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ExxonMobil profits fall as oil and gas output dips

US oil giant ExxonMobil Thursday reported a drop in quarterly earnings due to lower oil and gas production and much weaker results in refining, especially outside the US. ExxonMobil, the biggest US oil company, said fourth-quarter earnings came in at $8.4 billion on revenues of $110.9 billion, down 16.1 percent from the year-ago level of $10 billion on $114.7 billion. The results translated into per-share earnings of $1.91, a penny shy of analyst expectations.

Worker injured during Exxon Baytown gofiner overhaul: sources

HOUSTON (Reuters) - A worker was injured on Wednesday after falling into a reactor while performing an overhaul on a shut gofiner unit at Exxon Mobil Corp's 560,500 barrel per day (bpd) refinery in Baytown, Texas, according to sources familiar with operations at the refinery. The worker, who is employed by a contractor hired by Exxon to overhaul the gofiner, sustained a knee injury and might have been further harmed by the high pressure maintained inside the reactor, the sources said. The worker was flown to a Houston hospital for evaluation.

Exxon stock zeroes in on $100 per share as rally stretches

HOUSTON (Reuters) - Exxon Mobil Corp <XOM.N> stock on Wednesday neared $100 per share, the continuation of a rally fueled by investor expectations that the world's largest publicly traded oil company would return more cash to shareholders in coming months. "They maintained the quarterly share buyback after two quarters of reductions," said John White, analyst at Houston-based oil and gas investment firm Triple Double Advisors. "That's giving investors some confidence about bigger buybacks."

Chevron sets 2014 budget at $39.8 billion

(Reuters) - Chevron Corp <CVX.N> plans to spend $39.8 billion on projects and exploration in 2014, the second-largest U.S. oil company said on Wednesday, as it finishes work on huge developments in Australia and the Gulf of Mexico. Investors are putting increased pressure on the world's biggest oil companies to rein in spending and return more money to shareholders - a trend Royal Dutch Shell Plc <RDSa.L> recently warned against because it may create oil shortages in the future.

Chevron earnings hurt by refining; output below target

(Reuters) - Refining weakness led to a surprise decline in Chevron Corp's <CVX.N> quarterly profit, and oil and gas well output increased but remained below target, sending the company's shares down 2 percent. Capital spending is running ahead of budget, while production is short of expectations due to a slow ramp-up of gas exports from Angola and damage to a customer's gas facility in Thailand from a lightning strike, the No. 2 U.S. oil company said on Friday.

Exxon Mobil's third-quarter profit falls 18 per cent but still totals $7.9 billion

DALLAS - Exxon Mobil Corp. earned nearly $8 billion in the third quarter, but that was down 18 per cent as the company made a lot less money refining oil into fuel. Although Exxon increased oil and gas production slightly, it wasn't enough to offset weakness in refining, which also hurt results at other major oil companies. Refining margins have collapsed this year. An easing of transportation bottlenecks has boosted the price of some North American crude oil. Meanwhile, gasoline prices have fallen because of ample supply and moderate demand.

Exxon's output rises but refining weakness hits profit

By Anna Driver (Reuters) - Exxon Mobil Corp <XOM.N>, the world's largest publicly traded oil company, reported higher-than-expected quarterly results on Thursday as output rose for the first time in more than two years, but refining weakness hurt earnings. Exxon and other large oil companies struggling to boost production in recent years have spent heavily on new projects. In the first nine months of this year, Exxon alone spent $33 billion.

Exxon profits down 18 percent on weak refining margins

US oil giant ExxonMobil reported an 18 percent decline in quarterly profits Thursday due to weaker refining earnings, but results bested expectations as oil and gas output stabilized. Exxon, the largest US oil company, said third-quarter profits were $7.9 billion on revenues of $112.4 billion, down from $9.6 billion on revenues of $115.1 billion in the year-ago period. Those results translated into earnings per share of $1.79, two cents above analyst estimates. Revenues bested expectations by about $5 billion.

New Hampshire contests judge's order to put $195M of Exxon pollution award in trust fund

CONCORD, N.H. - New Hampshire's attorney general is appealing a trial court order that would place most of the state's record $236 million verdict against Exxon Mobil in a groundwater contamination case into a trust fund. A jury in April held Exxon liable for the state's costs to test groundwater in private wells and other drinking water sources over the coming decades and remove contamination by the gasoline additive MTBE.

Exxon shareholders reject ban on discrimination against gays, climate change proposal

DALLAS - The CEO of Exxon Mobil Corp. says there's no quick replacement for oil, and sharply cutting oil's use to reduce greenhouse gas emissions would make it harder to lift 2 billion people out of poverty. "What good is it to save the planet if humanity suffers?" CEO Rex Tillerson said at the oil giant's annual meeting Wednesday. Tillerson jousted with environmental activists who proposed that the company set goals to reduce emissions from its products and operations. Shareholders sided with the company and voted nearly 3-to-1 to reject the proposal.
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