2. Exxon Mobil

　　埃克森美孚

　　The oil giant made a big bet on the domestic natural gas market late last year buying Texas-based XTO Energy for $41 billion. But refining and exploration remain its backbone. The company drilled 45 new wells last year and hit pay dirt on nearly two-thirds of them. Other big projects: new ventures in Qatar, the Black Sea, and Kazakhstan, including the giant Kashagan field located offshore in the Caspian Sea. With operations in nearly every corner of the planet, Exxon always seems to get a seat at the table when big projects arise. Maybe size does matter.

　　这家石油巨头去年看好国内天然气市场，于年底以410亿美元收购了德克萨斯州的XTO能源公司。但其主营业务还是提炼和开采。埃克森美孚去年新打了45口钻井，其中近2/3都有斩获。旗下其他大工程有：卡塔尔、黑海和哈萨克斯坦的新项目，包括里海近海的卡沙甘大型油气田。埃克森的业务几乎遍布世界各个角落，似乎在新项目出现时总能占有一席之地。或许公司规模的确重要。

　　3. Chevron

　　雪佛龙

　　With prices for crude oil and natural gas off sharply from their recent highs, revenue at the oil giant tumbled 37%, from $265 billion to $167 billion. The good news: Production of oil and gas jumped 7%, thanks in part to a 57% success rate on its exploratory drilling. But another pitfall looms: Chevron has a heavy exposure to high-acid crude, particularly its deep-water projects in the U.K. If the government forces it to start processing the high-cost oil, Chevron may opt to cede its drilling rights, a move that would result in a sizeable charge against earnings.

　　随着原油与天然气价格在近期高位运行后大幅下跌，这家石油巨头的收入从2650亿美元减少至1670亿美元，降幅高达37%。好消息是：由于勘探钻井成功率达57%，雪佛龙的石油与天然气产量增加了7%。但另一个困难又凸显了出来：雪佛龙开采的大量原油酸性偏高，尤其是在英国开采的深海石油。如果政府要求它开始加工这些高成本石油，雪佛龙或许会放弃开采权，此举将导致收入锐减。