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2014-05-01 18:54:00

EXXON: PROFIT HIGHER

EXXON: PROFIT HIGHER

Exxon Mobil Corp, the world's largest publicly traded oil company, posted a quarterly profit on Thursday that hands down beat Wall Street's expectations as a bitterly cold winter throughout much of the United States boosted natural gas prices.

The past winter, which affected much of the U.S. in January and February, pushed Exxon Mobil's average U.S. natural gas sale price up 49 percent, helping offset a dip in global production.

Prices for natural gas rose globally as well, even as the price the company receives for its crude oil slipped both in the U.S. and internationally.

Exxon Mobil reported first-quarter net income of $9.10 billion, or $2.10 per share, compared with $9.50 billion, or $2.12 per share, in the year-ago quarter.

The results surpassed analysts' expectation for profit of $1.88 per share, according to Thomson Reuters I/B/E/S.

Total production fell about 6 percent to 4.2 million barrels of oil equivalent per day (boed).

Exxon reported weakening margins in both its chemicals and refining units. Part of the dip was due to a cut in production at its 560,500 barrel per day Baytown, Texas refinery after an oil barge spill caused the closure of the Houston Ship Channel in March.

The company made no mention Thursday of Russia's involvement in Ukraine.

Exxon Mobil is building a liquefied natural gas (LNG) plant with Rosneft, Russia's state-controlled oil giant, on Russia's eastern coast. The plant, which Exxon executives have repeatedly said will not be deterred by the Ukrainian political situation, is expected to be online by 2019.

On Wednesday the company raised its quarterly dividend by 10 percent.

Shares of Exxon rose 0.6 percent to $102.98 in premarket trading on Thursday.

reuters.com

Tags: EXXON, GAS

Chronicle:

EXXON: PROFIT HIGHER
2019, January, 14, 11:50:00

IRAQ'S OIL DOUBLED

U.S. EIA - Crude oil production in Iraq averaged 4.5 million barrels per day (b/d) through August 2018, up from 4.4 million b/d in 2017. Iraq’s crude oil production has been steadily increasing since declines in the late 1990s and early 2000s, and it has nearly doubled over the past decade.

EXXON: PROFIT HIGHER
2019, January, 14, 11:45:00

OIL NEED INVESTMENT

PLATTS - Oil prices averaging $70/b in 2018 underscore the need for more investment in new supply, UAE energy minister Suhail al-Mazrouei told delegates at the Atlantic Council's Global Energy Forum in Abu Dhabi on Saturday.

EXXON: PROFIT HIGHER
2019, January, 14, 11:40:00

RUSSIA'S COAL EXPORTS UP 3.4%

PLATTS - Coal exports from Russia in 2018 came to 191 million mt, a rise of 3.4% on the year, according to the latest data from the ministry of energy, making the 2018 volume the highest since S&P Global Platts began collecting data in 2013.

EXXON: PROFIT HIGHER
2019, January, 14, 11:35:00

ФОНД НАЦИОНАЛЬНОГО БЛАГОСОСТОЯНИЯ РОССИИ: $ 58,1 МЛРД.

МИНФИН РОССИИ - По состоянию на 1 января 2019 г. объем ФНБ составил 4 036 047,6 млн. рублей, что эквивалентно 58 097,2 млн. долл. США. Совокупный доход от размещения средств Фонда в разрешенные финансовые активы, за исключением средств на счетах в Банке России, в 2018 г. составил 58 195,6 млн. рублей, что эквивалентно 923,3 млн. долл. США.

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