Oil majors are expected to break their own annual records on high prices and soaring demand, pushing their combined take to near $200 billion.
Exxon said it incurred a $1.3 billion hit to its fourth-quarter earnings from a European Union windfall tax that began in the final quarter and from asset impairments.Excluding charges, profit for the full year was $59.1 billion. Production was up by about 100,000 barrels of oil and gas per day over a year ago to 3.8 million bpd.Today's results may set up another confrontation with the White House.
Exxon posted $14 billion in fourth-quarter profit excluding charges, 60% more than the same period last year but down almost 25% from the previous quarter as oil prices eased and some operations suffered from cold-weather-related outages.
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