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Chinese firm surpasses Exxon in oil production


A big shift is happening in Big Oil: An American giant now ranks behind a Chinese upstart. Exxon Mobil is no longer the world's biggest publicly traded producer of oil. For the first time, that distinction belongs to a 13-year-old Chinese company called PetroChina. The Beijing company was created by the Chinese government to secure more oil for that nation's booming economy.


Exxon $45 billion '08 profit is record

Exxon $45 billion '08 profit is record

Hit by falling oil prices, Exxon Mobil reported a 33% drop in quarterly profit Friday, but its annual profit of $45.22 billion set a record for any U.S. company.


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