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        20060727   

Michael considered fate at 16:55   |   Permalink   |   Post a Comment
Yo, ho ho, and a barrel of .. oil. Profits at Exxon Mobil surged 36 percent to a near record $10.4 billion in the second quarter:
The company's profit - which amounts to a cool $1,318 a second - is the second biggest ever reported by a U.S. company, behind only the $10.7 billion Exxon itself earned in the fourth quarter of 2005..

..One analyst said Exxon's record fourth-quarter earnings in 2005 included a $400 million tax charge that analysts were not including as part of that quarter's profit.

"Apples to apples, this quarter is the highest by any organization ever," said Fadel Gheit, an energy analyst at Oppenheimer..

..Officials have also argued against a government-forced breakup, saying oil companies need to be big to compete in a global market against foreign state-run firms, some of which are larger than Exxon Mobil.
Also don't forget that I meantioned earlier how Exxon CEO Lee Raymond was paid $686 million over the last 12 years.

Meanwhile, the Russian national oil company Rosneft had it's IPO last week, placing 1.4 billion shares in Moscow and London worth ... a very ironic $10.4 billion - the world's fifth largest IPO.

That's the stolen Russian national oil company Rosneft, if you're keeping tabs:
Yukos was formerly Russia’s largest oil producing company, but Russian authorities seized some of the company’s key assets, including a company called Yuganskneftegaz over a disputed claim for $30 billion in taxes. Some 70 percent of Rosneft’s value comes from former Yukos assets, according to Russian news agencies MosNews and RIA Novosti.


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