General: The companies which are chosen for the assignment are: 1) Exxon Mobil 2) BP plc 3) Chevron Corp. These companies are from oil and gas industry. Exxon Mobil Corporation was incorporated in the State of New Jersey in 1882. Divisions and affiliated companies of ExxonMobil operate or market products in the United States and most other countries of the world. Their principal business is energy, involving exploration for, and production of, crude oil and natural gas, manufacture of petroleum products and transportation and sale of crude oil, natural gas and petroleum products. The Exxon operates across six continents, and its products and services are available in Asia, Africa, Australia, Europe, North America, and South America. The BP starting in 1908 with oil found in a rugged part of Persia after a long and difficult search. Since then, discoveries large and small (and sometimes just in the nick of time) have fuelled its progress. It involves in finding oil and gas, extracting oil and gas, moving oil and gas, making and selling fuel and products. The BP group operates across six continents, and its products and services are available in more than 80 countries like Asia, Africa, Australia, Europe, North America, and South America. Chevron is a global energy company with substantial business activities in the following countries: Angola, Argentina, Australia, Azerbaijan, Bangladesh, Brazil, Cambodia, Canada, Chad, China, Colombia, Democratic Republic of the Congo, Denmark, Indonesia, Kazakhstan, Myanmar, the Netherlands, Nigeria, Norway, the Partitioned Zone between Saudi Arabia and Kuwait, the Philippines, Republic of the Congo, Singapore, South Africa, South Korea, Thailand, Trinidad and Tobago, the United Kingdom, the United States, Venezuela and Vietnam. Auditor: Exxon Mobil: Auditor: Price Water Cooper Opinion: In our opinion, the accompanying Consolidated Balance Sheets and the related Consolidated Statements of Income, Comprehensive Income, Changes in Equity and Cash Flows present fairly, in all material respects, the financial position of Exxon Mobil Corporation and its subsidiaries at December 31, 2010, and 2009, and the results of their operations and their cash flows for each of the three years in the period ended December 31, 2010, in conformity with accounting principles generally accepted in the United States of America. Also in our opinion, the Corporation maintained, in all material respects, effective internal control over financial reporting as of December 31, 2010, based on criteria established in Internal Control â€“ Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). BP Corporation: Auditor: Ernst & Young LLP Opinion: In our opinion the consolidated financial statements: give a true and fair view of the state of the groupâ€™s affairs as at 31 December 2010 and of its loss for the year then ended, have been properly prepared in accordance with IFRS as adopted by the European Union; and have been prepared in accordance with the requirements of the Companies Act 2006 and Article 4 of the IAS Regulation. We have reported separately on the consolidated financial statements of BP p.l.c. for the year ended 31 December 2010. That report includes an emphasis of matter on the significant uncertainty over provisions and contingencies related to the Gulf of Mexico oil spill. Chevron Corporation: Auditor: Price Water Cooper Opinion: In our opinion, the accompanying consolidated balance sheet and the related consolidated statements of income, comprehensive income, equity and of cash flows present fairly, in all material respects, the financial position of Chevron Corporation and its subsidiaries at December 31, 2010 and December 31, 2009 and the results of their operations and their cash flows for each of the three years in the period ended December 31, 2010, in conformity with accounting principles generally accepted in the Un
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