Esso fuel card news: ExxonMobil acts as industry's benchmark
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03 March, 10 ExxonMobil may have to up its game to keep the title of the world's most profitable oil and gas company after BP announced at its London strategy presentation that it plans to close the gap between them. Speaking to Bloomberg, Jason Kenney, head of oil and gas research at ING Commercial Banking in Edinburgh, said BP will "be at least as good as Exxon in terms of return on capital employed over the next five or six years". Last year Exxon's average daily oil and gas production fell to 3.933 million barrels a day. BP's average production was 3.998 barrels a day. Peter Hitchens, an analyst from Panmure Gordon & Co, said that Exxon was the "natural target" for BP now "because Shell has slipped behind". Last year Exxon generated $13 (£8.70) of net profit from each unit of oil and gas, while BP generated $10 per unit, according to the Times. BP's chief executive Tony Hayward plans to cut the company's costs in order to close the gap. Posted by Matt Haskins 
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