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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549-1004
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 25, 1999
MOBIL CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 1-7555 13-2850309
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
3225 Gallows Road
Fairfax, Virginia 22037-0001
Telephone: (703) 846-3000
(Address of principal executive offices)
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Item 5. Other Events
The Registrant hereby incorporates by reference herein the information set
forth in its News Release dated October 25, 1999, a copy of which is annexed
hereto as exhibit 99.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(c) Exhibits.
99. Mobil Corporation News Release dated October 25, 1999 reporting
estimated earnings for the third quarter of 1999.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
REGISTRANT MOBIL CORPORATION
By /s/ P. A. Stevenson
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NAME AND TITLE P. A. Stevenson, Senior Assistant Secretary
DATE October 25, 1999
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EXHIBIT INDEX
EXHIBIT SUBMISSION MEDIA
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99. Mobil Corporation, Electronic
News Release dated
October 25, 1999
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CONTACT: Dave Dickson, +1 703-846-2378, Bill Cummings, +1 703-846-3110 or
Lauren Kerr, +1 703-846-1021
Mobil news release
MOBIL CORPORATION
3225 GALLOWS ROAD
FAIRFAX, VIRGINIA 22037-0001
TELEPHONE: (703) 846-2500
MOBIL ANNOUNCES THIRD QUARTER 1999 OPERATING EARNINGS OF $705 MILLION
<TABLE>
<CAPTION>
Third Quarter
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1998 1999 Change
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<S> <C> <C> <C>
Operating Earnings ($millions) 497 705 208
per share ($) 0.62 0.89 0.27
assuming dilution ($) 0.61 0.87 0.26
Net Income ($millions) 509 688 179
per share ($) 0.64 0.87 0.23
assuming dilution ($) 0.63 0.85 0.22
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</TABLE>
. Overall, industry fundamentals and favorable expense performance helped
earnings.
. Crude oil and natural gas prices increased significantly.
. However, downstream margins, particularly in the international area, came
under severe pressure.
. Per barrel operating expenses decreased 6 percent on a year-to-date basis.
. Upstream earnings increased primarily due to improved industry fundamentals.
. Crude prices were up about $8.00 per barrel; natural gas prices also up.
. Expense performance continued to be favorable.
. Exploration expenses were lower.
. Volumes from growth areas were up significantly; however, overall
production was down about 3 percent primarily due to contractual
reductions in Indonesia.
. Downstream earnings decreased as margins lagged the rapid rise in crude
prices.
. U.S. Marketing and Refining experienced a significant amount of
unscheduled refinery downtime which has been rectified.
. However, benefits from initiatives in the international area continued to
grow resulting in favorable expense performance.
. Chemical earnings improved.
. Polyethylene margins strengthened.
. Expenses were lower.
. Performance at the recently upgraded Beaumont olefins plant approached
capacity.
