Home / Knowledge / News / Textiles / Exxonmobil reports 58% slide in Q4 earnings
Exxonmobil reports 58% slide in Q4 earnings
04
Feb '16
For the fourth quarter ended December 31, 2015, Exxonmobil reported a 58 per cent slide in earnings to $2.8 billion from $3.8 billion in the year ago quarter.

“Assuming dilution, earnings per share in the reporting quarter stood at $0.67, a decrease of 57 per cent over the fourth quarter of 2015,” an Exxonmobil press release said.

In the fourth quarter of 2015, capital and exploration expenditures were $7.4 billion, down 29 per cent from the prior year's same quarter.

In the same quarter, oil-equivalent production however increased 4.8 per cent, with liquids up 14 per cent and natural gas down 5.6 per cent.

“In the quarter under review cash flow from operations and asset sales amounted to $5.1 billion, including proceeds associated with asset sales of $785 million,” it added.

The company distributed $3.6 billion to shareholders in the fourth quarter of 2015, including $500 million in share purchases to reduce shares outstanding.

Dividends per share of $0.73 in the three months to December 31, 2015 rose 5.8 per cent compared with the comparable quarter of 2014.

Exxonmobil further added that it successfully started the onshore central processing facility in Indonesia, which helped production reach more than 130,000 gross barrels of oil per day in the fourth quarter.

“The field is currently ramping up to full capacity and is expected to produce 450 million gross barrels of oil over its lifetime,” the company informed.

The company is beginning a production pilot program on the La Invernada and Bajo del Choique blocks in the Neuquén province of Argentina.

“This program includes drilling five wells, as well as constructing a production facility and gas pipeline,” the world's biggest oil company stated.

For full year 2015 too, earnings at $16.2 billion declined 50 per cent from $32.5 billion in 2014, while earnings per share, assuming dilution dipped 49 per cent to $3.85.

Capital and exploration expenditures were $31.1 billion, down 19 per cent from 2014 and the company anticipates further reductions in 2016, with capital and exploration expenditures of $23.2 billion.

In 2015, oil-equivalent production increased 3.2 per cent from 2014, with liquids up 11 per cent and natural gas down 5.7 per cent.

Cash flow from operations and asset sales reached $32.7 billion, which also includes proceeds associated with asset sales of $2.4 billion.

The corporation distributed $15.1 billion to shareholders in 2015 through dividends and share purchases to reduce shares outstanding. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Uzbekistan wants joint ventures with Hungarian textile firms

Textiles | On 20th Feb 2018

Uzbekistan wants joint ventures with Hungarian textile firms

Uzbekistan has offered Hungary to create joint ventures in the two...

Vietnam’s textile & garment exports up 10.68% in 2017

Textiles | On 20th Feb 2018

Vietnam’s textile & garment exports up 10.68% in 2017

Vietnam came very close to achieving its 2017 textile and garment...

From left: Tania Polonnowita Wettimuny, MD, Hellmann Sri Lanka; Bart de Vries, Global COO Air & Sea Hellmann; Deshamanya Mahesh Amalean, Chairman, MAS Holdings; & Shirendra Lawrence, COO, MAS Holdings

Textiles | On 20th Feb 2018

Hellmann and MAS form joint venture HMSC

Hellmann Worldwide Logistics and MAS Holdings have formed Hellmann...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

C Dhandayuthapani

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Larry L Kinn
Suominen Corporation

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

February 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search