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    ExxonMobil Earnings Double to $3.4Bln in Second Quarter Despite Recent Fine

    © AFP 2019 / ERIC PIERMONT
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    US energy giant ExxonMobil Corporation reported $3.4 billion in revenue for the second quarter of 2017, double its earnings in the same time last year, CEO Darren Woods said the company's earnings report released on Friday.

    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.

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