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News // Companies

ExxonMobil earnings increase 57 % to $6.2 billion in Q3 of 2018

02 November 2018 , 18:00Neftegaz.RU464

 

Texas, November 2 - Neftegaz.RU. Oil major ExxonMobil boosted its third quarter earnings by 57 % as crude and natural gas prices strengthened compared to the same period last year.  

 

According to its financial report, the company’s earnings increased by 57% to $6.2 billion in the Q3 of 2018 compared to $3.97 billion in the same period last year. ExxonMobil’s revenues rose to $76.6 billion from $61.1 billion in the prior-year quarter.

 

 Oil-equivalent production was 3.8 million barrels per day, down 2 % from the Q3 of 2017. Excluding entitlement effects and divestments, liquids production increased 6 %, as growth in North America more than offset decline and higher downtime. Natural gas volumes decreased 4 %. 

 

The largest part of Exxon Mobil's profit came from international oil and gas sales, boosted by rising crude prices. Its U.S. production also turned profitable, swinging to a $606 million gain  from a $238 million loss last year..

  

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