THIRD QUARTER HIGHLIGHTS
- Earnings of $7,870 million decreased $1,700 million or 18% from the third quarter of 2012.
- Earnings per share (assuming dilution) were $1.79, a decrease of 14% from the third quarter of 2012.
- Capital and exploration expenditures were $10.5 billion, up 15% from the third quarter of 2012, in line with anticipated spending plans.
- Oil-equivalent production increased 1.5% from the third quarter of 2012. Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, production increased 2.7%, with liquids volumes up 5.3%.
- Cash flow from operations and asset sales was $13.6 billion, including proceeds associated with asset sales of $0.2 billion.
- Share purchases to reduce shares outstanding were $3 billion.
- Dividends per share of $0.63 increased 11% compared to the third quarter of 2012.
- The Esso Australia Pty Ltd operated Kipper Tuna Turrum project commenced natural gas production from the Tuna field and oil production from the Turrum field. The project is the largest domestic oil and gas development on Australia’s eastern seaboard and will help secure Australia’s energy future.
As announced on August 8, 2013, Imperial Oil Limited and ExxonMobil Canada Ltd. have acquired ConocoPhillips’ interest in the Clyden oil sands lease, approximately 95 miles south of Fort McMurray, Alberta. The Clyden lease contains 226,000 gross acres and is a high-quality addition to Imperial’s portfolio of oil sands in-situ opportunities.
Third Quarter 2013 vs. Third Quarter 2012
Upstream earnings were $6,713 million in the third quarter of 2013, up $740 million from the third quarter of 2012. Higher liquids and natural gas realizations increased earnings by $440 million. Production volume and mix effects increased earnings by $20 million. All other items, including favorable tax and foreign exchange impacts, partly offset by higher operating expenses, increased earnings by $280 million.
On an oil-equivalent basis, production increased 1.5% from the third quarter of 2012. Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, production increased 2.7%.
Liquids production totaled 2,199 kbd (thousands of barrels per day), up 83 kbd from the third quarter of 2012. Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, liquids production was up 5.3%, as lower downtime and project ramp-up in Canada and Nigeria were partially offset by field decline.
Third quarter natural gas production was 10,914 mcfd (millions of cubic feet per day), down 147 mcfd from 2012. Excluding the impacts of entitlement volumes and divestments, natural gas production was down 0.3%, as field decline was mostly offset by lower downtime and project ramp-up.
Click here to read full results
ExxonMobil Chemical Company
Textiles | On 29th May 2017
The special garment package of Rs 6,000 crore that was introduced by...
Textiles | On 29th May 2017
The textile company Tintex has joined hands with the system supplier...
Indo Count Retail Ventures
Today, there is no other emerging market as India, "we make in India and...
Maa Tex Speciality
‘We suggest reducing dosage of sizing chemicals to reduce sludge...
Angelina Francesca Cheang
'Consumers in the age-group 21 to 38 are driving the activewear trend'
Swerea IVF AB
Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...
Bombay Textile Research Association
Bombay Textile Research Association (BTRA) is a leading name in textile...
InvestKonsult Sweden AB
Investkonsult Sweden AB has been buying and selling second-hand textile...
Sonam and Paras Modi's Sva Couture is synonymous with head-turning...
Rupa Sood and Sharan Apparao
Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...
Yash P. Kotak
Bombay Hemp Company
One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...