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assignchevexx - Chevron and Exxon 2005 Annual Reports...

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Chevron and Exxon: 2005 Annual Reports Introduction: Any individual who purchases gas at a Chevron, Texaco or CalTex is making an investment in the same company: Chevron. Exxon and Mobil joined together to form ExxonMobil. Chevron and Exxon are two of the largest gas corporations worldwide. Both have experienced significant growth from 2004 to 2005, but the clear leader is Exxon, whose financial resources are twice that of Chevron. The 2005 annual report for both companies offer similar features; primarily to assure their shareholders of their continued success. Both explain the company’s philosophies and history. Both reports offer detailed financial statements explaining the revenue, costs and expenditures required in order to maintain a level of success. They also look to the future and explain the strategies and goals on which they plan to focus. Comparison: Chevron and Exxon both open their annual reports by mentioning the tragedy of Hurricane Katrina and its global impact. Both companies use the terms upstream and downstream. Upstream refers to exploration, development, production, and gas and power marketing. Downstream refers to the refining and marketing of petroleum products such as motor fuels and lubricants. Chevron and Exxon both experienced significant financial growth from the years 2004 to 2005. While Exxon is considerably more profitable than Chevron, both experienced a comparable amount of growth. Chevron’s net income increased by $7.71 million, while Exxon’s increased by just over $10 million. This was mainly due to an increase in sales
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revenue, which for Chevron was nearly $43 million. Exxon’s increase in sales revenue amounted to nearly $68 million. Chevron increased its total assets by approximately $33 million, while Exxon increased its assets by $13 million. In spite of being more profitable, Exxon’s asset growth was only a third of Chevron’s.
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