The world's biggest oil and gas company ExxonMobil has reported a new record annual profit for a US company of $39.5 billion.
Profit was up 9% from a year earlier, when the energy company's then-record profit sparked a political row over oil industry earnings coming at the expense of consumers.
Although 2006 saw record oil and gas prices, these declined towards the end of the year - denting Exxon's profits for the October to December period by 4.3%.
The Texas-based firm said its net profit for the last three months of last year fell to $10.3bn from $10.7bn for the same period in 2005.
Revenues for the fourth quarter were down 9% from a year earlier at $90 billion, and for all of 2006 sales were up 2% to $377 billion.
Crude prices hit record highs in mid-2006 of more than $78 a barrel, but have declined to the mid $50 range in recent weeks.
Oil industry profits have prompted a backlash from some in US Congress amid calls for a windfall profits tax.
But the industry argues that its profit margins are no larger than other sectors, and that it invests heavily to find more crude and gas.
ExxonMobil said its 2006 capital spending was $19.9 billion, an increase of 12% over 2005.
