ExxonMobil reports 58% drop in fourth quarter profits to $2.8bn

GMT 13:36 2016 Tuesday ,02 February

Arab Today, arab today ExxonMobil reports 58% drop in fourth quarter profits to $2.8bn

ExxonMobil
New York - Arab Today

ExxonMobil reported a 58 percent drop in fourth-quarter earnings as plunging oil prices dented results in the US oil giant's exploration and production business.

Earnings for the quarter came in at $2.8 billion as revenues fell 31.5 percent to $59.8 billion. Lower capital spending enabled ExxonMobil to remain profitable during a quarter in which both BP and Chevron reported losses.


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