In quarter 1, 2014 the US biggest oil and gas company Exxon Mobil Corp reduced net profit by 4%, because of reduction of production. The company reported from January to March 2014 its net profit totaled $9.1 billion or $2.1 per share against $9.5 billion or $2.12 per share during the same period last year.
The profit dropped to $106,773 billion against $108,357 billion a year earlier.
In quarter 1, 2014 ExxonMobil reduced production by 5.6% to 4,151,000 barrels of oil equivalent a day from 4,395,000 barrels a day during the same period in 2013, reported the company’s press office. Oil and gas condensate production totaled 2,148,000 barrels a day against 2,193,000 barrels a day a year earlier. Natural gas production dropped to 12,016,000,000 cub.feet a day against 13,213,000,000 cub. feet a day.
In quarter 1, 2014 the total volume of capital costs and the company’s expenses for the exploration works decreased by 28% to $8.4 billion. In last quarter ExxonMobil redeemed its own shares worth $3 billion.
During quarter 1, 2014 dividends will total $0.63 per share, up 11% against the same period last year.
