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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.

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.