has lost a third of its value recently, but its CEO Thomas Finck seems undisturbed and foresees growth for the company. A new oilfield in Thailand is producing encouraging early results. Triton's 12.5% stake in a Colombia field may reach 10-mil bbl in 1997 and more in 1998. Four other companies are reported on, including Halliburton Co.

Exxon Corp reported an increase of 31% in its operating income from 1995, giving the company 4th qtr, 1996 earnings of $2.085 billion and FY 1996 earnings of $6.975 billion, a jump from the previous year's $6.38 billion. Shell Oil Co's operating earnings for the same period were $537 million, except for special items, which represents an unprecedented 88% increase for the company. Valero Energy Corp reported a 22% gain for the period, bringing earnings to $72.7 million, and Enron Corp's income showed no little change from 1995 at $132 million, although its entire 1996 earnings were up approximately 12%.

Texaco well surpassed earnings expectations for third quarter 1996; Exxon, Chevron, Amoco and Mobil were in line with analysts' expectations for the period. Texaco reported income of $434 mil, excluding special items, in third quarter 1996 compared to $288 mil in third quarter 1995. Increased commodity prices and international gas and liquids gains boosted Chevron's total explorations and production operating income in third quarter 1996.

First quarter 1996 earnings for the major oil companies exceeded the expectations of industry analysts. Stellar results by the exploration and production sectors were balanced by underperforming chemical and refining & marketing sectors. Individual results include Exxon Corp. with a 14% jump in net income over first quarter 1995 and Mobil Corp. with a 16% increase in net income over first quarter 1995.

Exxon Corp reported record earnings in the second quarter of 1995. Earnings were $1.6 billion for the quarter, up 84% from the same period in 1994. Revenue was $31.667 billion, and capital and exploration expenses were $2.019 billion. The chemical sector was very profitable in the quarter, with earnings of $190 million, three times the figure for 1994. Net income was $1.30 per share, up from 70 cents in 1994. Analysts credit the company's cost reduction efforts, which have reduced operating costs by $1 billion per year through the 1990s.

The petroleum industry experienced a good financial first quarter in 1995 with Exxon Corp. proving to be the industry's top performer. Exxon showed a 1995 net of 1.66 bil vs 1.16 bil in 1994, attributed in part to its performance in chemicals which was $230 mil in 1995 vs $92 mil in 1994 for the US, and $317 mil in 1995 vs $57 mil in 1994 for overseas. Financial results are given for Texaco, Amoco, Mobil, Atlantic Richfield, Amerada Hess Corp., Ashland Inc., Conoco Inc., Marathon, and Tosco.

The State Oil Company of the Azerbaijan Republic (SOCAR) will sell a 10% interest in a development project for the Caspian Sea to Exxon Corp and Turkish Petroleum Corp. SOCAR originally was originally a 30% equity partner in the international project, but financial troubles have forced the company to sell portions of its original share. Iran's participation in the project, which originally was rejected by the partnership, is again the subject of negotiations.

A number of major domestic petroleum companies posted quarterly earnings reports that exceeded expectations of financial analysts. Profit margins were helped by improved demand in Europe and robust performance in the chemical sector. Companies reporting stronger 3rd qtr, 1994 earnings included Amoco Corp, Exxon, Atlantic Richfield and the Marathon Group of USX Corp. Amerada Hess posted a net loss of $43.1 million which was attributed to unsatisfactory marketing and refining operations.

Several petroleum companies had relatively strong 2nd qtr 1994 earnings, despite the industry trend of lower earnings compared to 2nd qtr 1993. For example, Amoco Corp had 2nd qtr profits of $142 million and Exxon Corp had 2nd qtr profits of $190 million, compared to $43 million and $86 million, respectively, in 2nd qtr 1993. Strong earnings from chemical production were major factors in the companies profits. The 2nd qtr 1994 earnings of Amerada Hess Corp, Unocal Corp, Mobil Corp, and Texaco Inc are also discussed.

New York City in January 2010 moved to support a Superfund designation at Newton Creek even as it upheld its previous opposition to a Superfund cleanup at another water body, the Gowanus Canal. The Superfund cleanup of Newton Creek will involve majors Exxon Mobil, BP, Chevron and two other companies, all of whom are involved in a 'work plan' for the creek.

Exxon Corp, Occidental Petroleum Corp and Texaco Inc announced lower earnings for 2nd qtr 1992. Exxon earned $955 million, Occidental earned $75 million and Texaco earned $245 million. When compared to 2nd qtr 1991, Exxon earnings decreased a total of $352 million in refining, marketing and foreign markets, Occidental earnings decreased $37 million, and Texaco earnings decreased $24 million. Other oil companies cited lower refining and marketing margins as a major contributory factor in their poor financial results.

The Papua New Guinea (PNG) liquefied natural gas (LNG), headed by ExxonMobil, in December 2009 received US$14 billion to finance the estimated US$13 billion of debt needed for the project. A major part of the funding was provided by export credit agencies in the U.S., Japan, China, Italy and Australia.

The head of the ExxonMobil Papua New Guinea (PNG) LNG project team, Peter Graham has informed that the consortium has approved spending of nearly $1 billion. The consortium has had more than 500 personnel working on the project since its inception.

ExxonMobil is expected to spend around $300 million for development of biofuels with another $300 million later depending on success of the project. ExxonMobil is working jointly with U.S. biotechnology company Synthetic Genomics Incorporated to develop biofuels from algae that are compatible with gasoline and diesel.

The Korea Export-Import Bank, South Korea's state-owned trade financier, has offered financial support to ExxonMobil's liquefied natural gas project (LNG) in Papua New Guinea (PNG). The proposal is aimed at securing long-term gas supplies for a South Korean company in return for the funding.

The regional governor of Sakhalin said on April 15, 2009, that $1.978 billion is approved for spending in 2009 for the Sakhalin 1 project in Russia. He said that project operator ExxonMobil had asked for a higher budget.

Major oil companies' finances are discussed in relation to their Return On Average Capital Employed (ROACE). ExxonMobil's market value is analyzed, with expected profitability, ROACE, volume-growth targets, output and pooling-of-interest accounting included.

Production data and second quarter financial results for ExxonMobil Corp. are discussed. The Webster natural gas field near Houston, Texas, has produced a significant amount of gas, and that field will be closing.

Issues concerning a share buyback by ExxonMobil and its longtime feud with Royal Dutch/Shell are discussed.

The earnings of major US petroleum companies have exceeded the forecasts of securities analysts as downstream activities contributed to healthy 4th qtr, 1993 results. The prices of refined petroleum products did not decline as rapidly as did the price of crude oil, and the major petroleum companies were able to post earnings that matched or exceeded 4th qtr, 1992 results. Exxon reported earnings of $1.11 per share, up from $1.10 share in the 4th qtr, 1992. Its earnings exceeded the 94 cents per share that securities analysts had forecast for the company. Mobil and Chevron reported earnings of $1.50 per share and $1.68 per share, respectively.

Exxon Corp posted the best 3rd qtr, 1993 results of the major oil producers. For the 3rd qtr, Exxon posted net income of $1.36 billion, up from $1.145 billion in the 3rd qtr, 1992. Arco's 3rd qtr net income declined from $332 million in 1992 to $68 million in 1993, while Amerada Hess Corp reported a loss of $22.4 million versus an $8.7 million profit in the same period of 1992. Unocal Corp's 3rd qtr net income rose from $11 million in 1992 to $70 million in 1993, while Ashland Oil reported net income of $142 million in the 3rd qtr, 1993, versus a $336 million loss in the same period of 1992.

Mobil Corp reported 2nd qtr 1993 financial results that were better than had been forecasted by Wall Street analysts, while Exxon Corp turned in figures that were below expectations. Mobil's operating earnings were $519 million, a strong performance that was attributed to downstream operations and cost-cutting measures. Exxon reported earnings of $499 million and the lower year-on-year figure was attributed to weak European gas prices and reduced foreign exploration and production. Lyondell Petrochemical Co's net loss of $11 million was attributed to low refining margins in the Gulf of Mexico.

Exxon Corp reported little change in its 1st qtr 1993 earnings from 1st qtr 1992 and Ashland Oil Inc reported net income increase for its 2nd qtr 1993 instead of losses. Exxon had a net income of $1.185 billion in 1st qtr 1993, a decrease when compared with $1.295 billion for the 1st qtr 1992. Ashland had a net income of $835,000 in 2nd qtr 1993, compared with a net loss of $13.4 million for the 2nd qtr 1992.