It's almost expected
now that each quarter Exxon Mobil will produce a new record profit. Last quarter, though, as the largest publicly traded oil company in the world saw its profits decline by 27 percent, that didn't happen. Don't feel too bad for the company, though, as even in a down market, the oil giant still took in $84.7 billion, which was enough to set a new record for profit over the entire year of 2008 at $45.2 billion. Record high fuel prices from the second and third quarters of last year helped carry Exxon Mobil through the year.
Chevron, which is the second largest oil company behind Exxon, managed to earn about $43 billion for the year. Other, smaller oil companies are struggling a bit more than their larger competitors, with even Royal Dutch Shell recording its first quarterly loss in a decade. 2009 is shaping up to continue the trend of lowered profits.
[Source: AP via Google