ExxonMobil Q2 earnings rise 28 pct

ExxonMobil released its second quarter results showing earning increase of 28 percent compared to Q2 2013.

ExxonMobil Chairman Rex W. Tillerson said, “ExxonMobil’s financial results were achieved through strong operational performance and portfolio management. We continue to enhance shareholder value by funding capital projects and delivering robust shareholder returns through dividends and share purchases.”

“Upstream production for the year remains in line with plans and we continue to add volumes from our high-quality development portfolio through assets such as the Papua New Guinea LNG project, which started up ahead of schedule during the quarter,” continued Tillerson.

He also reported that second quarter 2014 earnings were $8.8 billion, up 28 percent from the second quarter of 2013, reflecting strong operations and asset divestments.

Capital and exploration expenditures for the first half of 2014 were $18.2 billion, down 17 percent from the first half of 2013.

“Through the first half of 2014, the Corporation distributed $11.7 billion to shareholders through dividends and share purchases to reduce shares outstanding,” added Tillerson.

Press Release, August 1, 2014