[M.D. Holloway]

Major Oil Companies Report 3Q Profits; ExxonMobil Reports Second Largest Quarterly Profit Ever Recorded By a Publicly Traded U.S. Company

October 23-27, 2006, The major U.S. integrated oil companies, for the most part, continued to report excellent profits for the third quarter 2006, led by ExxonMobil's $10.49 billion in third quarter 2006 earnings, the second-largest quarterly profit ever recorded by a publicly traded U.S. company.

October 26, 2006, ExxonMobil reported third quarter earnings of $10.49 billion, the second-largest quarterly profit ever recorded by a publicly traded U.S. company. The largest quarterly profit ever was ExxonMobil Corp.'s $10.71 billion profit recorded in the fourth quarter of 2005. The $10.49 billion was an increase of 5.8%, or $0.57 billion, from the $9.92 billion reported in the third quarter of 2005. Total revenues for the third quarter 2006 were $99.49 billion, down slightly from $100.72 billion in the third quarter of 2005.

October 26, 2006, Royal Dutch Shell reported net income for the third quarter 2006 of $5.94 billion, down 34% from the $9.03 billion for the third quarter of 2005, although operating profit rose. Third quarter revenues of $84.3 billion for 2006 increased 10% from the 2005 third quarter revenue.

October 24, 2006, BP reported that third quarter profit of $6.23 billion declined 3.6% from the $6.46 billion during the same period in 2005. Revenue climbed 4 percent to $70.7 billion.

October 27, 2006, Chevron Corp. reported that third quarter 2006 net income increased to a new high of $5.02 billion, a 40% increase from $3.59 billion in the same period a year earlier. Revenue for the period was $54.2 billion, slightly down from $54.5 billion in the year earlier period.

October 25, 2006, ConocoPhillips reported third quarter 2006 profit of $3.88 billion, a 2% increase compared to the year earlier period. Revenue for the third quarter 2006, including sales and equity in joint ventures, rose to $49.9 billion, up from $49.66 billion a year earlier.

October 26, 2006, In addition to the above U.S. based oil companies, Petro-Canada announced third quarter net earnings of $678 million, compared to $614 million in the same quarter of 2005.