Home / Knowledge / News / Textiles / Exxonmobil reports 58% slide in Q4 earnings
Exxonmobil reports 58% slide in Q4 earnings
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

Respresentatives of over 30 Chinese companies in a meeting with officials of Kazakh Invest National Company; Courtesy: primeminister.kz

Textiles | On 17th Aug 2018

Kazakh-China cooperation in textiles explored in Astana

China and Kazakhstan have immense potential to cooperate in textiles...

Courtesy: Pexels

Textiles | On 17th Aug 2018

AWEX EMI closes at highest ever level of 2116ac clean/kg

The Australian Wool Exchange (AWEX) Eastern Market Indicator (EMI)...

Courtesy: VF Corporation

Apparel/Garments | On 17th Aug 2018

VF Corporation shifting global headquarters to Denver

VF Corporation, one of the largest apparel, footwear and accessories...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

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

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Top executives
Textile industry, India

The event should be organised every year

Umang Banthia

Established in 2005, SL Banthia Textiles manufactures coated fabrics....

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

C Dhandayuthapani

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

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mark Paterson
Technical Absorbents Ltd

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Nisha Chanda
Whistling Woods International School of Fashion

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

August 2018

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

news category

Related Categories:

Advanced Search