Oil profits roll in on market fears

ExxonMobil announced Q4 net profits of $8.42bn, resulting in a final year profits of over $25 bn.

The Q4 earnings show an increase from Q3 of $5.68bn, and were especially inflated by rising oil prices.

Although general market expectations were surpassed, the company warned that rising materials prices and exploration costs meant that the company would be faced with increased cost pressures over 2005.

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