NEW YORK (AP) — Exxon Mobil reported profits of $2.73 billion in the first quarter, after a tumultuous year led to major spending reductions. The oil giant brought in $59.15 billion in revenue, up 5% from $56.16 billion during the same quarter last year. It exceeded analyst projections for the quarter. The oil and gas industry has been struggling with …
NEW YORK (AP) — Profits fell at Exxon Mobil and Chevron warned of tough times ahead as the global pandemic began to erode oil demand. Exxon lost $610 million in the first quarter, down 126% from the same time last year, the Irving, Texas oil giant said Friday. Revenue was $56.16 billion, down 12% from the same quarter in 2019. …
NEW YORK (AP) — Exxon Mobil said Thursday it plans to reduce the number of oil rigs operating in an oil-rich region in the Southwest and may cut planned capital expenditures as the spreading coronavirus saps energy demand. The price of a barrel of oil has fallen more than 25% since the start of the year, and 8% in the …
NEW YORK (AP) — Exxon Mobil’s profits fell dramatically in the third quarter as the company was hurt by lower prices for crude oil and natural gas. The Texas oil giant reported $3.17 billion in profits in the third quarter Friday, down 49% from the same time last year. Total revenue was $65.05 billion, down 15% from the same time …
NEW YORK (AP) — Exxon Mobil brought in $69 billion in revenue in the second quarter, down from last year’s $73.5 billion. Some of the benefits of rising crude prices, up 22% this year, were offset by natural gas prices, which have fallen almost 24% over the same time frame. The nation’s largest oil company said Friday that its profit …
HOUSTON (AP) — Exxon Mobil says it plans to spend $2 billion to expand a chemicals plant next to the Houston Ship Channel and that the project will create 2,000 temporary construction jobs. The company said Thursday it will build a new unit at the Baytown plant to make chemical compounds that give plastics more elasticity and flexibility, and produce …
Exxon, Qatar Petroleum to expand LNG export plant in Texas DALLAS (AP) — Exxon Mobil is making a big bet on the future of exporting natural gas. Exxon and Qatar Petroleum announced Tuesday that they will go ahead with a $10 billion project to export liquefied natural gas from a plant on the Texas Gulf Coast. The companies said construction …
DALLAS (AP) — Exxon Mobil increased revenue during a volatile fourth quarter for world oil markets, but profit fell 28 percent from a year earlier, when Exxon booked a huge gain from lower corporate tax rates. The earnings topped Wall Street expectations, however, and capped Exxon’s most profitable year since 2014. The shares rose $2.64, or 3.6 percent, to close …
New York says Exxon misled investors about climate risks By CATHY BUSSEWITZ, AP Business Writer NEW YORK (AP) — New York’s attorney general on Wednesday sued Exxon Mobil, saying the Texas energy giant has misled investors about the risks that climate change poses to its operations. The lawsuit filed by Attorney General Barbara Underwood is the latest in a series …
