Jones Lang LaSalle

January 30, 2006
Exxon Posts Quarterly Profit of $10.71 Billion
By JOHN HOLUSHA

Exxon Mobil Corporation reported today that its earnings in the fourth quarter of 2005 were $10.71 billion, or $1.71 a share, up 27 percent from the $8.42 billion, or $1.30 a share, in the final quarter of the previous year.

The fourth-quarter performance capped a record year for oil companies driven by a surge in crude oil and gas prices. Crude oil prices rose 40 percent last year, driven by surging demand from economically rising countries like China and India and production problems in oil-producing countries like Nigeria and Iraq.

The fourth-quarter earnings drove Exxon Mobil's total profit for the year to $36.13 billion, up 42 percent from 2004.

Total revenues for the quarter reached $99.66 billion from $83.37 in the year-ago period.
Exxon Mobil reported that oil and gas production declined by 1 percent in the fourth quarter. However, the company said that if the lingering effects of Hurricanes Katrina and Rita, which crimped production in the Gulf of Mexico and on the Gulf Coast, and other factors are included, production rose 2 percent.