[R]8:45AM New York – ExxonMobil reported 57% rise in first quarter revenue and 19% increase in earnings.[/R]

Exxon Mobil reported first quarter revenue increased 57% to $116.8 billion from $87.23 billion, earnings rose 19% to $10.9 billion from $9.2 billion and earnings per share increased to $2.05 from $1.64 a year ago.

The oil giant declared a dividend of 35 cents per share compared to 32 cents a year ago. In the quarter the company increased its share repurchase to $8 billion and issued dividend of $1.1 billion in dividends. ExxonMobil spent $5.5 billion on capital and exploration projects, up 30% from a year ago.

During the first quarter of 2008, Exxon Mobil purchased 110 million shares of its common stock for the treasury at a gross cost of $9.5 billion. These purchases included $8.0 billion to reduce the number of shares outstanding, with the balance used to offset shares issued in conjunction with the company''s benefit plans and programs.

On oil equivalent basis production decreased 5.6% and excluding Venezuela divestments the production was down 3%.

Crude oil and natural gas liquids production declined 272 kbd to 2,474 thousands of barrels per day. Natural gas production increased 132 millions of cubic feet per day to 10,246 mcfd. Of the total liquid production in the quarter Africa fields supplied approximately 25% of crude oil, Canada provided 12% and U.S. fields produced 16%.

In the first quarter ExxonMobil refined 5.526 million barrels a day compared to 5.705 million barrels a day in the corresponding period a year ago. The company refined 1.759 million barrels a day in the U.S., 1.57 kbpd in Europe, 1.45 kbpd in Asia Pacific and 0.43 kbpd in Canada.