Increased Output And Higher Prices Boost Exxon Profits

US major ExxonMobil has reported a positive set of Q3 results, posting net income of US$10.5bn, the second highest level on record for any quarter. Excluding a US$1.62bn gain last year from the sale of a pipeline business, this is a rise in profits of 26%. Earnings of US$1.77 per share, 34% higher y-o-y, beat Bloomberg analyst estimates by 18 cents and reflect the company's share buyback strategy. In a similar trend to that seen in the Q3 results of other international oil companies (IOCs) Anglo-Dutch major Royal Dutch Shell and British major BP, higher crude and gas realisations and

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