U.S. oil giant ExxonMobil today reported earnings of $9,950 million for 4th quarter 2012, an increase of $550 million or 6% from the fourth quarter of 2011. Full year 2012 earnings were $44.9 billion, up 9% from 2011, with record earnings per share of $9.70.
As for capital and exploration expenditures ExxonMobil’S Chairman Rex W. Tillerson said: “Capital and exploration expenditures were a record $39.8 billion in 2012 as we continue pursuing opportunities to find and produce new supplies of oil and natural gas to meet global demand for energy.”
Upstream earnings were $7,762 million in the fourth quarter of 2012, down $1,067 million from the fourth quarter of 2011. Lower liquids realizations, partially offset by improved natural gas realizations, decreased earnings by $70 million. Production volume and mix effects reduced earnings by $400 million. All other items, including over $500 million of lower gains from asset sales, decreased earnings by a net $600 million.
For the full year 2012 upstream earnings were $29,895 million, down $4,544 million from 2011. Lower liquids realizations, partly offset by improved natural gas realizations, decreased earnings by about $100 million. Production volume and mix effects decreased earnings by $2.3 billion. All other items, including higher operating expenses, unfavorable tax items, lower gains on asset sales, and unfavorable foreign exchange effects, reduced earnings by $2.1 billion.
[mappress] February 1, 2013