| Exxon Mobil Corp, the world's largest publicly traded oil company, reported a stronger-than-expected quarterly profit on Thursday as higher prices for its crude and natural gas offset a 6 percent drop in production.
Exxon has struggled in recent quarters to replenish its reserves quickly, investing in massive new projects in Russia and Papua New Guinea that take years to develop. Meanwhile, many of its smaller, more-nimble peers have aggressively developed shale formations around North America, fueling massive production and exciting Wall Street...............................................Full Article: Source
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