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Will Exxon Mobil (XOM) Reap Biofuel Rewards with Pond Scum?
Exxon Mobil Corp. (NYSE: XOM) will dip its toes into the renewable energy pond – with a focus on the scum that resides in it.
The oil giant is looking to spend more than $600 million on the research and development (R&D) of next generation biofuels from photosynthetic algae in an alliance with privately held Synthetic Genomics Inc (SGI), which was founded by genome map pioneer J. Craig Venter.
15Jul2009 | Money Morning | 0 comments | ContinuedExxon Mobil Posts Record $14.8 Billion Profit, Shell Tops Estimates
Exxon Mobil Corp. (XOM) set a U.S. profit record today (Thursday) when it announced its third quarter profit topped $14.8 billion on record-high oil prices.
Exxon Mobil, the largest U.S. oil company, earned $14.8 billion, or $2.86 per share, a 58% increase from the $9.41 billion, or $1.70 per share it earned in the third quarter of 2007. Exxon Mobil’s record-setting profit was enough to beat analyst expectations of $2.38 a share, according FactSet Research data.
Exxon Mobil beat its own record for the largest quarterly profit for a U.S. company, which it had previously set in the second quarter of…
31Oct2008 | Money Morning | Comments Off | Continued
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