IRVING, Texas, Feb. 1 (UPI) -- U.S. gasoline prices of more than $3 a gallon helped Exxon Mobil post a record $39.5 billion profit Thursday, the largest annual profit ever for a U.S. company.
The world's largest publicly traded oil company said its 2006 profit was 9 percent higher than its 2005 results, reflecting crude oil prices that topped $78 a barrel in the summer.
As oil prices retreated later in the year, so did Exxon's profits, the company said.
Exxon's profit was $10.3 billion in the fourth quarter, down 4.3 percent from its record profit in the fourth quarter of 2005. It was Exxon's first quarterly profit decline in nearly three years.
Exxon distributed $32.6 billion to shareholders through dividends and share purchases in 2006, up 41 percent from 2005.
Separately, Anglo-Dutch energy giant Royal Dutch Shell posted a record full-year profit of $25.55 billion, up 0.5 percent from its $25.31 billion in 2005. Unlike Exxon, its quarterly net profit rose 21 percent in the fourth quarter, it said.
Exxon shares rose 49 cents or 0.66 percent to $74.59 in early afternoon trading on the New York Stock Exchange.
