ExxonMobil earnings plunge 47.5% to US$4.2b

ExxonMobil reported a big drop in third-quarter earnings Friday as lower oil and gas prices weighed on its exploration and production business.

PHOTO: AFP

OCT 30, 20158:51 PM

[NEW YORK] ExxonMobil reported a big drop in third-quarter earnings Friday as lower oil and gas prices weighed on its exploration and production business.

Earnings fell 47.5 per cent to US$4.2 billion, with profits from the upstream division that finds and produces oil sinking to just US$1.4 billion from US$5.1 billion in the year-ago period.

AFP