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Exxon Mobil’s profits fall in third quarter


Exxon Mobil Corp.'s profits fell in the third quarter, reported Friday.

The Irving Awards major in Texas saw its third-quarter net profit of $ 3.11 billion, just over half of the company's reported profits in the same quarter last year.

Exxon recorded revenues of $ 66.5 billion in the third quarter from $ 677.6 billion in the same quarter last year.

LNG losses: Nier energy lost $ 321 million at higher costs

Nevertheless, energy giants exceeded Wall Street expectations. Exxon reported that it earned 75 cents per share. Analysts expected an income of 67 cents per share.

Oil equivalent production increased 3{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} in the third quarter of 2018, to 3.9 million barrels per day. Due to the growth of the Permian basin, liquid production increased by 4{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5}, and natural gas production increased by 1{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5}.


The production of the Permian Basin increased by 7{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} in the third quarter.

"We are making great progress in our long-term growth strategy," said Darren W. Woods, chairman and CEO of the statement.

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