Exxon leads latest pack of oil earnings reports

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.