Exxon Mobil profit more than doubles on cost cuts, oil price rise
Published Fri, Apr 28, 2017 · 03:19 PM
[HOUSTON] Exxon Mobil Corp, the world's largest publicly-traded oil producer, said on Friday its quarterly profit more than doubled due to rising crude prices and cost cuts.
The company posted net income of US$4.01 billion, or 95 cents per share, compared to US$1.81 billion, or 43 cents per share, in the year-ago quarter.
Production fell 4 percent to 4.2 million barrels of oil equivalent per day.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama
ExxonMobil to take 18 to 24 months to hit full stride with Pioneer purchase
Oil settles down on US jobs data, steepest weekly loss in three months
Glencore Group nears deal for Shell’s Singapore oil refinery
Opec+ may need to tackle oil capacity conundrum next month
Gold flat ahead of US payrolls data, set for second weekly drop