ExxonMobil performs above expectations

For 2021, the US oil giant posts its highest profit in almost eight years.

BY MARKETWIRE, TRANSLATED BY CHRISTOFFER ØSTERGAARD

ExxonMobil has posted its highest profit in close to eight years, with aggressive cost savings helping the US oil giant to fully capitalize on the surging oil prices.

The share is indicated at 1.0 percent higher in the US pre-market.

Total sales and other income landed at USD 84.97bn, which is considerably above analyst consensus compiled by Bloomberg News of USD 74.67bn.

Adjusted profit per share landed at USD 2.05, above analysts' expectations of USD 1.93.

ExxonMobil's daily oil output of 3.82 million barrels is also above analyst prognosis of 3.74 million barrels. Gas recovery and refinery production also performed better than expected.

The energy giant narrows its prognosis for capital expenditure in 2022 to USD 21-24bn from previous expectations of USD 20-25bn.

Political tensions and tight supply buoy oil prices

ExxonMobil to combine divisions and change headquarters

ExxonMobil targets climate neutrality in 2050

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