Profit Exxon per share was $ 4.68, analysts were expecting a profit of just $ 3.89 per share. Revenue increased 52 percent to $ 112.07 billion.
Exxon spent $ 5.73 billion last quarter on developing new oil and gas projects. It was 24 percent more than last year. For the full year, the company expects investments of between $ 21 and $ 24 billion.
Exxon is the largest US oil company and in 2013 was the largest publicly traded company in the US by market value. This position is now held by Apple.
Profit Chevron per share was $ 5.87, analysts expected earnings of just $ 4.86. Chevron has been helped by growing demand for oil and gas and increased production in US oil fields. The operating profit of the oil and gas extraction division increased by 81%. Profit from oil refining nearly doubled.
The Russian invasion of Ukraine brought fabulous profits to Shell and TotalEnergies
Economic
The profits of oil companies have soared this year and in the United States their profits are outstripping the tech sector as growing demand and scarce supply in the energy market collided with Western sanctions against Russia for the invasion of China. Ukraine.
Gas exports from the US to Europe are on the rise and the sector is expected to make record profits. But US oil company executives are reluctant to brag about profits this year, preferring to emphasize investment commitments as rising profits fuel criticism from consumer groups in the US and Europe about rising inflation.
