NEW YORK (AP) — Exxon Mobil introduced in $69 billion in income within the second quarter, down from final yr’s $73.5 billion.
A number of the advantages of rising crude costs, up 22% this yr, had been offset by pure fuel costs, which have fallen virtually 24% over the identical time-frame.
The nation’s largest oil firm stated Friday that its revenue fell 21 p.c to $3.1 billion, or 73 cents per share, in contrast with final yr’s $four billion, however that’s nonetheless higher than the per-share earnings of 66 cents that analysts had been in search of, in keeping with a survey by FactSet.
“We proceed to make important progress towards delivering our long-term development plans,” stated CEO Darren Woods in a ready assertion.
Oil manufacturing was 3.9 million barrels per day, up 7 p.c from the identical time final yr. Exxon made key investments within the Permian Basin, spending $8.1 billion on capital and exploration total, which was up 22 p.c from final yr. Permian manufacturing was up practically 90 p.c from the second quarter of final yr.
“Throughout instances of value volatility, we hold the…