Former U.S. Senator Don Nickles, who runs a Washington lobbying firm, revised a federal disclosure report about work for Exxon Mobil Corp. to say his company was enlisted to monitor legislative activity related to Iran, not to lobby.
The Irving oil giant made $4.9 billion, or $1.17 a share, in January-March period, compared to $9.1 billion, or $2.10 a share, in the same period the year before. Quarterly revenues plunged from $106.3 billion to $67.6 billion.
Exxon holds top triple-A credit ratings from Moody’s Investors Service and Standard & Poor’s, making it one of only three U.S. corporations that stand on nearly equal footing with governments in debt markets.
Exxon said it wouldn’t pull too far off the throttle given lower priced oil and gas, and executives said the company was willing to take on debt in order to hold up its dividend and to make the most of any opportunities the company saw amid collapsing crude prices.
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