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Wrapping Up The Decade - Q419 Financials Of Oil Majors


  • For ExxonMobil, revenue and net profits were both down by 5%, with the company blaming the ‘tough environment' and depressed margins for its oil, gas, refining and chemicals businesses that will spill into 2020.
  • Although the French company was also affected by slumping natural gas prices, along with strikes at its French refineries, record production boosted net profits to US$3.17 billion, almost unchanged y-o-y.
  • The ramp-up of key natural gas projects, Yamal in Russia and Ichthys in Australia, along with the start of the Egina and Kaombo crude oil projects in West Africa, raised upstream output by 9% over a quarter where all other rivals saw their production decline.



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