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Published 15 days ago

US oil giants' profits dip as Exxon deal nears finish line

Summary by Inquirer
NEW YORK — ExxonMobil and Chevron both reported a dip in profits Friday on lower refining margins and natural gas prices, but ExxonMobil’s big takeover appears on track to close before Chevron’s. ExxonMobil, which had targeted the second quarter to complete a $60-billion takeover of US shale player Pioneer Natural Resources, reported profits of $8.2 billion, down 28 percent from the year-ago period. Similar results from Chevron showed how the pe…

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InquirerInquirer

US oil giants' profits dip as Exxon deal nears finish line

NEW YORK — ExxonMobil and Chevron both reported a dip in profits Friday on lower refining margins and natural gas prices, but ExxonMobil’s big takeover appears on track to close before Chevron’s. ExxonMobil, which had targeted the second quarter to complete a $60-billion takeover of US shale player Pioneer Natural Resources, reported profits of $8.2 billion, down 28 percent from the year-ago period. Similar results from Chevron showed how the pe…

15 days ago·Manila, Philippines
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