Mobil and Shell have reported huge profits for the second quarter of 2010, days after BP announced record losses.
Royal Dutch Shell reported profits of $6.2 billion, almost double what it earned in the same quarter last year, after it completed a year-long corporate restructuring programme.
Cost savings of $4.6 billion beat its target by about 15% and some six months ahead of schedule. As a result of the changes, Shell says, 7000 employees will leave the company 18 months earlier than planned.
US-based Mobil meanwhile reported a profit of $10.5 billion - an 85% rise from last year.
The profits are in sharp contrast to crisis-hit rival BP, which earlier this week reported a record $22 billion second-quarter loss. That included a provision of $42 billion to cover the costs of the oil spill in the Gulf of Mexico.
