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ExxonMobil signals better first-quarter earnings as oil prices climb

Apr 01, 2021 News

Kaieteur News – (Reuters) – ExxonMobil Corp. expects rising first-quarter results across its three major businesses, with an at least $2 billion improvement from prices for oil and gas driving profits, the company signalled in a securities filing on Wednesday.
The filing, detailing factors that affected the business, showed higher oil prices sequentially lift its oil and gas operating results by between $1.6 billion and $2 billion over the fourth quarter. Natural gas pricing added another up to $700 million to operating profit, it indicated.
The filing also signalled a gain of as much as $1 billion in refining from better margins and unsettled derivatives. Exxon’s chemicals business is seen recording an up to $600 million boost over fourth quarter results in its chemicals business from better margins.

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