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| Another record profit for Exxon | Another record profit for Exxon |
| (20 minutes later) | |
| Exxon Mobil made a profit of $14.83bn (£8.97bn) between July and September, smashing its own record for the highest quarterly profit by a US company. | Exxon Mobil made a profit of $14.83bn (£8.97bn) between July and September, smashing its own record for the highest quarterly profit by a US company. |
| In the second quarter this year, when oil prices were still rising, the oil giant made a profit of $11.68bn. | In the second quarter this year, when oil prices were still rising, the oil giant made a profit of $11.68bn. |
| The new record represents a 58% rise on profits compared with the same period last year. | The new record represents a 58% rise on profits compared with the same period last year. |
| Profit for the first nine months of this year was $37.4bn, up 29% on the same period last year. | Profit for the first nine months of this year was $37.4bn, up 29% on the same period last year. |
| The $1.6bn sale of a natural gas transportation business in Germany helped boost profits. | |
| Rex W Tillerson, chief executive of the company, said: "Exxon Mobil's strong results demonstrate the continued success of our disciplined business approach." | |
| Stormy conditions | |
| The profits could have been even higher, had it not been for falling oil prices and extreme weather. | |
| Hurricanes Gustav and Ike affected the company's Gulf Coast operations and resulted in an increase of $50m in pre-tax costs. Exxon estimates that the impact of both hurricanes will reduce fourth-quarter earnings by about $500m. | |
| Massive profits have allowed Exxon to invest heavily in exploration. In the third quarter, capital and exploration project spending increased to $6.9bn, up 26% on the same period last year. | |
| They have also allowed Exxon to distribute significant cash to shareholders - it paid out $2.1bn in dividends over the quarter. |