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ExxonMobil earnings plunge 47.5% to US$4.2b

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ExxonMobil reported a big drop in third-quarter earnings Friday as lower oil and gas prices weighed on its exploration and production business.

[NEW YORK] ExxonMobil reported a big drop in third-quarter earnings Friday as lower oil and gas prices weighed on its exploration and production business.

Earnings fell 47.5 per cent to US$4.2 billion, with profits from the upstream division that finds and produces oil sinking to just US$1.4 billion from US$5.1 billion in the year-ago period.

AFP

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