ExxonMobil Corporation has announced estimated third quarter 2016 earnings of $2.7 billion, or $0.63 per diluted share, compared with $4.2 billion a year earlier.
“ExxonMobil’s integrated business continues to deliver solid results,” said Rex W. Tillerson, Chairman and Chief Executive Officer. “While the operating environment remains challenging, the company continues to focus on capturing efficiencies, advancing strategic investments, and creating long-term shareholder value.”
During the quarter, upstream earnings were $620 million. Volumes for the quarter declined three per cent to 3.8 million oil-equivalent barrels per day compared with a year ago, due to unplanned downtime, primarily in Nigeria, and field decline partially offset by increased production from recent project start-ups.