Exxon Mobil fourth-quarter profit drops 16 percent

Reuters

Updated 30 January 2014 at 8:16 am

(Reuters) - Exxon Mobil Corp , the world's most valuable publicly traded oil company, said on Thursday its quarterly profit dropped 16 percent as production fell.

For the fourth quarter, the company posted net income of $8.35 billion (5.06 billion pounds), or $1.91 per share, compared with $9.95 billion, or $2.20 per share, in the year-ago period.

Total oil and natural gas production fell 1.8 percent from the year-ago period.

(Reporting by Ernest Scheyder in New York; Editing by Jeffrey Benkoe)

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