ExxonMobil announces financial results for Q2
Upstream earnings dropped from $5.9 billion in the same period of 2014 to $2 billion in the second quarter of this year. Downstream earnings, in contrast, were up $795 million on the year to reach $1.5 billion. The increase in downstream earnings was attributed to stronger margins. Chemical earnings, meanwhile, reached $1.2 billion in the April-June period, up $405 million year over year. The positive result in chemical earnings was attributed to stronger margins stemming from lower feedstock costs.
In the first half of 2015, meanwhile, earnings fell to $9.1 billion, down by 49% from the same period of the previous year. In addition, chemical earnings rose by $340 million year over year to reach $2.2 billion in the January-June period.
The company reportedly stated that their quarterly results reflected the various impacts of the current commodity price environment. The company also reported that the results show the strength of their sound operations, superior project execution capabilities, as well as continued discipline in capital and expense management.
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