ExxonMobil, Chevron, Total post strong profits in Q3
by ChemOrbis Editorial Team - content@chemorbis.com
The American oil majors ExxonMobil and Chevron Corp. reported an increase of 50% and 52% in profit respectively during the third quarter of 2017.
ExxonMobil’s third quarter net profit surged by almost 50% to $3.97 billion from $2.65 billion recorded in the same period of last year. Chevron’s net income also doubled to $1.95 billion, up from $1.28 billion in the prior-year quarter.
ExxonMobil’s total revenues for the quarter increased by12.8% to $66.17 billion, defying the expectations of $63.20 billion.
Chevron’s total revenues also grew by 20% on a yearly basis to $30.14 billion in the third quarter of 2017.
The increases in ExxonMobil’s profit were mostly attributed to the improved commodity prices as well as its firm upstream and downstream segments.
Chevron, on the other hand, stated that the rise mainly stemmed from better refining margins and higher crude oil prices.
France’s Total S.A, meanwhile, posted a net income of $2.7 billion, up by %28 on a yearly basis in the third quarter, in a company statement dated October 27, 2017. Total attributed the increase in net income to major production ramp-ups and reduced operating costs.
The company’s sales stood at $43 billion in the third quarter of 2017, up from $37.41 billion recorded in the same of quarter of last year.
ExxonMobil’s third quarter net profit surged by almost 50% to $3.97 billion from $2.65 billion recorded in the same period of last year. Chevron’s net income also doubled to $1.95 billion, up from $1.28 billion in the prior-year quarter.
ExxonMobil’s total revenues for the quarter increased by12.8% to $66.17 billion, defying the expectations of $63.20 billion.
Chevron’s total revenues also grew by 20% on a yearly basis to $30.14 billion in the third quarter of 2017.
The increases in ExxonMobil’s profit were mostly attributed to the improved commodity prices as well as its firm upstream and downstream segments.
Chevron, on the other hand, stated that the rise mainly stemmed from better refining margins and higher crude oil prices.
France’s Total S.A, meanwhile, posted a net income of $2.7 billion, up by %28 on a yearly basis in the third quarter, in a company statement dated October 27, 2017. Total attributed the increase in net income to major production ramp-ups and reduced operating costs.
The company’s sales stood at $43 billion in the third quarter of 2017, up from $37.41 billion recorded in the same of quarter of last year.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- March hints at further hikes in European PP, PE markets
- India’s PVC market dips to new lows on Taiwan’s March cuts, players seek signs of bottom
- Q1 turnarounds uplift Mid-East PP, PE markets in February; will it spill over to March?
- SE Asia’s indefinite PE shutdowns: A market in crisis as demand woes threaten survival
- Türkiye’s PPH markets perform better than copolymers in February
- Margin recovery priorities outweigh supply imbalances in European PVC markets
- Asian PVC demand stagnant; recovery hopes shift to end of Q1
- Tough slog in S Korea’s petchem industry spells disappointing 2024 financial results; will government's recent plan help weather the storm?
- China’s PP, PE markets face post-holiday supply surge and tepid demand
- A tug-of-war unfolds in Türkiye as PVC demand struggles against rising costs
