• 5 minutes 'No - Deal Brexit' vs 'Operation Fear' Globalist Pushback ... Impact to World Economies and Oil
  • 8 minutes China has *Already* Lost the Trade War. Meantime, the U.S. Might Sanction China’s Largest Oil Company
  • 12 minutes Will Uncle Sam Step Up and Cut Production
  • 4 hours Danish Royal Palace ‘Surprised’ By Trump Canceling Trip
  • 5 hours Recession Jitters Are Rising. Is There Reason To Worry?
  • 1 min A legitimate Request: France Wants Progress In Ukraine Before Russia Returns To G7
  • 5 hours China has invested btw $30 - $40 Billon in Canadian Oil Sands. Trump should put 10% tariffs on all Chinese oil exported into or thru U.S. in which Chinese companies have invested .
  • 31 mins Used Thin Film Solar Panels at 15 Cents per Watt
  • 12 hours US Shale Economic Impact: GDP gain realized in shale boom’s first 10 years
  • 18 hours It's Not the Job of the Government to Dictate Where Businesses Should Go
  • 3 hours IS ANOTHER MIDDLE EAST WAR REQUIRED TO BOLSTER THE OIL PRICE
  • 18 hours Offshore subsea sub 50$/bbl : Rystad Energy: High stakes in store for subsea markets if oil falls to $50/bbl
  • 12 hours Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
  • 15 hours Philadelphia Energy Solutions seeks to permanently shut oil refinery - sources
  • 16 hours Tit For Tat: China Strikes Back In Trade Dispute With U.S. With New Tariffs
  • 11 hours Domino Effect: Rashida Tlaib Rejects Israel's Offer For 'Humanitarian' Visit To West Bank
  • 10 hours NATGAS, LNG, Technology, benefits etc , cleaner global energy fuel
OPEC Turns Bearish On Oil

OPEC Turns Bearish On Oil

In its latest monthly report,…

Why Exxon's 49% Increase in Quarterly Profits Remains Less than Predicted

Despite the fact that ExxonMobil’s second quarter profits have been declared as $15.9 billion, a 49% increase from the year before, its quarterly earnings have been lower than predicted.

This is because most of its profit came from the $7.5 billion sale of its stake in a Japanese refining and chemicals company, amongst other things.

Ignoring the one off asset sales, Exxon earned just $8.4 billion, a value of $1.80 per share, and 22% less than the predicted $1.95 per share.

Oil and gas output actually fell by 5.6 percent to 4.15 million barrels per day, whilst oil prices fell 8.8 percent and natural gas prices dropped a massive 46.2 percent.

Exxon’s chemical business also struggled, earning only $820 million, 33% less than analysts at Raymond James had predicted.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play