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Exxon in biggest ever US profits

US oil giant Exxon Mobil has posted a quarterly profit of $9.9bn (£5.55bn), the largest in US corporate history, on the back of record oil and gas prices.

Profit was up 75% and revenue rose 32% to more than $100bn.

But the results were short of analyst forecasts due to production damage from Hurricanes Rita and Katrina, and lower profit at its chemicals division.


That’s right, folks. All that raising gas prices due to the hurricanes comes down to this. Highest profits EVER… but less than what they hoped for. I feel their pain. Really.

Eh. They’ll run out of the stuff eventually.