ConocoPhillips profit beats forecasts
By Deepa Babington Wed Oct 26,11:48 AM ET
NEW YORK (Reuters) - ConocoPhillips (NYSE:COP - news), the No. 3 U.S. oil company, on Wednesday reported quarterly profit surged 89 percent, surpassing Wall Street forecasts, driven by record oil prices and sharply higher refining margins.
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ConocoPhillips, like other major oil companies, has reaped a windfall from soaring crude oil prices -- which touched a record $70 a barrel in the quarter -- and better refining margins, as powerful hurricanes blew through the Gulf of Mexico, severely disrupting energy operations.
The Houston company's net profit in the third quarter rose to $3.8 billion, or $2.68 a share, compared with $2.01 billion, or $1.43 a share, a year earlier.
Oct 27, 6:13 PM (ET)
By STEVE QUINN
(AP) Exxon and Mobil gas stations are seen along Route 302 in Montpelier, Vt., Thursday, Oct. 27, 2005....
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DALLAS (AP) - Exxon Mobil Corp. (XOM) rewrote the corporate record books Thursday as the oil company's third-quarter earnings soared to almost $10 billion and it became the first public company ever with quarterly sales topping $100 billion. Anglo-Dutch competitor Royal Dutch Shell PLC (RDSA) wasn't far behind, posting a profit of $9 billion for the quarter.
By Deepa Babington Wed Oct 26,11:48 AM ET
NEW YORK (Reuters) - ConocoPhillips (NYSE:COP - news), the No. 3 U.S. oil company, on Wednesday reported quarterly profit surged 89 percent, surpassing Wall Street forecasts, driven by record oil prices and sharply higher refining margins.
ADVERTISEMENT
ConocoPhillips, like other major oil companies, has reaped a windfall from soaring crude oil prices -- which touched a record $70 a barrel in the quarter -- and better refining margins, as powerful hurricanes blew through the Gulf of Mexico, severely disrupting energy operations.
The Houston company's net profit in the third quarter rose to $3.8 billion, or $2.68 a share, compared with $2.01 billion, or $1.43 a share, a year earlier.
Oct 27, 6:13 PM (ET)
By STEVE QUINN
(AP) Exxon and Mobil gas stations are seen along Route 302 in Montpelier, Vt., Thursday, Oct. 27, 2005....
Full Image
Google sponsored links
Get Free Exxon Gas - We'll Ship You A $1,000 Gas Card Free. Simply Fill Out Our Survey!
FreeGas.OnlineRewardCenter.c
Gas Station Franchises - Find Out Which Gas Station Franchise is Highly Profitable
franchiseMBA.com
DALLAS (AP) - Exxon Mobil Corp. (XOM) rewrote the corporate record books Thursday as the oil company's third-quarter earnings soared to almost $10 billion and it became the first public company ever with quarterly sales topping $100 billion. Anglo-Dutch competitor Royal Dutch Shell PLC (RDSA) wasn't far behind, posting a profit of $9 billion for the quarter.