Exxon Mobil Earnings Up 9 Pct, USA

Exxon Mobil Earnings Up 9 Pct,

Exxon Mobil reported earnings of $44,880 million increased $3,820 million from 2011. Earnings per share increased 15% to $9.70.

FULL YEAR HIGHLIGHTS

  • Earnings were $44,880 million, up 9%.
  • Earnings include $9.9 billion of divestment and restructuring gains, mainly Japan of $6.5 billion.
  • Earnings per share increased 15% to $9.70.
  • Oil-equivalent production was down 6% from 2011. Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, production was down 2%.
  • Cash flow from operations and asset sales was $63.8 billion, including proceeds associated with asset sales of $7.7 billion.
  • The Corporation distributed over $30 billion to shareholders in 2012 through dividends and share purchases to reduce shares outstanding.
  • Capital and exploration expenditures were a record $39.8 billion.
  • The Corporation participated in three major liquids project start-ups in West Africa in 2012 with capacity of 350 thousand gross barrels of oil per day.

Exxon Mobil’s Chairman Rex W. Tillerson commented: “Energy is fundamental to economic growth and improved living standards. ExxonMobil’s strong financial performance enables continued investment in new energy supplies, which creates jobs and supports economic expansion.

“Fourth quarter 2012 earnings were over $9.9 billion, up 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.

“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.

“In 2012, the Corporation distributed over $30 billion to shareholders through dividends and share purchases to reduce shares outstanding.”

LNG World News Staff, February 03, 2013

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