ExxonMobil’s third quarter earnings go up by 57 pct

Oil major ExxonMobil boosted its third quarter earnings by 57 percent as crude and natural gas prices strengthened compared to the same period last year. 

According to its financial report published on Friday, the company’s earnings increased by 57% to $6.2 billion in the third quarter of 2018 compared to $3.97 billion in the same period last year.

ExxonMobil’s revenues rose to $76.6 billion from $61.1 billion in the prior-year quarter.

Oil-equivalent production was 3.8 million barrels per day, down 2 percent from the third quarter of 2017. Excluding entitlement effects and divestments, liquids production increased 6 percent, as growth in North America more than offset decline and higher downtime. Natural gas volumes decreased 4 percent.