ExxonMobil’s profit more than doubles in Q1

Darren W. Woods (Image courtesy of ExxonMobil)

US-based energy giant and LNG player ExxonMobil said Friday first-quarter profit more than doubled on higher oil and gas prices and cost cutting.

Net income surged to $4.01 billion, or 95 cents per share, from $1.81 billion, or 43 cents per share, in the year-ago quarter.

Capital and exploration expenditures totaled $4.2 billion compared to $5.3 billion the year before.

The Irving-based company said that its production dropped 4 percent to 4.2 million barrels of oil equivalent per day in the quarter under review.

“Our results reflect an increase in commodity prices and highlight our continued focus on controlling costs and operating efficiently,” said Darren W. Woods, CEO of ExxonMobil.

ExxonMobil raised its quarterly dividend last week by 3 percent.

Share this article

Follow LNG World News

Events>

<< Jan 2019 >>
MTWTFSS
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Downstream 2019

Renowned as the most significant global meeting place for Downstream professionals…

read more >

Gas to Power APAC Congress 2019

The Gas to Power APAC Congress will bring together regional government officials and senior representatives from regulators…

read more >

2nd CWC Japan LNG & Gas Summit

The highly successful CWC Japan LNG & Gas Summit returns for a second year from 19-20 February 2019 in Tokyo, Japan…

read more >

Global LNG Forum 2019

Global LNG Forum is your opportunity to see what the future of LNG will be like…

read more >