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.
Downtown is once again aglow with an old-skool icon — the Pegasus sign atop the Magnolia Hotel. It rivals the technicolor tableaux created nightly by one million LED lights at the Dallas Omni Hotel with its simplicity
Exxon Mobil shareholders are voting on measures to explicitly ban discrimination against gays and to reduce production of greenhouse gas emissions.
Exxon Mobil expects production to decline by one percent this year. Over the next five years, however, the company expects production to rise by two or three percent per year.
Exxon says fourth-quarter earnings rose 6 percent to $9.95 billion with help from higher profit margins in its refining business.
Apple shares are plunging after the company reported quarterly results that point to growth slowing after five blowout years.
Exxon Mobil is raising the salary of CEO Rex Tillerson by 6 percent, to $2.72 million, on January 1. The oil giant said that Tillerson will also get a $4.59 million bonus.
Exxon Mobil said that principal financial officer Donald Humphreys, who is also a senior vice president, plans to retire on February 1 after 36 years with the oil company.
Exxon Mobil said that its profit fell 7 percent in the third quarter as it produced less oil and gas and fetched lower prices. The oil company said that net income totaled $9.57 billion.
Exxon Mobil CEO Rex Tillerson says that fears about climate change, drilling, and energy dependence are overblown.
Exxon Mobil’s CEO had a good year in 2011 — compensation valued at $25.2 million. Shareholders did as well, and they’re supporting the oil giant’s pay program.