Exxon hit by spill
NZPA-Reuter New York Exxon, the world’s largest petroleum company, said that the costs of cleaning up the Alaska oil spill caused by the grounding of one of its tankers had led to a substantial drop in the company’s second quarter earnings. The firm said its net earnings for the second quarter were just SUSI6O million (5276.82 M or USl3c a share, compared to SUSI.2 billion ($2.08B) US9Oc a share, in the corresponding three months of last year. If the Alaska clean up were disregarded the net earnings would be SUSI.OIB ($1.758), said the company. Revenues, however, were up — by 9 per cent for the three-month period under review, at 5U523.618 ($40.858).
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Press, 28 July 1989, Page 14
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115Exxon hit by spill Press, 28 July 1989, Page 14
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