NRGreport – Companies – Destroying the wrong series of the world's largest oil company


Exxon Mobil had more revenue and revenue than expected in the third quarter of 2018, but its total oil and gas output fell again. With a better-than-expected report, the world's largest oil company disclosed a negative series, with four outcomes of five quarters that were previously out of sight today.

Suha dejstva

The key lines of the third quarter report of Exxon Mobil are:

→ The company's profits rose 57 percent to $ 6.24 billion; earnings per share was $ 1.46 compared to the expected $ 1.23 and $ 93 cents in the third quarter of 2017.

→ In the quarter, Exxon Mobil earned $ 76.61 billion, exceeding expectations of $ 73.55 billion.

→ Favorable results have prompted higher oil prices and increased production in the US Permini.

→ While world production of Exxon has dropped by 3 percent compared to the previous year, gas production fell by 4 percent compared to the same period of 2017. The production activity of the company declined in the last ten quarters.

→ Despite a decline in total production, profits for research and production have increased by more than twice to $ 4.23 billion. The decline in gas production was offset by an increase in US mining, rising crude oil prices and one-off tax effects – a tax cut of $ 360 million.

→ Profitability of company refineries has improved, but the conversion of maintenance and refineries to the production of low-sulfur fuel has hampered profitability.

→ Monetary capacity increased to $ 11.1 billion, to the highest level in the last four years.

He broke the wrong series of the world's largest oil company

He broke the wrong series of the world's largest oil company

Which is the most interesting thing

Throughout the fall in production, US oil production in the Permis Pool increased by 57 percent compared to the previous July forecast, in order to boost oil production, thus providing higher margins in parallel with lower gas production. Perm's basin is one of the most important areas in Exxon, where it is possible to expand production in this field, as the company is expanding its business with the launch of new projects, said Darren W. Woods, President and CEO of the company. According to the company, its investments continue to favor new production projects and pay dividends for the purchase of stocks.

An interesting part of the report is that although Net sales in the downstream business segment amounted to $ 1.64 billion, the result was negatively affected by the fact that many Exxon executives maintain and upgrade their work and warn that it will also be significant for the next quarters. As part of the work, the company refined its low-sulfur production refineries, which are expected to be thoroughly strengthened by stricter rules on shipping, which will come into force in 2020.

How did the course respond?

In expectations that exceeded expectations, the Exxon Mobil share price was traded on Friday with 3% and closed the day with a 1.6% increase. Although predominantly due to the rise in oil prices, good results have been released in a number of important roles, a further reduction in total production is causing investors' caution.

He broke the wrong series of the world's largest oil company


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