Exxon, Chevron Profits Surged Ahead of Megadeals
Posted on AllSides October 27th, 2023
From The Center
ERIC RISBERG/ASSOCIATED PRESS
On the heels of competing megadeals,
Exxon Mobil and Chevron reported a combined $15.6 billion in profits Friday, as oil and fuel prices climbed in the third quarter.
Exxon’s quarterly earnings of $9.1 billion were less than half of last year’s quarterly record but rose 15% from the previous quarter. Margins for making fuel widened and the company’s oil refineries produced more than any third quarter since 1999.
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