Exxon Mobil Corp. posted its steepest annual profit decline in more than a decade after deeper-than-planned spending cuts failed to offset the impact of crumbling crude and natural gas prices. The stock dropped almost 2 percent.
For 2015, net income fell by more than half to $16.2 billion, the lowest since 2002. Fourth-quarter net income fell to $2.78 billion, or 67 cents a share, from $6.57 billion, or $1.56, a year earlier, the Irving, Texas-based company said in a statement on Tuesday. The per-share result was 4 cents higher than the average profit estimate of 19 analysts in a Bloomberg survey.
Exxon is the only super-major oil company so far to report better-than-expected fourth-quarter results amid the worst energy market downturn in a generation.
Brazil Energy Insight 
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