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April 27th, 2012 
FAKE NEWS for the Zionist agenda A look at this week’s earnings from select oil companies:
— Exxon Mobil Corp. said first-quarter net income declined 11 percent, the first quarterly drop since late 2009. The company produced less oil and natural gas and profits dropped at its chemical plants and U.S. refineries. There was some positive news for investors. Exxon sold oil for higher prices around the world, and international natural gas prices rose by 16 percent. Profit rose for its international refining operations. Exxon also plans to boost its quarterly dividend by 21 percent.
— Chevron Corp.‘s first-quarter profit rose 4 percent. Chevron, the second-largest petroleum company in the U.S. behind Exxon, sold crude and other liquid hydrocarbons for an average of $102 per barrel in the U.S. and $110 per barrel internationally, up 15 and 16 percent, respectively. That boosted revenue even as overall production dropped 4.7 percent in the period.
— Royal Dutch Shell PLC also benefited from higher oil prices as its adjusted profit of $7.3 billion topped estimates. Selling prices on average were $111.5 per barrel in the quarter, against $97.20 per barrel a year ago.
— ConocoPhillips said first-quarter profit dropped 3 percent because it produced less oil and natural gas from a shrinking pool of assets. America’s third-largest oil company has been selling pieces of its global operation. It plans to split into two smaller companies — production and refining — on May 1.
— Occidental Petroleum Corp.’s first-quarter profit rose slightly as a drop in U.S. natural gas prices curbed gains from selling oil. Its chemicals business also struggled with weaker sales and higher raw material costs.
— Total SA’s profit fell 7 percent. The French oil company said revenue grew 11 percent in the first quarter of the year but a drop in European demand for petrochemicals hurt profit. The company has also suffered a couple of natural gas leaks in recent weeks, one in the North Sea and another in Nigeria.
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