For Exxon, Profits Gush Forth

ExxonMobil Corp., the world’s biggest oil and gas firm, reported a 91 percent increase in second-quarter earnings on Thursday.
For Exxon, Profits Gush Forth
ExxonMobil Corp. said it planned to increase drilling for natural gas in various regions in the United States. (Scott Olsen/Getty Images)
7/29/2010
Updated:
10/1/2015
<a><img src="https://www.theepochtimes.com/assets/uploads/2015/09/ExxonMobil.jpg" alt="ExxonMobil Corp. said it planned to increase drilling for natural gas in various regions in the United States. (Scott Olsen/Getty Images)" title="ExxonMobil Corp. said it planned to increase drilling for natural gas in various regions in the United States. (Scott Olsen/Getty Images)" width="320" class="size-medium wp-image-1816836"/></a>
ExxonMobil Corp. said it planned to increase drilling for natural gas in various regions in the United States. (Scott Olsen/Getty Images)

ExxonMobil Corp., the world’s biggest oil and gas firm, reported a 91 percent increase in second-quarter earnings on Thursday, boosted by its refining business and increased demand for natural gas. The company said that its profit margins in refining increased as the economy improved, increasing demand for fuel. Quarterly profit was $7.56 billion, or $1.60 per share. Revenues gained 24 percent from the same period a year ago. The company on Thursday said that it planned to increase drilling for natural gas in various regions in the United States as it completed its acquisition of XTO Energy Inc., one of the largest natural gas producers in the United States.