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ExxonMobil has announced thrid quarter earnings

October 31/2011

(Arabian oil and gas) -- ExxonMobil has announced thrid quarter earnings of $10.33 billion, an increase of 41% or $2,980 million from the third quarter of 2010. The company also confirmed capital and exploration expenditures for the period of $8.6 billion, roughly consistent with the third quarter of 2010. ExxonMobil's chairman Rex Tillerson said: ExxonMobils results for the third quarter of 2011 reflect a continued commitment to operational integrity, disciplined investing and superior project execution.


Third quarter earnings of $10.3 billion were up 41% from the third quarter of 2010, reflecting higher crude oil and natural gas realizations and improved refining margins. Earnings for the first nine months of 2011 were $31.7 billion, up 49% over the first nine months of 2010.


In the third quarter, capital and exploration expenditures were $8.6 billion, and reached a record level of $26.7 billion for the first nine months of the year as we continue pursuing new opportunities to meet growing energy demand while supporting economic growth, including job creation.


Oil-equivalent production decreased 4% compared to the third quarter of 2010. Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, production was in line with 2010.


The Corporation distributed over $7 billion to shareholders in the third quarter through dividends and share purchases to reduce shares outstanding.


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