Exxon Mobil on Friday reported second-quarter profit of $4.19 billion. The results fell short of expectations. Exxon shares have decreased 10 percent since the start of the year.
Lower oil prices pushed Exxon Mobil’s first-quarter profit down 46 percent. The company said Thursday that it earned $4.94 billion — their weakest first quarter since 2009.
Exxon Mobil CEO Rex Tillerson expects the price of oil to remain low over the next two years because of ample global supplies and relatively weak economic growth.
North America will be supplying the world with oil and other liquid hydrocarbons by the end of this decade, according to Exxon Mobil’s annual long-term energy forecast.
Exxon Mobil on Thursday reported a net income that reached $8.78 billion in its second quarter, climbing by 28 percent from $6.86 billion and topping analyst expectations.
Exxon Mobil Corp. says it will comply with new protections for gay and transgender employees required of federal contractors, but isn’t saying whether it will formalize that wording in its corporate policies.
The CEO of Exxon Mobil Corp. says alternative fuels will grow but that oil will remain the world’s leading source of energy for another quarter century.
Exxon Mobil reported on Thursday that its net income fell 4 percent in the fourth quarter as it produced less oil and natural gas and posted weaker refining results.
The CEO of Exxon Mobil received compensation worth $28.1 million last year, a 3 percent increase over the previous year. Most of it came in the form of stock awards.
Exxon Mobil’s profit is down 16 percent from last year as the company is producing slightly less oil and gas. But it is still making more than $8.3 billion in three months.
Exxon Mobil’s profit is down 18 percent from last year, the company said Thursday, but the oil and gas giant is still making nearly $8 billion in three months.
Exxon Mobil says net income fell 57 percent in the second quarter on weaker refining results, lower production and minus a big gain in the year-ago quarter.