ExxonMobil Corporation releases Q1 2018 results
Published by Will Owen,
Editor
LNG Industry,
Exxon Mobil Corporation has announced estimated Q1 2018 earnings of US$4.7 billion, or US$1.09 per share assuming dilution, compared with US$4 billion a year earlier.
Cash flow from operations and asset sales was US$10 billion, including proceeds associated with asset sales of US$1.4 billion. During the quarter, the corporation distributed US$3.3 billion in dividends to shareholders. Capital and exploration expenditures were US$4.9 billion (up 17% from last year).
“Increased commodity prices, coupled with a focus on operating efficiently and strengthening our portfolio, resulted in higher earnings and the highest quarterly cash flow from operations and asset sales since 2014,” said Darren Woods, chairman and CEO. “Through new discoveries and acquired acreage, we’ve positioned our upstream portfolio well for future growth. We also made good progress on our plans to improve the production mix and grow premium product sales in the downstream and chemical businesses.”
LNG highlights:
- Natural gas prices were supported by strong seasonal demand with colder weather across Europe and the U.S. and higher crude-linked LNG prices.
- Natural gas prices were supported by strong seasonal demand with colder weather across Europe and the U.S. and higher crude-linked LNG prices.
- Natural gas prices were supported by strong seasonal demand with colder weather across Europe and the U.S. and higher crude-linked LNG prices.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/30042018/exxonmobil-corporation-releases-q1-2018-results/
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