Exxon Mobil Corp on Monday said its first-quarter results could top a seven-year quarterly record, with operating profits from pumping oil and gas alone of up to $9.3 billion.
Highlights
- Exxon Mobil Corp on Monday said its first-quarter results could top a seven-year quarterly record.
- Operating profits from pumping oil and gas alone of up to $9.3 billion.
- Russia’s invasion of Ukraine pushed up oil by 45% last quarter over the final period of 2021, to an average of $114 per barrel, the highest in seven years.
- Official results are expected to be released on April 29, according to a securities filing.
- Results could be dampened by impairments to Exxon’s Russian operations, which company last month said it would phase out of Russia following the invasion of Russia.
- The oil company has $4 billion in assets at risk to potential seizure and faces a 1% to 2%