ExxonMobil’s profit doubles in Q2

US energy giant and LNG player ExxonMobil said Friday second-quarter profit doubled on higher oil and gas prices.

The Irving, Texas-based company earned $3.4 billion, or 78 cents a share in the second quarter, compared with $1.7 billion, or 41 cents a share, in the year-ago period.

According to Reuters, analysts expected earnings of 84 cents per share.

ExxonMobil’s production dropped 1 percent to 3.9 million barrels of oil equivalent per day in the quarter under review.

“These solid results across our businesses were driven by higher commodity prices and a continued focus on operations and business fundamentals,” said Darren Woods, chief executive of ExxonMobil.

“Our job is to grow long-term value by investing in our integrated portfolio of opportunities that succeed regardless of market conditions,” he added.

 

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