Mobil, which is in the process of being acquired by Exxon Corp., reported second quarter operating earnings of $650 million, or 81 cents a diluted share, which essentially matched the $655 million, or 81 cents a diluted share, it earned in the same period last year.

The company had been expected to post more modest earnings of 73 cents a share for the quarter, according to First Call Corp., which tracks Wall Street earnings forecasts.

Mobil shares were down 19 cents in early trade on the New York Stock Exchange at $101.19.

Chairman and Chief executive Lucio Noto said the company's self-help programme contributed about $140 million in benefits, offsetting lower worldwide natural gas prices as well as weaker margins in its refining, marketing and petrochemical businesses.

Stronger crude oil prices alsoplayed a role, pushing exploration and production operating earnings to $382 million, up $147 million from last year's $235 million.