ExxonMobil publishes extended profits

ExxonMobil today reported Q4 net profits of $8.42bn, representing an increase from Q3 earnings of $5.68bn, which were especially inflated by rising oil prices.

Despite slowed productivity in 2004, the world’s largest listed oil company still reported full year net profits of $25.3bn for 2004.

Although general market expectations were surpassed, the company warned that rising commodity prices and exploration costs meant that the company would be faced with increased cost pressures over 2005.