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Financial Highlights - ExxonMobil Corporation 4Q Highlights

Source: www.gulfoilandgas.com 2/1/2007, Location: North America

· Earnings excluding special items were $9,840 million, a decrease of 5% or $480 million from the fourth quarter of 2005.

· Net income of $10,250 million was down 4% and includes a special tax-related benefit of $410 million. Fourth quarter 2005 net income included a special litigation gain of $390 million.

· Spending on capital and exploration projects was $5.1 billion, a decrease of 5% versus 2005.

· Excluding entitlement and divestment impacts, liquids production increased by 6%.

· Cash flow from operations and asset sales was approximately $9.6 billion, including asset sales of $0.8 billion and $2.4 billion in contributions to the U.S. pension plan.

· Earnings per share excluding special items were $1.69, an increase of 2%, reflecting strong earnings and the continuing reduction in the number of shares outstanding.

· Production commenced from the Dalia field in Angola. Dalia is estimated to contain nearly 1 billion barrels (gross) of recoverable reserves and is expected to reach peak production of about 225 kbd (gross) in the first quarter of 2007.

· Early production of LNG began at Train 5 in the RasGas Joint Venture in Qatar. Initial operations started up only 29 months after the contract award. Completion of the offshore facilities that will supply natural gas to Train 5 on a long-term basis is anticipated by the end of the first quarter 2007. Train 5 is designed to produce 4.7 million tons per year of LNG for anticipated delivery to markets in Asia and Europe.



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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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