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

GMAC urges Cambodia to push fabric-forward rule in RCEP

Apparel/Garments | On 17th Oct 2017

GMAC urges Cambodia to push fabric-forward rule in RCEP

Representatives from the Garment Manufacturers Association of...

Alibaba to invest $15 billion in DAMO Academy for research

Textiles | On 17th Oct 2017

Alibaba to invest $15 billion in DAMO Academy for research

Alibaba will invest $15 billion over the next several years in its...

Pressure on  Indian textiles exporters to ease by Q3: ICRA

Textiles | On 17th Oct 2017

Pressure on Indian textiles exporters to ease by Q3: ICRA

Pressures on the profit and debt levels of textiles exporters is...

Interviews View All

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

C Dhandayuthapani

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

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

October 2017

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
76.9%
No
13.8%
Skip
9.2%

Total Votes: 65

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
61.5%
No
27.7%
Skip
10.8%

Total Votes: 65

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
84.6%
No
10.8%
Skip
4.6%

Total Votes: 65

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
73.8%
No
12.3%
Skip
13.8%

Total Votes: 65


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