Exxon banked record quarterly profit as energy prices soared

Exxon Mobil was swimming in profits the last few months, reporting Friday that it brought in a record $17.85 in net income during the second quarter, a period in which Americans struggled with painfully high prices at the pump.

The Irving, Texas, company increased its oil and gas production as crude prices hovered above $100 a barrel.

Revenue skyrocketed to $115.68 billion in revenue, up from $67.74 billion during the same quarter last year.

Natural gas and liquefied natural gas prices are also elevated due to Russia’s invasion of Ukraine and ensuing sanctions against Russia, a major supplier of natural

Disclaimer: This article may require a subscription.

Leave a Comment

en_USEnglish