1Q Exxon Mobil profit fell to $8.22bn due to lower natural gas prices and industry refining margins.
Exxon Mobil's Q1 profit fell due to dropping natural gas prices and industry refining margins, earning $8.22bn or $2.06 per share compared to $11.43bn or $2.79 per share a year earlier. The company's revenue decreased to $83.08bn from $86.56bn in the previous year, while production in Guyana surpassed expectations. Exxon anticipates US Federal Trade Commission to approve its $60bn acquisition of Pioneer Natural Resources by mid-year, despite increased government scrutiny of corporate mergers.
April 26, 2024
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