ExxonMobil Record Massive Gains


Oil and gas giant ExxonMobil has reported full-year earnings of US$32.5 billion for 2014, compared with $32.6 billion in 2013.

According to LNG World News, the company said it had completed a record number of eight major upstream projects during 2014, including the Papua New Guinea LNG project.

The company also achieved its full-year plan to produce four million oil-equivalent barrels per day.

Lower commodity prices in the upstream and higher planned maintenance costs in the downstream were partially offset by improved chemical margins.

During 2014, the corporation distributed dividends worth around $23.6 billion to shareholders, as well as share purchases to reduce shares outstanding.

This resulted in a total shareholder distribution yield of 5.4%.

(Source: Business Wire)

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