A sign displays prices at an Exxon gas station in Washington.(File Photo) Photo Gallery>>>

    WASHINGTON, March 7 (Xinhua) -- Exxon Mobil Corp., the world's biggest publicly traded oil company by market value, announced Wednesday it plans to start up more than 20 new global projects in the next three years that, at peak, are expected to add 1 million oil-equivalent barrels per day to its base volumes.

    Rex Tillerson, Exxon Mobil's chairman and chief executive, made the announcement during a presentation at the New York Stock Exchange.

    The project inventory at the end of 2006 is expected to develop4 billion oil-equivalent barrels, Tillerson said.

    Tillerson said the Irvin, Texas-based company's financial strength, technological expertise, and superior resource base allow it to meet the challenges of today's increasing demand for energy while delivering industry-leading returns.

    Exxon Mobil "continues to prudently invest more in technology than our competitors," said Tillerson. "In 2006, we spent more than 700 million dollars and have invested more than 3 billion dollars since 2002."

    Tillerson noted that Exxon Mobil led the industry in 2006 with return on capital employed of 32 percent, 50 percent higher than its competitors.

    Last month, Exxon Mobil posted a record annual profit of 39.5 billion dollars, although its net income for the final quarter of 2006 dropped by 4 percent.

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Exxon Mobil posts U.S. record annual profit

    WASHINGTON, Feb. 1 (Xinhua) -- U.S. oil giant Exxon Mobil Corp. posted Thursday a record profit of 39.5 billion dollars in 2006, also the largest annual profit by a U.S. company.

    The profit for 2006, driven by extraordinarily high energy prices in the summer, surpassed the previous record of 36.13 billion dollars which Exxon set in 2005.

    The 2006 revenue at the world's largest publicly traded oil company was a record 377.64 billion dollars.

    JAKARTA, Jan. 12 (Xinhua) -- The Indonesian government has decided to terminate its oil and gas contract with Exxon Mobil Corp. at the Natuna D-Alpha area of the Natuna sea, a newspaper reported Friday.

    The letter terminating the contract with the U.S. oil giant will be issued in May, reported English daily The Jakarta Post, quoting an official with the Ministry of Energy and Mineral resources.

    The decision followed a recommendation letter from the upstream oil and gas regulator.