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ExxonMobil posts stronger financial results for Q3

by ChemOrbis Editorial Team - content@chemorbis.com
  • 03/11/2014 (11:27)
According to a press release dated October 31 on the company’s website, ExxonMobil has announced its financial results for the third quarter of 2014. The company’s profit increased 3% year over year to reach $8.07 billion in the third quarter from $7.87 billion in the same period of 2013.

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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