Wednesday November 09, 2005 
Wednesday November 09, 2005
Top oil industry executives will face a joint hearing of the U.S. Senate energy and commerce committees later on Wednesday to justify why they should not be taxed for their record-breaking profits.
Exxon Mobil Corp.'s Lee Raymond, ConocoPhillips' Jim Mulva, Chevron Corp.'s David O'Reilly, BP America Inc.'s Ross Pillari, and Shell Oil Co.'s President John Hofmeister will testify.
Here are four quick facts on the size and scale of the companies:
PROFITS - For the most recent quarter, the five companies combined posted profits of more than $30 billion.
PRODUCTION - The five produced more than 15 million barrels of oil equivalent per day in the quarter.
REFINING - The companies together were responsible for refined products sales of nearly 24 million barrels per day in the third quarter.
VALUATION - Put together, on a U.S. dollars basis, the group of companies sports a market capitalization of $1.02 trillion.
See also :
1. Senators, oil execs to debate profits
2. Oil chiefs unfazed by Republican grilling
3. Record profits at oil companies
4. ExxonMobil - no alternate energy plans
(2005-11-09 22:46:04 SGT)
[Energy]
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