Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
News
All NewsCompaniesIndexesCurrency / ForexCommoditiesCryptocurrenciesETFInterest RatesEconomyThemesSectors 

Exxon signals strong Q3 earnings on natural gas

10/04/2022 | 05:40pm EST

Oct 4 (Reuters) - Exxon Mobil Corp on Tuesday signaled strong third quarter operating profits on the heels of the second quarter's all time high as earnings from high natural gas offset weaker refining and chemicals, according to a securities filing.

The largest U.S. oil producer issued a snapshot of factors affecting third quarter results that showed operating results could land near its $17.9 billion second quarter results.

The preview indicated natural gas was the one business to benefit from higher prices.

Exxon and rivals this year have posted sky-high earnings on rising energy prices and demand aided by cost-cutting.

In the third quarter, U.S. natural gas prices averaged $8.47 per million British thermal units, up from $7.17 mmBtu in the second quarter. Brent prices eased to $98 per barrel in the same period, from an average of $109 between April and June. Exxon's official results are due on Oct. 28. (Reporting by Arunima Kumar in Bengaluru; Editing by Sriraj Kalluvila)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BRENT OIL 1.72% 78.44 Delayed Quote.2.29%
EXXON MOBIL CORPORATION -0.22% 103.65 Delayed Quote.69.77%
S&P GSCI NATURAL GAS INDEX 2.30% 273.1623 Real-time Quote.51.50%
WTI 2.76% 74.342 Delayed Quote.-1.19%
Latest news "Economy"
08:23aBOE Expected to Opt for Smaller Interest-Rate -2-
DJ
08:23aBOE Expected to Opt for Smaller Interest-Rate Increase at December Meeting
DJ
08:21aFactbox-Viktor Bout, the arms dealer Russia has swapped for Brittney Griner
RE
08:19aFactbox-Brittney Griner, U.S. basketball star caught up in Russia crisis
RE
08:18aKremlin appears to scale back its ambitions in Ukraine
RE
08:14aU.S. Online goods prices fall in positive sign for Fed - Adobe
RE
08:13aKremlin: gas union with Uzbekistan not about political conditions
RE
08:07aAdani's $900 million Indian port build restarts as villagers end protest
RE
08:06aNigerian military rejects Reuters report of secret mass abortion programme
RE
08:03aNigeria's Moove raises $30 million via debut sukuk
RE
Latest news "Economy"