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lunes, 19 de agosto de 2013

Exxon Mobil profit, production and sales fall : Report

Exxon Mobil Corp.'s  second-quarter earnings fell 57% amid weaker refining margins and volume and as the year-earlier period included a net asset-sale gain of $7.5 billion
The world's largest publicly traded oil company is also the largest natural gas producer in the U.S., since its $25 billion acquisition of XTO Energy Inc. in 2010
Exxon has added to its shale-gas assets through additional deals since then, such as its $1.6 billion deal for Denbury Resources Inc.'s Bakken assets last year
Exxon's production has been mostly lower over the past year, turning up modestly during the first quarter after a string of declines
A North American shale-drilling boom has contributed to fluctuations in oil and natural-gas prices that have challenged the sector
However, an abundance of lower price crude has benefited Exxon's refining margins
Exxon Mobil reported a profit of $6.86 billion, or $1.55 a share, down from $15.91 billion, or $3.41 a share, a year earlier
Revenue decreased 16% to $106.5 billion
Analysts polled by Thomson Reuters recently expected per-share earnings of $1.90 and revenue of $105.54 billion
Production decreased 1.9% on an oil-equivalent basis, as oil production and natural-gas output were both lower
Exploration and production operating earnings fell 25% amid higher operating expenses and a year-earlier gain in Angola
The company's refining and marketing business reported operating earnings plunged 76% amid weaker refining margins and a year-earlier gain of $5.3 billion gain associated a restructuring in its Japan business
The company spent $4 billion on stock buybacks during the quarter

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