Exxon Mobil reports strong quarterly profit on solid production at home and abroad
Exxon Mobils topped most expectations in the fourth quarter as the energy giant reported solid production in the Permian Basin and Guyana For the three months ended December 31 Exxon earned USD 65 billion or USD 153 per share It earned USD 761 billion or USD 172 per share a year earlier Excluding one time charges and benefits earnings were USD 171 per share topping the USD 168 per share that Wall Street was calling for according to a poll by Zacks Investment Research Exxon does not adjust its reported results based on one-time events such as asset sales Revenue totaled USD 8231 billion which was below the USD 8318 billion that analysts expected Fourth-quarter net production was 5 million oil-equivalent barrels per day Thats up slightly from 47 million oil-equivalent barrels per day in the third quarter The quarterly performance included 18 million oil-equivalent barrels per day in the Permian and Guyana approaching 875000 gross barrels per day Exxons stock dropped more than 2 per cent before the market opened Friday Earlier this month President Donald Trump said that he is inclined to keep Exxon Mobil out of Venezuela after its top executive was sceptical about oil investment efforts in the country after the toppling of former President Nicols Maduro Getting US oil companies to invest in Venezuela and help rebuild the countrys infrastructure is a top priority of the Trump administration after Maduros capture
