As complaints are once again raised about the quarterly profits of oil companies, I take a closer look at ExxonMobil s profits, and compare them to Google s profits.
Saturday, 01 May 2021 07:24 AM MYT
ExxonMobil, which reported losses in all four quarters in 2020, reported profits of US$2.7 billion in the first quarter. Reuters pic
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NEW YORK, May 1 After a string of losses, ExxonMobil and Chevron yesterday both reported a return to profitability in the first quarter, bolstered by a significant jump in oil prices.
The results, which come amid a similar round of profits by Royal Dutch Shell, Total and other European petroleum giants, point to a much-improved demand outlook compared with last year, when oil prices tumbled midway through the first quarter as the coronavirus crisis shuttered large parts of the economy.
Monday, 01 Feb 2021 07:40 AM MYT
Exxon and Chevron’s shares nosedived last year after a Saudi-Russian price war and fallout from the novel coronavirus outbreak caused the value of oil to crater. Exxon’s stock was hit hardest, as investors raised concerns about the company’s long-term profitability and spending decisions. ― Reuters pic
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NEW YORK, Feb 1 The chief executives of ExxonMobil Corp and Chevron Corp held preliminary talks in early 2020 to explore combining the two largest US oil producers in what would have been the biggest merger of all time, according to people familiar with the matter.