Exxon sees oil, gas prices taking some of the shine of its Q1 earnings

Exxon Mobil Corp. XOM said in a filing Tuesday that it expects oil prices in the first quarter to knock between $600 million and $1 billion out of its upstream earnings in the quarter as compared with the fourth quarter, and gas prices to dial down upstream earnings by between $400 million and $800 million, among other impacts. The energy giant detailed oil- and gas-prices effects ahead of its first-quarter earnings scheduled for late April.

The energy giant detailed oil- and gas-prices effects ahead of its first-quarter earnings scheduled for late April. Other changes, such as seasonal gas demand and scheduled maintenance, will have smaller negative impacts in upstream and other segments, Exxon said. Exxon earned $12.8 billion in the fourth quarter, including $8.2 billion from its upstream segment. Exxon shares edged higher in the extended session Tuesday, after ending the regular trading day down 1%.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Exxon says its decarbonization business could outgrow oil, in multi-trillion marketExxon Mobil Corp's Low Carbon business has the potential to generate hundreds of billions of dollars in revenue and outperform the company's traditional oil and gas as soon as a decade from now, CEO Darren Woods said.
Source: Reuters - 🏆 2. / 97 Read more »