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ExxonMobil announces big savings from merger, set to bid on Saudi gas work

The merger between Exxon and Mobil is proving more fruitful than anticipated, according to ExxonM...

The slump in oil prices last year saw ExxonMobil announce a profit of $US15.3 billion, which was 14 per cent down on the previous year. Nevertheless, the result did enable the oil giant to retain its mantle as the most profitable company in the US.

Currently, ExxonMobil is looking to bid on $US25 billion worth of projects in Saudi Arabia, which includes a $US17 billion development of gas deposits beneath the southern area of the country's South Ghawar field.

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