COMPANY NEWS: Oil and gas firms make earnings, production gains

A number of major oil and gas companies, while amassing even greater size through recent mergers, continue to boast gains in both earnings and production volumes this year. In turn, some of these firms are using funds gained by sustained high energy prices to expand their upstream and downstream portfolios. Meanwhile, one major company earlier last week has decided to split its two units.In the latest reports:ExxonMobil Corp. earlier this month forecast pretax savings from its merger will exceed $7 billion by 2002, compared with the company's initial estimate of merger savings of $2.8 billion by next year. ExxonMobil Chairman and CEO Lee Raymond talked with investors and the media in ...

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