ExxonMobil’s third quarter earnings surge 57 percent

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ExxonMobil has boosted third quarter earnings by 57 percent, buoyed by increased crude oil and natural gas prices compared to the corresponding period a year ago.

In its financial report published on Friday, the supermajor said earnings had increased by 57% to US$6.2 billion in the third quarter compared to $3.97 billion in the same period last year.

The company’s revenues rose to $76.6 billion from $61.1 billion in the previous corresponding period in 2017.

Oil-equivalent production was 3.8 million barrels per day, down 2 percent from the third quarter of 2017. Excluding entitlement effects and divestments, liquids production increased 6 percent, as growth in North America more than offset decline and higher downtime. Natural gas volumes decreased 4 percent.

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