Benefiting from higher oil and gasoline prices, ExxonMobil, the largest oil company in the U.S., and Shell Thursday reported significant increases in second-quarter profits.

Earlier this week BP and ConocoPhillips reported strong but lower earnings over the comparable quarter last year. 

For ExxonMobil, the second quarter 2011 was the largest for the company since it set a corporate quarterly earnings record in 2008, The New York Times noted, when crude oil prices reached $150 a barrel before collapsing as the world economy slowed. 

ExxonMobil earned $10.7 billion for the quarter, up from $7.56 billion the year before. Shell earned $8.7 billion, up from $4.4 billion a year ago.

ConocoPhillips Wednesday reported a second quarter profit of $3.4 billion, or $2.41 a share, down from $4.16 billion, or $2.77 a share, last year.

BP on Tuesday reported lower than expected earnings for the second quarter as it continues to rebound from the Gulf of Mexico oil spill. BP earned $5.6 billion for the second quarter, compared with a loss of $17.2 billion in the comparable quarter of 2010.

To post a comment, please log into your IND account. If you do not have an account, click the "register" button to create one. Facebook comments can be used as an alternative to creating an account at theIND.com.

Loading
Chart
ABiz Stock Watch
o Home Bancorp 22.75 ▼0.10 (-0.44%)
o Frank's International 17.07 ▲0.05 (0.29%)
o IberiaBank Corp 68.69 ▲1.29 (1.91%)
o LHC Group 24.66 ▲0.35 (1.42%)
o MidSouth Bancorp 18.89 ▼0.26 (-1.36%)
o Petroquest Energy 4.49 ▲0.13 (2.98%)
o PHI Inc. 42.51 ▼0.48 (-1.12%)
o Superior Energy 24.83 ▼0.15 (-0.60%)
o Stone Energy 23.81 ▼0.43 (-1.77%)
o Facebook Inc. 74.83 ▲0.72 (0.97%)
o Twitter Inc. 41.66 ▼0.14 (-0.33%)
o Gannett 31.24 ▲0.08 (0.26%)
NYSE:HBCP

Home Bancorp

Company ID [NYSE:HBCP] Last trade:22.75 Trade time:1:45PM EDT Value change:▼0.10 (-0.44%)
NYSE:FI

Frank's International

Company ID [NYSE:FI] Last trade:17.07 Trade time:1:46PM EDT Value change:▲0.05 (0.29%)
NYSE:IBKC

IberiaBank Corp

Company ID [NYSE:IBKC] Last trade:68.69 Trade time:1:49PM EDT Value change:▲1.29 (1.91%)
NYSE:LHCG

LHC Group

Company ID [NYSE:LHCG] Last trade:24.66 Trade time:1:47PM EDT Value change:▲0.35 (1.42%)
NYSE:MSL

MidSouth Bancorp

Company ID [NYSE:MSL] Last trade:18.89 Trade time:1:33PM EDT Value change:▼0.26 (-1.36%)
NYSE:PQ

Petroquest Energy

Company ID [NYSE:PQ] Last trade:4.49 Trade time:1:49PM EDT Value change:▲0.13 (2.98%)
NYSE:PHII

PHI Inc.

Company ID [NYSE:PHII] Last trade:42.51 Trade time:1:20PM EDT Value change:▼0.48 (-1.12%)
NYSE:SPN

Superior Energy

Company ID [NYSE:SPN] Last trade:24.83 Trade time:1:50PM EDT Value change:▼0.15 (-0.60%)
NYSE:SGY

Stone Energy

Company ID [NYSE:SGY] Last trade:23.81 Trade time:1:51PM EDT Value change:▼0.43 (-1.77%)
NYSE:FB

Facebook Inc.

Company ID [NYSE:FB] Last trade:74.83 Trade time:1:51PM EDT Value change:▲0.72 (0.97%)
NYSE:TWTR

Twitter Inc.

Company ID [NYSE:TWTR] Last trade:41.66 Trade time:1:51PM EDT Value change:▼0.14 (-0.33%)
NYSE:GCI

Gannett

Company ID [NYSE:GCI] Last trade:31.24 Trade time:1:50PM EDT Value change:▲0.08 (0.26%)
Advertisement

Read the Flipping Paper!

Click Here for the Entire Print Version of
ABiz
 
Advertisement
Advertisement