Exxon Mobil’s third quarter profit down compared with last year’s record figure

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Exxon Mobil’s third quarter profit down compared with last year’s record figure
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Net income was also up 15% compared with the previous quarter.

Exxon Mobil’s third quarter profit has declined compared with last year when the oil giant put up record numbers due to soaring crude prices – but net income was up 15% compared with the previous quarter.Lofty crude prices have fuelled a shopping spree this year as Exxon acquired pipeline operator Denbury, the beneficiary of changes in US climate policy, for 4.9 billion dollars in July, and then a few weeks ago said it would buy Pioneer for 60 billion dollars .

Revenue slipped to 90.76 billion dollars from 112.07 billion dollars , but still topped Wall Street’s estimate of 89.29 billion dollars .Exxon said it delivered its best ever third-quarter global refinery throughput at 4.2 million barrels per day. Chevron is buying Hess for 53 billion dollars – and it is not even the biggest acquisition in the energy sector this month

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