New York 24 (DPA-NT) - U.S. oil companies had solid operational results in 1995, due to higher crude oil prices, continued cost cutting and very strong chemical earnings, according to American petroleum giants said this week. "Worldwide crude oil prices during 1995 were on average about 1.25 dollars per barrel above the prior year," according to Exxon Corporation. U.S. natural gas prices only increased in the fourth quarter of 1995. Refining margins decreased worldwide. Cost-cutting and restructuring efforts continued and led to large charges at some companies. Mobil earned 2.37 billion dollars in 1995, compared with 1.07 billion dollars the year before. Revenues were 74.9 billion dollars last year, up 7.5 billion dollars from 1994. "The impact of higher crude oil prices and petrochemical margins was offset by weakness in North American natural gas prices and worldwide refining margins," said Lucio A. Noto, Mobil's chairman and chief executive officer. Exxon had a record net income of 6.47 billion dollars for 1995, up 27 per cent from 1994. Sales rose by 9.2 billion dollars to 123.1 billion dollars in 1995. "Upstream earnings benefitted from stronger worldwide crude prices, but downstream margins were depressed throughout the year,"Exxon chairman Lee R. Raymond explained. "Chemicals earnings were more than double those achieved in 1994, and earnings from coal, minerals, and power businesses were up signicantly." ct /AA1234/240105 Jan 96 nnnn

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