HOUSTON—Exxon Mobil Corp. signaled on Thursday that higher oil and gas prices would boost third-quarter earnings by as much as $1.5 billion over the second quarter. Natural gas prices in the United States have more than doubled this year and oil prices are up 52 percent as energy demand recovers from the COVID-19 pandemic. Exxon also has been cutting costs and laying off personnel following a historic loss in 2020. Lower costs coupled with the recent rebound in oil and gas have driven profit sharply higher. Natural gas prices should give the U.S. oil producer the largest increase in operating profit in the quarter, the company signaled in a corporate filing. Profit from natural could rise between $500 million—900 million this quarter over last, it said. U.S. natural gas prices were trading at almost $6 per million British Thermal units on Thursday. Healthier refining margins could add from $500 million …
-
Recent Posts
-
Archives
- May 2025
- April 2025
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- September 2013
- July 2013
- March 2013
- January 2013
- December 2012
- November 2012
- December 1
-
Meta