EXHIBIT 99.1


[r102705991002.jpg]

News Release

Exxon Mobil Corporation

5959 Las Colinas Boulevard

Irving, TX  75039

972 444 1107 Telephone

972 444 1138 Facsimile


FOR IMMEDIATE RELEASE

THURSDAY, OCTOBER 27, 2005





EXXON MOBIL CORPORATION ANNOUNCES ESTIMATED

THIRD QUARTER 2005 RESULTS




 

Third Quarter

  

Nine Months

 
 

2005

2004

%

 

2005

2004

%

Net Income

       

$ Millions

9,920

5,680

75

 

25,420

16,910

50

$ Per Common Share



  



 

Assuming Dilution

1.58

0.88

80

 

4.00

2.59

54

        

Earnings Excluding Special Items

       

$ Millions

8,300

6,230

33

 

23,540

17,460

35

$ Per Common Share



  



 

Assuming Dilution

1.32

0.96

38

 

3.70

2.67

39

        

Capital and Exploration

       

Expenditures - $ Millions

4,414

3,634

  

12,368

10,652

 




IRVING, TX, October 27 -- Exxon Mobil Corporation today reported third quarter results.  Earnings excluding special items were $8,300 million ($1.32 per share), an increase of $2,070 million from the third quarter of 2004.  Third quarter net income also included a special gain of $1,620 million from the restructuring of the Corporation's interest in the Dutch gas transportation business ("Gasunie"). Including this gain, net income of $9,920 million ($1.58 per share) increased by $4,240 million.

EXXONMOBIL'S CHAIRMAN LEE R. RAYMOND COMMENTED:


"Third quarter results include the impacts from hurricanes Katrina and Rita, two of the most significant U.S. natural disasters in recent history.  ExxonMobil's top priority is the safety of employees, contractors, and their families.  Our response has been rapid and innovative, demonstrating the resilience of the global energy marketplace. Following the hurricanes, ExxonMobil maximized gasoline production from all of our refineries which were operating in the U.S., and increased imports from overseas affiliates to meet U.S. demand.  We acted responsibly in pricing at our company operated service stations, and we also encouraged our independent retailers and distributors to do the same.  Third quarter 2005 results were adversely impacted by the hurricanes, with U.S. production volumes down 50 thousand oil-equivalent barrels per day and additional costs of approximately $45 million before tax.  Our earnings in the third quarter reflect the impact of the relatively volatile industry environment on commodity prices and industry margins.  Reduced volumes and higher costs will also impact the fourth quarter.


ExxonMobil continued its active investment program in the third quarter, spending $4.4 billion on capital and exploration projects, bringing the year-to-date spending to $12.4 billion, an increase of $1.7 billion versus 2004.  Our disciplined project management systems remain a competitive advantage, delivering new supplies of crude oil to the global market.


The Corporation distributed a total of $6.8 billion to shareholders in the third quarter through dividends and share purchases to reduce shares outstanding."



THIRD QUARTER HIGHLIGHTS


·

Earnings excluding special items of $8,300 million ($1.32 per share) increased $2,070 million from the third quarter of 2004.


·

Net income of $9,920 million includes a special gain of $1,620 million from the restructuring of the Corporation's interest in the Dutch gas transportation business.


·

Cash flow from operations and asset sales was approximately $16.5 billion, including asset sales of $0.8 billion.


·

Share purchases to reduce shares outstanding of $5.0 billion increased $1.5 billion versus the second quarter of 2005.


·

Earnings per share excluding special items of $1.32 increased 38% reflecting strong earnings and the reduction in the number of shares outstanding.


·

Production from the $3.5 billion (gross) Kizomba B project started during the third quarter, more than five months ahead of schedule.  The project is designed to develop 1 billion barrels of oil (gross) off the coast of Angola.


-2-


Third Quarter 2005 vs. Third Quarter 2004


Upstream earnings excluding the Gasunie special item were $5,729 million, up $1,800 million from the third quarter of 2004 reflecting higher crude oil and natural gas realizations.


On an oil-equivalent basis, production decreased by 4.7% from the third quarter of 2004.  Excluding the impact of hurricanes Katrina and Rita, divestments, and entitlement effects, production decreased 1%.


Liquids production of 2,447 kbd (thousands of barrels per day) was 58 kbd lower.  Higher production from new fields in West Africa was more than offset by the impact of mature field decline, hurricanes Katrina and Rita, maintenance activities, as well as entitlement and divestment impacts.


Third quarter natural gas production decreased to 7,724 mcfd (millions of cubic feet per day) compared with 8,488 mcfd last year.  Higher volumes from projects in Qatar and the U.K. were more than offset by the impact of mature field decline, hurricanes Katrina and Rita, maintenance activities, as well as entitlement and divestment impacts.


Earnings from U.S. Upstream operations were $1,671 million, $498 million higher than last year's third quarter.  Non-U.S. Upstream earnings, excluding the $1,620 million Gasunie special gain, were $4,058 million, up $1,302 million from 2004.


Downstream earnings were $2,128 million, up $727 million from the third quarter 2004, reflecting higher refining margins partly offset by weaker marketing margins.  Petroleum product sales were 8,217 kbd, 25 kbd lower than last year's third quarter.


U.S. Downstream earnings were $1,109 million, up $548 million.  Non-U.S. Downstream earnings of $1,019 million were $179 million higher than last year's third quarter.

-3-


Chemical earnings were $472 million, down $537 million from the same quarter a year ago with reduced margins due to increased feedstock costs.  Prime product sales of 6,955 kt (thousands of metric tons) were down 162 kt from last year's third quarter.


Corporate and financing expenses of $29 million decreased by $80 million mainly due to higher interest income.


During the third quarter of 2005, Exxon Mobil Corporation purchased 91 million shares of its common stock for the treasury at a gross cost of $5,535 million.  These purchases included $5.0 billion to reduce the number of shares outstanding and the balance to offset shares issued in conjunction with the company benefits plans and programs.  Shares outstanding were reduced from 6,305 million at the end of the second quarter to 6,222 million at the end of the third quarter.  Purchases may be made in both the open market and through negotiated transactions, and may be increased, decreased or discontinued at any time without prior notice.


-4-


First Nine Months 2005 vs. First Nine Months 2004


Net income of $25,420 million ($4.00 per share) for the first nine months of 2005 increased $8,510 million from the first nine months of 2004.  Net income for the first nine months 2005 included a $1,620 million special gain related to Gasunie, a $460 million positive impact from the sale of the Corporation's stake in Sinopec, and a special charge of $200 million for the Allapattah lawsuit provision.  Net income for the first nine months of 2004 included a $550 million special charge for the Allapattah lawsuit provision.  Excluding these impacts, earnings for the first nine months of 2005 increased by $6,080 million.



FIRST NINE MONTHS HIGHLIGHTS


·

Earnings excluding special items of $23,540 million increased by 35%, with improvements in all segments of the business.


·

Earnings per share excluding special items increased by 39% reflecting strong earnings and the reduction in the number of shares outstanding.


·

Cash flow from operations and asset sales was approximately $42.3 billion, including $4.6 billion from asset sales.


·

The Corporation distributed a total of $16.4 billion to shareholders in the first nine months through dividends and share purchases to reduce shares outstanding.


·

Capital and exploration expenditures were $12.4 billion, an increase of $1.7 billion versus 2004.



Upstream earnings excluding special items of $15,691 million increased $3,903 million from the first nine months of 2004 due to higher liquids and natural gas realizations partly offset by lower production.


On an oil-equivalent basis, production decreased 4.5% from the first nine months of last year.  Excluding the impact of hurricanes Katrina and Rita, divestments and entitlement effects, production decreased by 2% from the first nine months of last year.

-5-

Liquids production of 2,486 kbd decreased by 87 kbd from 2004.  Higher production from new fields in West Africa and the North Sea was more than offset by mature field decline, the impact of hurricanes Katrina and Rita, as well as entitlement effects and divestment impacts.


Natural gas production of 9,061 mcfd, decreased 614 mcfd from 2004.  Higher volumes from projects in Qatar and the U.K. were more than offset by mature field decline, the impact of hurricanes Katrina and Rita, maintenance activity, and the impact of divestments.


Earnings from U.S. Upstream operations for the first nine months of 2005 were $4,413 million, an increase of $849 million.  Earnings outside the U.S., excluding Gasunie, were $11,278 million, $3,054 million higher than last year.


Downstream earnings, excluding special items, were $5,492 million, an increase of $1,580 million from the first nine months of 2004 reflecting stronger worldwide refining margins partly offset by weak marketing margins.  Petroleum product sales of 8,235 kbd compared with 8,131 kbd in the first nine months of 2004.


U.S. Downstream earnings, excluding Allapattah, were $2,953 million, up $1,093 million.  Non-U.S. Downstream earnings, excluding Sinopec, were $2,539 million, $487 million higher than last year.


Chemical earnings of $2,568 million were up $388 million from the first nine months of 2004 due to improved margins partly offset by lower volumes.  Prime product sales were 20,485 kt, down 354 kt from 2004.


Corporate and financing expenses of $211 million decreased by $209 million mainly due to higher interest income.

-6-


Gross share purchases in the first nine months of 2005 were $12,872 million which reduced shares outstanding by 2.8%.


Estimates of key financial and operating data follow.  Financial data, except per share amounts, are expressed in millions of dollars.


ExxonMobil will discuss financial and operating results and other matters on a webcast at 10 a.m. central time on October 27, 2005.  To listen to the event live or in archive, go to our website at www.exxonmobil.com.



Statements in this release relating to future plans, projections, events, or conditions are forward-looking statements.  Actual results, including production growth and capital spending, could differ materially due to changes in long-term oil or gas prices or other market conditions affecting the oil and gas industry; political events or disturbances; severe weather events; reservoir performance; changes in OPEC quotas; timely completion of development projects; changes in technical or operating conditions; and other factors including those discussed under the heading "Factors Affecting Future Results" on our website and in Item 1 of ExxonMobil's 2004 Form 10-K.  We assume no duty to update these statements as of any future date.


Consistent with previous practice this press release includes both net income and earnings excluding special items.  Earnings that exclude special items are a non-GAAP financial measure and are included to help facilitate comparisons of base business performance across periods.  A reconciliation to net income is shown in Attachment II.  The release also includes cash flow from operations and asset sales.  Because of the regular nature of our asset management and divestment program, we believe it is useful for investors to consider sales proceeds together with cash provided by operating activities when evaluating cash available for investment in the business and financing activities.  Calculation of this cash flow is shown in Attachment II.  Further information on ExxonMobil's frequently used financial and operating measures is contained on pages 28 and 29 in the 2004 Form 10-K and is also available through the Investor Information section of our website at www.exxonmobil.com.

-7-

Attachment I


 

EXXON MOBIL CORPORATION

THIRD QUARTER 2005

(millions of dollars, unless noted)

       
       
 

Third Quarter

 

Nine Months

 
 

2005

2004

 

2005

2004

 

Earnings / Earnings Per Share

      
       

Total revenues and other income

100,717

76,375

 

271,336

214,670

 

Total costs and other deductions

84,665

66,841

 

229,622

186,694

 

Income before income taxes

16,052

9,534

 

41,714

27,976

 

Income taxes

6,132

3,854

 

16,294

11,066

 

Net income (U.S. GAAP)

9,920

5,680

 

25,420

16,910

 
       

Net income per common share (dollars)

1.60

0.88

 

4.04

2.60

 
       

Net income per common share

      

- assuming dilution (dollars)

1.58

0.88

 

4.00

2.59

 
       
       

Other Financial Data

      
       

Dividends on common stock

      

Total

1,822

1,753

 

5,390

5,158

 

Per common share (dollars)

0.29

0.27

 

0.85

0.79

 
       

Millions of common shares outstanding

      

At September 30

   

6,222

6,451

 

Average - assuming dilution

6,303

6,508

 

6,361

6,542

 
       

Shareholders' equity at September 30

   

107,890

95,442

 

Capital employed at September 30

   

117,976

107,638

 
       

Income taxes

6,132

3,854

 

16,294

11,066

 

Excise taxes

8,160

7,045

 

22,913

19,975

 

All other taxes

11,544

10,791

 

33,700

32,186

 

Total taxes

25,836

21,690

 

72,907

63,227

 
       

ExxonMobil's share of income taxes

      

of equity companies

998

246

 

1,760

886

 
       
       
       
       
       
       
       
       
       
       

-8-

Attachment II


 

EXXON MOBIL CORPORATION

THIRD QUARTER 2005

(millions of dollars)

       
       
 

Third Quarter

 

Nine Months

 
 

2005

2004

 

2005

2004

 

Net Income (U.S. GAAP)

      

Upstream

      

United States

1,671

1,173

 

4,413

3,564

 

Non-U.S.

5,678

2,756

 

12,898

8,224

 

Downstream

 

 

  

 

 

United States

1,109

11

 

2,753

1,310

 

Non-U.S.

1,019

840

 

2,849

2,052

 

Chemical

 

 

  

 

 

United States

70

329

 

905

595

 

Non-U.S.

402

680

 

1,813

1,585

 

Corporate and financing

(29)

(109)

 

(211)

(420)

 

Corporate total

9,920

5,680

 

25,420

16,910

 
       

Special Items

      

Upstream

      

Non-U.S.

1,620

0

 

1,620

0

 

Downstream

      

United States

0

(550)

 

(200)

(550)

 

Non-U.S.

0

0

 

310

0

 

Chemical

 

 

  

 

 

Non-U.S.

0

0

 

150

0

 

Corporate total

1,620

(550)

 

1,880

(550)

 
       

Earnings Excluding Special Items

      

Upstream

 

 

  

 

 

United States

1,671

1,173

 

4,413

3,564

 

Non-U.S.

4,058

2,756

 

11,278

8,224

 

Downstream

 

 

  

 

 

United States

1,109

561

 

2,953

1,860

 

Non-U.S.

1,019

840

 

2,539

2,052

 

Chemical

 

 

  

 

 

United States

70

329

 

905

595

 

Non-U.S.

402

680

 

1,663

1,585

 

Corporate and financing

(29)

(109)

 

(211)

(420)

 

Corporate total

8,300

6,230

 

23,540

17,460

 
       
       

Cash flow from operations and asset sales (billions of dollars)

   
       

Net cash provided by operating activities (U.S. GAAP)

15.7

9.4

 

37.7

28.2

 

Sales of subsidiaries, investments and property, plant and equipment

0.8

0.6

 

4.6

2.0

 
       

Cash flow from operations and asset sales

16.5

10.0

 

42.3

30.2

 
       

-9-

Attachment III


 

EXXON MOBIL CORPORATION

THIRD QUARTER 2005

       
       
 

Third Quarter

 

Nine Months

 
 

2005

2004

 

2005

2004

 

Net production of crude oil

      

and natural gas liquids,

      

thousands of barrels daily (kbd)

      

United States

440

522

 

493

565

 

Canada

317

339

 

343

354

 

Europe

512

554

 

547

590

 

Asia Pacific

173

204

 

173

206

 

Africa

688

588

 

623

558

 

Other

317

298

 

307

300

 

Worldwide

2,447

2,505

 

2,486

2,573

 
       

Natural gas production available for sale,

      

millions of cubic feet daily (mcfd)

      

United States

1,614

1,918

 

1,781

1,993

 

Canada

926

954

 

921

979

 

Europe

2,934

3,302

 

4,152

4,360

 

Asia Pacific

1,297

1,516

 

1,314

1,565

 

Other  

953

798

 

893

778

 

Worldwide

7,724

8,488

 

9,061

9,675

 
       

Oil-equivalent production (koebd)*

3,734

3,920

 

3,996

4,185

 
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       

*Gas converted to oil-equivalent at 6 million cubic feet = 1 thousand barrels

  
       


-10-

Attachment IV


 

EXXON MOBIL CORPORATION

THIRD QUARTER 2005

       
       
 

Third Quarter

 

Nine Months

 
 

2005

2004

 

2005

2004

 

Petroleum product sales (kbd)

      

United States

2,903

2,869

 

2,920

2,831

 

Canada

613

619

 

613

606

 

Europe

2,121

2,156

 

2,102

2,130

 

Asia Pacific

1,744

1,695

 

1,770

1,669

 

Other

836

903

 

830

895

 

Worldwide

8,217

8,242

 

8,235

8,131

 
       

Gasolines, naphthas

3,335

3,363

 

3,275

3,274

 

Heating oils, kerosene, diesel

2,460

2,446

 

2,536

2,485

 

Aviation fuels

739

731

 

717

690

 

Heavy fuels

694

655

 

695

650

 

Specialty products

989

1,047

 

1,012

1,032

 

Total

8,217

8,242

 

8,235

8,131

 
       

Refinery throughput (kbd)

      

United States

1,744

1,885

 

1,836

1,840

 

Canada

439

481

 

462

467

 

Europe

1,735

1,663

 

1,657

1,650

 

Asia Pacific

1,530

1,473

 

1,492

1,400

 

Other

316

307

 

300

309

 

Worldwide

5,764

5,809

 

5,747

5,666

 
       

Chemical prime product sales,

      

thousands of metric tons (kt)

      

United States

2,639

2,922

 

8,141

8,650

 

Non-U.S.

4,316

4,195

 

12,344

12,189

 

Worldwide

6,955

7,117

 

20,485

20,839

 
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       

-11-

Attachment V


 

EXXON MOBIL CORPORATION

THIRD QUARTER 2005

(millions of dollars)

       
       
 

Third Quarter

 

Nine Months

 
 

2005

2004

 

2005

2004

 

Capital and Exploration Expenditures

      
       

Upstream

      

United States

628

483

 

1,600

1,402

 

Non-U.S.

2,958

2,394

 

8,476

7,019

 

Total

3,586

2,877

 

10,076

8,421

 

Downstream

      

United States

191

202

 

540

600

 

Non-U.S.

455

398

 

1,207

1,134

 

Total

646

600

 

1,747

1,734

 

Chemical

      

United States

54

68

 

182

183

 

Non-U.S.

108

86

 

303

251

 

Total

162

154

 

485

434

 

 

      

Other

20

3

 

60

63

 
       

Worldwide

4,414

3,634

 

12,368

10,652

 
       
       

Exploration expenses charged to income

      

included above

      

Consolidated affiliates

      

United States

29

66

 

103

151

 

Non-U.S.

215

328

 

517

623

 

Equity companies - ExxonMobil share

      

United States

0

0

 

0

0

 

Non-U.S.

5

7

 

17

11

 

Worldwide

249

401

 

637

785

 
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       

-12-

Attachment VI


 

EXXON MOBIL CORPORATION

NET INCOME

    
    
  

$ Millions

$ Per Common Share

    
 

2001

  
 

First Quarter

5,000

0.72

 

Second Quarter

4,460

0.66

 

Third Quarter

3,180

0.46

 

Fourth Quarter

2,680

0.39

 

Year

15,320

2.23

  



 

2002



 

First Quarter

2,090

0.30

 

Second Quarter

2,640

0.40

 

Third Quarter

2,640

0.39

 

Fourth Quarter

4,090

0.60

 

Year

11,460

1.69

  



 

2003



 

First Quarter

7,040

1.05

 

Second Quarter

4,170

0.63

 

Third Quarter

3,650

0.55

 

Fourth Quarter

6,650

1.01

 

Year

21,510

3.24

  



 

2004



 

First Quarter

5,440

0.83

 

Second Quarter

5,790

0.89

 

Third Quarter

5,680

0.88

 

Fourth Quarter

8,420

1.31

 

Year

25,330

3.91

  



 

2005



 

First Quarter

7,860

1.23

 

Second Quarter

7,640

1.21

 

Third Quarter

9,920

1.60

  



  



  



  



  



  



  



  



  



  



  



  



  



  




-13-