Exxon, Chevron Profits Surged Ahead of Megadeals

On the heels of competing megadeals, 

Exxon Mobil and Chevron reported a combined $15.6 billion in profits Friday, as oil and fuel prices climbed in the third quarter.

Exxon’s quarterly earnings of $9.1 billion were less than half of last year’s quarterly record but rose 15% from the previous quarter. Margins for making fuel widened and the company’s oil refineries produced more than any third quarter since 1999.