SOURCE: Paragon Financial Limited

Paragon Financial Limited

November 04, 2011 08:16 ET

Libyan Resolution Expected to Drive Growth for Big Oil

The Paragon Report Provides Equity Research on Exxon Mobil & Chevron

NEW YORK, NY--(Marketwire - Nov 4, 2011) - Thus far earnings have been less than spectacular for oil majors as crude prices have dropped and demand has waned. While earnings season was low on surprises, the race to Libya could allow many major oil companies to ramp up production and widen margins in 2012. The Paragon Report examines the outlook for companies in the Oil and Gas sector and provides equity research on Exxon Mobil Corporation (NYSE: XOM) and Chevron Corporation (NYSE: CVX). Access to the full company reports can be found at:

Interest in the Oil and Gas Sector has skyrocketed in the wake of Muammar Gaddafi's demise. With his death came an easing of tensions and fighting in the region, sparking renewed interest in exploring the country's vast oil resources. Approximately 75 percent of the country's potential oil territory is still unexplored. Gaddafi kept tight control over the region and political unrest previously deterred many oil companies from investing in the region. All of that is expected to change and investors would be wise to track which companies are making plays in the region.

The Paragon Report provides investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the oil and gas industry register with us free at and get exclusive access to our numerous stock reports and industry newsletters.

Exxon Mobil's quarterly profit rose 41 percent because the company sold oil and natural gas at higher prices, making up for lower production. The company said prices rose sharply in the third quarter. Its refineries also charged more for gasoline and other fuels that they make from oil.

Exxon Mobil Corp.'s total net income rose to $10.33 billion, or $2.13 per share, in the third quarter. That compared with $7.35 billion, or $1.44 per share, a year earlier.

Chevron, the second-largest U.S. oil company after Exxon Mobil, said that it sold oil and natural gas at sharply higher prices in the third quarter. The price of gasoline, diesel, jet fuel and other fuels also increased from a year ago, boosting profits at its refineries.

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