Anticipating greater second-half spending on projects where Guyana is integral, ExxonMobil yesterday said that higher prices for crude oil coupled with continued low production costs will ensure sound returns on investments.
“Also of significance in the quarter was the continuing market recovery, which obviously underpins our results. As you will hear, the organization remains very focused on continuing to leverage the changes we’ve implemented over the last several years and on delivering the plans we’ve discussed with you in March,” ExxonMobil’s Chairman and Chief Executive Officer Darren Woods yesterday told the company’s second quarter (Q2) Earnings Call.
“Earnings, excluding identified items, were (US)$4.7 billion, an increase of approximately (US)$2 billion versus the first quarter, primarily due to higher prices or margins and strong reliability…,” Vice President of Investor Relations Stephen Littleton noted during the call.
