ExxonMobil earns $11.4 billion in first quarter of 2023
Leading energy company, Exxon Mobil Corporation today announced that it earned $11.4 billion which is $2.79 per share assuming dilution in its first-quarter 2023 report.
The company disclosed this in a recent press release on its official website, stating also that the earnings demonstrate structural earnings improvements through growth of advantaged assets, mix improvements, and cost and execution efficiencies.
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According to the company, the results included unfavorable identified items of approximately $200 million associated with additional European taxes on the energy sector. Capital and exploration expenditures were $6.4 billion, on track to meet the company’s full year guidance of $23 billion to $25 billion.
ExxonMobil Increased its oil and gas net production by nearly 300,000 oil-equivalent barrels per day versus first-quarter 2022, excluding divestments, entitlements, and Sakhalin-1 expropriation.
The Beaumont Refinery expansion started up by the company has reached full capacity of 250,000 barrels of production per day, this it said, will help meet global demand.
Just recently, the company announced final investment decision for the Uaru offshore development and two new discoveries in Guyana.
To keep pace with the energy transition wave, ExxonMobil grew Low Carbon Solutions business with the execution of a new long-term customer contract for carbon capture, transportation, and storage.
