Home pagePress CenterIn the Media Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by the Wall Street Journal, "Exxon's $10.89 Billion Net Disappoints Investors, Fuels Gathering Political Storm."
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Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by the Wall Street Journal, "Exxon's $10.89 Billion Net Disappoints Investors, Fuels Gathering Political Storm."
Exxon Mobil Corp.'s $10.89 billion first-quarter profit report Thursday ranks as one of the biggest hauls in U.S. corporate history. But the results disappointed Wall Street and added to concerns about the future of the industry.
Exxon, the world's biggest non-government controlled oil company by market capitalization, notched a 17.3% increase in profit over the year-earlier period largely from the surge in oil prices, which set new records earlier this year. Yet the earnings discouraged investors, who at one point sent Exxon shares down as much as 5.1% in intraday composite trading on the New York Stock Exchange, the stock's ... Read the article
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