 |
Louisiana Light • 4 days | 73.53 | -2.49 | -3.28% | ||
|
Bonny Light • 3 days | 76.08 | +0.77 | +1.02% | ||
|
Opec Basket • 4 days | 76.94 | -0.55 | -0.71% | ||
|
Mars US • 2 days | 71.47 | +0.84 | +1.19% | ||
|
Gasoline • 11 mins | 2.685 | -0.018 | -0.67% |
|
Bonny Light • 3 days | 76.08 | +0.77 | +1.02% | ||
|
Girassol • 3 days | 78.05 | +0.70 | +0.90% | ||
|
Opec Basket • 4 days | 76.94 | -0.55 | -0.71% |
|
Peace Sour • 20 mins | 66.92 | +0.84 | +1.27% | ||
|
Light Sour Blend • 20 mins | 68.22 | +0.84 | +1.25% | ||
|
Syncrude Sweet Premium • 20 mins | 77.17 | +0.84 | +1.10% | ||
|
Central Alberta • 20 mins | 66.52 | +0.84 | +1.28% |
|
Eagle Ford • 4 days | 68.31 | -2.51 | -3.54% | ||
|
Oklahoma Sweet • 4 days | 68.50 | -2.50 | -3.52% | ||
|
Kansas Common • 4 days | 62.00 | -1.25 | -1.98% | ||
|
Buena Vista • 6 days | 76.15 | -1.09 | -1.41% |
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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
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