Exxon reported net income of Dollars 6.65bn - up 60% - with the help of a Dollars 2.23bn bonus from the Internal Revenue Service in the settlement of a long-running tax dispute.
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ExxonMobil Profits Soar
A welcome sign after harsh settlement...
ExxonMobil, the world's biggest stock-listed oil group, yesterday wiped away some of the pessimism surrounding its business by announcing $17 billion in annual profits - the biggest in corporate history.
The Texan oil firm, under fire from environmentalists and the courts, took full advantage of booming crude prices but also benefited from a large tax gain, plus a rebound in chemical earnings.
Exxon reported net income of Dollars 6.65bn - up 60% - with the help of a Dollars 2.23bn bonus from the Internal Revenue Service in the settlement of a long-running tax dispute.
This is welcome news after the company was recently hit by a $6.75 billion clean-up bill from an Anchorage court over its Valdez tanker spill in Alaska.
Exxon reported net income of Dollars 6.65bn - up 60% - with the help of a Dollars 2.23bn bonus from the Internal Revenue Service in the settlement of a long-running tax dispute.
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