Nigeria: ExxonMobil Profits Take Tumble

4 November 2013

ExxonMobil saw its third-quarter earnings tumble by 18 per cent on weaker refinery margins as it boosted capital expenditure.

The US supermajor reported net income of $7.87 billion, versus $9.57 billion a year earlier, as total revenue fell 2 per cent year on year to $112.34 billion while capital and exploration expenditure increased 15 per cent to $10.5 billion in line with spending plans.

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