US supermajor ExxonMobil has posted a 2 per cent rise in the last quarter of 2011 to US$9.4 billion, with net income up 35 per cent to US$41.06 billion.
The company said the increase is a result of higher oil and natural gas pirces, improved refining and chemical margins, and gains on asset sales.
ExxonMobil’s upstream business provided with US$8.8 billion in Q4, up US$1.34 billion from the same period in 2010.
International earnings also improved markedly, to US$7.64 billion and US$29.34 billion from US$6.16 billion and US$19.82 billion last year. Europe, however, weighed on demand, partially offsetting growth in the US.
Oil and liquids production decreased to 2.25 billion barrels in the Q4 from 2.52 billion a year earlier.
Natural gas production also fell from 14.65 billion cfd in Q4 2010 to 13.67 billion in the Q4 2011.
Oil and Gas News | International
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