Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » ExxonMobil sees revenue drop

    ExxonMobil sees revenue drop

    February 2, 2013
    Share
    Facebook Twitter LinkedIn WhatsApp

    02 February 2013, Sweetcrude, Houston – US oil giant, ExxonMobil Corpotaion, saw its net profit climb last year despite recording a drop in revenues as downstream numbers rose

    Total production also dropped at the Irving, Texas-based giant which still managed to boost its capital and exploration expenditure to a record $39.8 billion.

    Net profit for the 12 months to the end of December reached $44.88 billion, up from the $41.06 billion seen a year earlier.

    Revenues, however, went the other way, dropping from $486.43 billion to $482.3 billion as production dropped 6% year-on-year.

    The company managed to bolster the bottom line, however, by chopping total costs from $413.17 billion to $403.57 billion.

    Upstream earnings sank $4.54 billion to $29.9 billion due to lower liquids realisations as well as production volume and mix effects. Earnings from US upstream operations alone dropped $1.17 billion to $3.93 billion.

    “All other items, including higher operating expenses, unfavourable tax items, lower gains on asset sales and unfavourable foreign exchange effects reduced earnings by $2.1 billion,” ExxonMobil said on Friday.

    Liquids production was down by 127,000 barrels of oil equivalent per day to 2.19 million boepd. Natural gas production produced 12.32 million cubic feet per day, down 840 million cfd.

    It was a different story for the downstream segment, however, with earnings soaring $8.73 billion to $13.19 billion. This was mainly due to a Japanese divestment but refining margins were also healthier.

    US downstream earnings rose $1.31 billion to $3.58 billion.

    Chemicals earnings sank $485 million to $3.9 billion.

    Related News

    NOSDRA inaugurates technical committee on application of capping stack

    IPPG commends NUPRC’s regulatory reforms

    Seplat Energy earns CIPS Procurement Excellence Standard Certificate 

    E-book
    Resilience Exhibition

    Latest News

    Tetracore, Dangote Cement boost energy partnership with new mobile refueling units

    June 15, 2025

    Transocean Coatings establishes affiliate at SIIFZ

    June 15, 2025

    Nigeria reiterates commitment to port automation

    June 15, 2025

    Seplat Energy earns CIPS Procurement Excellence Standard Certificate

    June 15, 2025

    NOSDRA inaugurates technical committee on application of capping stack

    June 15, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.