The gains in oil and natural gas prices were offset by Exxon's shrinking refining and chemical margins, lower production volumes and higher operating costs.
In other energy news, Federal Reserve Chairman Alan Greenspan told Congress yesterday that shrinking supplies of U.S. natural gas mean the nation must build more gas import terminals to create a "safety valve" that will help stabilize prices.
But the list of nuclear projects keeps shrinking, down from nearly 40 a few years ago when the economy was pumping and natural gas, which sets the price of electricity, was high.