Higher off prices slash Exxon Mo­bil re­fin­ing prof­its

Cape Breton Post - - BUSINESS -

NEW YORK (AP) — Exxon Mo­bil Corp. (NYSE:XOM) on Mon­day said last year’s profit of US$19.3 bil­lion was its small­est since 2002 as higher oil prices squeezed profit mar­gins in its re­fin­ing busi­ness.

The world’s largest pub­licly traded oil com­pany fin­ished the year with fourth-quar­ter earn­ings tum­bling 23 per cent. Exxon earned $6.05 bil­lion for the fi­nal three months of 2009.

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