The world's 250 top oil companies last year recorded profits totaling 243 billion euros (HK$2.32 trillion), a 35 percent increase on 2004 - and that in spite of hurricanes in the Gulf of Mexico that hit production, according to figures from French brokerage Aurel Leven.

With the new record highs in the price of crude, which topped US$75 (HK$585) a barrel for the first time in New York Friday, these companies are guaranteed an even better harvest this year.

Analysts who in February were predicting an average price over the year of US$55 a barrel subsequently upped their forecasts to above US$60.

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They could raise their sights further if the current surge continues, said Aurel Leven analyst Christian Parisot.

The world's largest oil group, US giant Exxon Mobil, posted a profit in 2005 of US$36 billion on turnover of US$371 billion. That is more than the gross domestic product of Saudi Arabia, the world's top oil producer.

The global No2, Anglo-Dutch company Royal Dutch Shell, broke the all- time profit record for a British firm in 2005, raking in US$22.9 billion.

According to a study by Moody's, the 13 largest oil companies in the world gave around US$100 billion back to their shareholders.

Consumers have been outraged at prices. Still, International Energy Agency executive director Claude Mandil says that oil firms' profits are "big in absolute terms but in proportion with their assets" are "not any bigger than those of other industrial or commercial activities." AGENCE FRANCE-PRESSE