Saturday, March 25

Exxon achieved its best results in 7 years thanks to oil prices

Exxon had also released on Monday a business reorganization to speed up a cut of 6,000 million dollars in operating expenses that was launched last year.

The renewal “will position us to lead cash flow and earnings growth, operating performance and the energy transition”said the CEO Darren Woods it’s a statement.

Exxon earned a earnings of $2.08 per share, which beat analysts’ forecast of $1.94, as Results benefited from higher oil and gas prices, higher volumes and asset sales.

In the same quarter of the previous year, the company had obtained an adjusted profit of 3 cents per share.

“ExxonMobil has closed a tumultuous year with results that can be described as solid”said Peter McNally, head of Third Bridge’s global energy and industrial materials sector.