Home / Knowledge / News / Textiles / Earnings dip sharply at Exxon Mobil in Q2
Earnings dip sharply at Exxon Mobil in Q2
02
Aug '16
Exxon Mobil Corporation reported earnings of $1.7 billion, or $0.41 per diluted share in the three months ended June 30, 2016, compared with $4.2 billion a year earlier, a sharp dip of 59.5 per cent.

“The results reflect sharply lower commodity prices, weaker refining margins and continued strength in the chemical segment,” the world's biggest oil producer and refiner said.

During the second quarter of 2016, upstream earnings were $294 million, while production volumes were essentially unchanged at 4 million oil-equivalent barrels per day.

“Liquids production growth from recent start-ups more than offset the impact of field decline and downtime events, notably in Canada and Nigeria,” it said.

The US headquartered company added that earnings from the chemical segment remained strong at $1.2 billion, reflecting continued benefits from gas and liquids cracking as well as growing demand.

Earnings from the downstream segment totaled $825 million, which Exxon Mobil attributed to significantly lower global refining margins versus the prior year's second quarter.

However, capital and exploration expenses were reduced by 38 per cent year on year to $5.2 billion, while the company distributed $3.1 billion in dividends to shareholders in the reporting quarter. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Indian govt relaxes cabotage rule for cotton transport

Textiles | On 25th May 2018

Indian govt relaxes cabotage rule for cotton transport

The Government of India has relaxed cabotage rules for transportation ...

Courtesy: Teejay Lanka

Textiles | On 25th May 2018

Teejay Lanka doubles production capacity at Indian mill

Teejay Lanka, one of Sri Lanka’s largest textile manufacturers, has...

Courtesy: Messe Frankfurt/Yarn Expo Autumn edition

Textiles | On 25th May 2018

Yarn Expo Autumn 2018 scheduled earlier

Over 500 exhibitors are expected at the Yarn Expo Autumn 2018, being...

Interviews View All

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Top executives
Textile industry

The foremost issue is bridging the skill gap

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search