ExxonMobil reports a 31% drop in its net profit, to 14.340 billion dollars

The US oil company ExxonMobil posted a net attributable profit of $ 14.340 billion in 2019, which is equivalent to a 31% decrease compared to the profits obtained the previous year, the company reported Friday.

The turnover of the firm in the 12 months contracted 8.7%, reaching 264.938 billion dollars. On the other hand, the company’s expenses during the year were 244.882 billion dollars, 5.5% less.

The company has explained that the fall in profits and billing is justified by a decrease in the prices of crude oil and its derivatives, as well as by an increase in capital investment, although it has been partially offset by the types of favorable change and “unconventional” growth in certain products.

“Our operations performed well, although the short-term supply in the downstream and chemical businesses impacted the margins and financial results,” said the president and CEO of the company, Darren Woods.

Between October and December, the net attributable profit of Exxon was 5.690 billion dollars, 5% less than in the fourth quarter of 2018, after a decrease of 6.6% in revenues, to 67.173 billion dollars.

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