News Column

United States : EXXONMOBIL drops 4% in earnings

May 7, 2014



A leading producer of crude oil and gas, ExxonMobil, has announced an earning of $9.1bn in Q1-2014, a drop of 4 per cent or $400m from the same period last year.

Upstream revenue amounted to $7.8bn, an increase of 11 per cent from the year ago.

The Chairman Rex Tillerson said, "Capital and exploration expenditures for the first quarter were $8.4bn, down 28 per cent from the first quarter of 2013. The Corporation distributed $5.7bn to shareholders in the first quarter through dividends and share purchases to reduce shares outstanding."

He added : "Capital and exploration expenditures were $8.4bn, down 28 per cent from the first quarter of 2013, reflecting the absence of the $3.1bnCeltic Exploration Ltd. acquisition."


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Source: TendersInfo (India)