Arab Today, arab today exxonmobil profits up despite lower oil and gas output
Last Updated : GMT 02:26:33
Arab Today, arab today
Arab Today, arab today

ExxonMobil profits up despite lower oil and gas output

Arab Today, arab today

Arab Today, arab today ExxonMobil profits up despite lower oil and gas output

ExxonMobil claims
New York - AFP

US oil giant ExxonMobil Thursday reported higher second-quarter profits despite pumping less oil and gas than it did a year ago.
Exxon, the biggest US oil company and the second-largest US company in terms of market capitalization after Apple, said earnings came in at $8.8 billion, up 28 percent from the year-ago level.
Production of oil and gas declined 5.7 percent, but profitability in the exploration and production segment rose 25 percent to $7.9 billion. Exxon said "higher realizations" for its output added $580 million.
Lower oil and gas volumes is often seen as a red flag in the oil business. But Exxon has emphasized that it will not sacrifice profitability for higher output, meaning it will not produce oilfields unless they are highly profitable.
Exxon's downstream earnings rose nearly 80 percent to $711 million, while chemicals earnings rose 11.2 percent to $841 million.
"ExxonMobil’s financial results were achieved through strong operational performance and portfolio management," said chief executive Rex Tillerson.
"We continue to enhance shareholder value by funding capital projects and delivering robust shareholder returns through dividends and share purchases."
Results translated into earnings per share of $2.05, 19 cents above analyst forecasts.
Revenues rose 4.7 percent to $111.65 billion, above the $108.38 billion analyst forecast.
Shares of the Dow component fell 1.4 percent to $101.85 in pre-market trade.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today exxonmobil profits up despite lower oil and gas output Arab Today, arab today exxonmobil profits up despite lower oil and gas output

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today exxonmobil profits up despite lower oil and gas output Arab Today, arab today exxonmobil profits up despite lower oil and gas output

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday