Oil and gas majors bounce back from downturn

07/30/2010 | Yahoo!

The world's biggest energy companies are shrugging off the after-effects of the recession and posting profits. ExxonMobil, Royal Dutch Shell and ConocoPhillips all posted earnings gains this week, with high fuel prices and a booming global market helping to offset losses related to the Gulf of Mexico drilling ban. "Slight delay in the Gulf, but we're proceeding full speed ahead in the rest of the world," said Exxon Vice President David Rosenthal in a conference call with investors.

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