“ExxonMobil increased its profit in the third quarter by 50%

Irving. 27 Oct. INTERFAX – the Largest public oil and gas company in the USA and worldwide Exxon Mobil Corp. net profit in the third quarter of 2017 at 50% due to the increase in the cost of crude oil and natural gas, and increased margins in the processing sector. Exxon’s profit exceeded market expectations, the company’s shares added 0.8% in the previous auction in new York on Friday.

According to a press release from the company, the net profit in July-September rose to $3.97 billion, or $0,93 a share, compared with $2.65 billion, or $0,63 per share for the same period of the previous year. Exxon’s revenue increased by 12.8% from $58,68 billion to $66,17 billion.

Experts surveyed by Thomson Reuters on average had forecast revenue at $0,86 a share on revenue of $63,39 billion.
Hurricane “Harvey” has lowered quarterly profit of $160 million, or 4 cents per share, the report says Exxon.

Production of hydrocarbons in terms of oil equivalent increased by 2% in annual terms and has not changed compared to the II quarter – 3.9 million barrels per day (b/d). Including oil production decreased by 2.6%, natural gas extraction – 1.6%.

The total capex and the company’s spending on exploration reached $6 billion Profit of Exxon in exploration and production of hydrocarbons (upstream) Exxon in April-June amounted to $1.6 billion, an increase of $947 million compared with the third quarter of 2016.

The company’s profit from refining in the last quarter jumped 25% to $1.5 billion thanks to higher volumes and the refining margins, the profit in the petrochemical segment decreased by 7% to $1.09 billion

ExxonMobil conducts exploration and production in more than 30 countries, including joint ventures in Russia and Kazakhstan, and also owns interests in 37 refineries around the world. After the 2010 purchase of XTO Energy, the company became the largest producer of natural gas in the United States.

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