Energy prices boost Exxon Mobil's profit

Exxon Mobil Corp., the world's largest oil company, on Thursday said fourth-quarter profit rose on high energy prices.

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The Irving, Texas, company reported net income of $6.65 billion, or $1.01 a share, compared with $4.09 billion, or 60 cents in the year-earlier period.

Operating earnings rose to $4.42 billion, or 68 cents a share, up from $3.79 billion, or 56 cents, a year earlier excluding merger-related expenses and discontinued Chilean copper mining operations.

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Quarterly revenue rose to $66.0 billion from $56.2 billion, driven by seasonal increases in oil and gas sales and sharply higher commodity prices. Still oil and gas production fell to 4.41 million barrels per day from about 4.44 million a year earlier.

Shares of Exxon Mobil closed Wednesday trade at $40.81 on the New York Stock Exchange. Last year the shares rose 17 percent, lagging a 23 percent increase in the Standard & Poor's Integrated Oil and Gas Index.