RSS   Newsletter   Contact   Advertise with us
Post Online Media
Post Online Media Magazine

Exxon Mobil full-year earnings $44.9 billion

Share on Twitter Share on LinkedIn
Staff writer ▼ | February 1, 2013
Exxon MobilExxon Mobil posted full-year earnings of $44.9 billion and Q4 earnings of nearly $10 billion, up 6% from a year earlier.


Full year upstream earnings were $29,895 million, down $4,544 million from 2011. Lower liquids realizations, partly offset by improved natural gas realizations, decreased earnings by about $100 million. Production volume and mix effects decreased earnings by $2.3 billion. All other items, including higher operating expenses, unfavorable tax items, lower gains on asset sales, and unfavorable foreign exchange effects, reduced earnings by $2.1 billion.

Downstream earnings for the full yeear of $13,190 million increased $8,731 million from 2011. Stronger refining-driven margins increased earnings by $2.6 billion, while volume and mix effects increased earnings by about $200 million. All other items increased earnings by $5.9 billion due primarily to the $5.3 billion gain associated with the Japan restructuring and other divestment gains.

said Rex W. Tillerson"Capital and exploration expenditures were a record $39.8 billion in 2012 as we continue pursuing opportunities to find and produce new supplies of oil and natural gas to meet global demand for energy. In 2012, the Corporation distributed over $30 billion to shareholders through dividends and share purchases to reduce shares outstanding," said Rex W. Tillerson, Exxon's chairman and CEO.

Chemical earnings of $3,898 million were $485 million lower than 2011. Margins decreased earnings by $440 million, while volume effects lowered earnings by $100 million. All other items increased earnings by $50 million, as a $630 million gain associated with the Japan restructuring and favorable tax impacts were mostly offset by unfavorable foreign exchange effects and higher operating expenses.

During A4,eEarnings of $9,950 million increased $550 million or 6% from the fourth quarter of 2011, earnings per share (assuming dilution) were $2.20, an increase of 12% from the fourth quarter of 2011, and capital and exploration expenditures were $12.4 billion, up 24% from the fourth quarter of 2011.

POST Online Media Contact