ExxonMobil Reports Q2 Growth

ExxonMobil has announced quarterly profits of over $10bn, a figure it partially attributes to a 4% increase in oil production.

The company has reported a second quarter net income of $10,260m with earnings per share up 6% from the second quarter of 2006.

Second quarter natural gas production was 8,711 millions of cubic feet per day (mcfd) compared with 8,754 mcfd last year, with the impact of mature field decline and lower European demand offset by higher volumes from projects in Qatar, Canada and Malaysia.

Exxon says its lower natural gas realisations were offset by higher refining, marketing and chemical margins.

The company declared a cash dividend of 35 cents per share on Common Stock.

By staff writer