Exxon Mobil of USA said that its third quarter earnings were $6,713 million, up $740 million from the third quarter of 2012. Higher liquids and natural gas realizations increased earnings by $440 million. Production volume and mix effects increased earnings by $20 million.
Third quarter highlights:
ExxonMobil’s chairman Rex W. Tillerson commented:
“ExxonMobil’s third quarter results reflect our continued progress across a diverse set of profitable growth opportunities, which positions us well to deliver shareholder value. We maintain a long-term perspective on our business with a relentless focus on operational excellence and disciplined investing.
“Third quarter earnings were $7.9 billion, down 18% from the third quarter of 2012. Production of oil and natural gas increased from a year earlier as new projects were brought on line and maintenance-related downtime decreased. Significantly weaker refining margins as a result of increased industry capacity negatively impacted ExxonMobil’s Downstream earnings.
“Capital and exploration expenditures were $10.5 billion in the third quarter and $32.6 billion for the first nine months of 2013, in line with anticipated spending plans.
“The Corporation distributed $5.8 billion to shareholders in the third quarter through dividends and share purchases to reduce shares outstanding.”
[mappress] LNG World News Staff, October 31, 2013; Image: ExxonMobil