Chemical Margins News

Exxon Mobil Corp posted a $56 billion net profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year, and setting not only a company record but a historic high for the Western oil industry. Oil majors are expected to break their own annual records on high prices and soaring demand, pushing their combined take to near $200 billion. The scale has renewed criticism of the oil industry and sparked calls for more countries to levy windfall profit taxes on the companies.Exxon's results far exceeded the then-record $45.2 billion net profit it reported in 2008…

Exxon Mobil Corporation today announced estimated full-year 2014 earnings of $32.5 billion compared with $32.6 billion a year earlier, reflecting the strength of its integrated business model in a lower price environment. “ExxonMobil’s results illustrate the value of our proven business model that integrates upstream, downstream, and chemical businesses,” said Rex W. Tillerson, chairman and chief executive officer. ExxonMobil completed a record eight major Upstream projects during the year, including the Papua New Guinea liquefied natural gas project, and achieved its full-year plan to produce 4 million oil-equivalent barrels per day. Fourth quarter earnings were $6.6 billion, or $1.56 per diluted share, down from $8.4 billion in the year-ago quarter.

Exxon Corporation reported second quarter 1999 net income of $1.2 billion, down from $1.6 billion in the second quarter of 1998. Revenue for the second quarter of 1999 totaled $29.4 billion compared to $29.4 billion in the second quarter of 1998. Capital and exploration expenditures were $2.5 billion in the second quarter 1999 compared to $2.5 billion in last year's second quarter. According to the company, depressed refining margins and weaker natural gas prices drove the decline in earnings. Weaker chemical margins, lower copper and coal prices, and unfavorable foreign exchange effects also lowered earnings. With the improvement in oil prices…