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Exxon and Chevron’s $26.5 Billion Quarter Draws Trump’s Ire
['Julianne Geiger', 'Julianne Geiger Is A Veteran Energy Journalist', 'Market Analyst With More Than A Decade Of Experience Covering The Global Oil', 'Gas Sector. Her', 'More Info']
Oilprice.com
ExxonMobil and Chevron made a combined $26.5 billion in the second quarter after producing more oil, refining more fuel, and selling all of it into a market scrambled by war.
Chevron reported record net income of $12.2 billion, nearly five times its year-ago profit.
Exxon earned $14.5 billion, double what it made during the same quarter last year and its best result since oil prices soared following Russia’s invasion of Ukraine.
Chevron’s refining profit jumped to $4.9 billion from $737 million a year earlier.
Exxon’s refining business earned $5.5 billion after losing $1.3 billion in the first quarter.