Exxon Mobil profit drops 38% but beats estimates


ExxonMobil's move pits it against French giant Total SA, which is backing Oil Search's offer with an agreement to buy part of InterOil's stake in the potentially lucrative Elk-Antelope gas field. (The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York - Reuters filepic)

Shares of Exxon were down 1.9 percent at US$85.30 in afternoon trading.

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