WASHINGTON (Sputnik) — ExxonMobil announced estimated second quarter earnings of $3.4 billion, compared with $1.7 billion for the same period in 2016.
Last week, the US Treasury Department fined Exxon $2 million, alleging the company violated sanctions by signing a 2014 deal with the Russian oil company Rosneft. Exxon said it will challenge the decision.
"These solid results across our businesses were driven by higher commodity prices and a continued focus on operations and business fundamental," Woods stated.
The company also reported $7.1 billion in cash flow from operations and asset sales, and $3.9 billion in capital and exploration expenditures, down 24 percent from the second quarter of 2016.
ExxonMobil’s oil-equivalent production fell 1 percent from the previous year to 3.9 billion barrels per day, according to the report.
