ExxonMobil posts stronger financial results for Q3
The company cited higher margins and improved operations in its refining and chemical business as the main factors behind its stronger financial results. The company’s profit in its refining business surged to $1.024 billion from $592 million in the same period of the previous year. Profits in the chemicals unit also were up 17% on a yearly basis to $1.2 billion.
Meanwhile, the company’s oil and gas production fell 4.7% year over year while earnings from the exploration and production segment was down 4.4% to $6.4 billion due to lower crude oil prices.
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