
In transactions involving both Shell and BP, Mr. Putin met directly with corporate executives. For a time, Kremlinologists thought that he might segue into the chairman’s job at Gazprom; executives say Mr. Putin, a former spy, shows a keen interest in the oil and gas business.
Exxon Mobil Corp.’s $10.89 billion first-quarter profit report Thursday ranks as one of the biggest hauls in U.S. corporate history. But the results disappointed Wall Street and added to concerns about the future of the industry.