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Nov 1, 2014
Oct 31, 2014

Exxon, Chevron profits boosted by refining as oil prices fall

Oct 31 (Reuters) – A surge in refining profits boosted
quarterly results for Exxon Mobil Corp and Chevron Corp
, helping to offset lower oil and gas output and slumping
crude oil prices.

Both U.S. energy majors reported better-than-expected
third-quarter profits on Friday, with executives touting the
importance of owning massive refineries alongside oil and gas
wells.

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