Houston – The benefit of Exxon Mobil in the fourth quarter exceeded expectations on Friday, the increase in oil and gas production compensated for the drop in oil prices and the weakening of refining margins.
The quarterly profit was 7.39 billion dollars (7.12 billion euros), or 1.67 dollars per share, above the expectations of analysts who were tabling on 1.56 dollars per share, according to the LSEG data.
After the acquisition of Pioneer Natural Resources in May, the group became in 2024 the first oil producer in the Permian basin, the largest oil field in the United States.
The low exxon production costs in the basin and its numerous lucrative projects in Guyana supported the benefit of the company, despite the drop in oil prices and the decline of income related to fuel manufacturing.
The refining activity remains under pressure while the additional offer arrives on the market, said Kathryn Mikells, financial director of Exxon, during an interview.
“This is really what we observe by 2025,” she added.
Shareholder yields through buyouts and dividends reached $ 36 billion in 2024, against $ 32 billion the previous year.
(Sheila Dang, Elena Smirnova, edited by Augustin Turpin)
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