Exxon Mobil sees profits jump 28%

Exxon Mobil, the US's largest oil and gas company, has reported a sharp rise in profits as it cut capital and exploration spending.

Sinopec Beats PetroChina as Refining Profit Boosts Net

China Petroleum & Chemical Corp. (386), Asia’s biggest refiner, posted a 24 percent increase in first-half net income after its refining business returned to profit, outperforming PetroChina Co.