Exxon Signals Strong Q4 profit To Drive Annual Record

Exxon Mobil Corporation has signalled another strong operational profit of about $15.4 billion in its fourth quarter.

This pushes it toward a record take for all of 2022.

The largest U.S. oil producer indicated in securities filing a cooling from its massive profits from the prior quarter. But preliminary operational results confirmed 2022 was Exxon’s best financial year with profits of around $58 billion.

Operational results from pumping oil and gas, its largest business, retreated about $2.3 billion from the record $12.4 billion in the third quarter as crude prices fell.

It delivered about $4.9 billion of profit in the quarter as fuel prices also eased from summer highs.

Chemical profits decreased to about $300 million, while motor oils profits were unchanged at about $800 million.

Reuters/Mercy Chukwudiebere