ExxonMobil Corp., whose international portfolio more often than not has fortified it from the ups and downs of the volatile commodities market, failed to outrun global uncertainty and lower U.S. natural gas prices in the third quarter, with profits off 7% year/year to $9.6 billion, $750 million less than a year ago. Production also declined to its lowest level in three years.
Outrun
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ExxonMobil Profits, Output Slip, But Portfolio Additions Continue
ExxonMobil Corp., whose international portfolio more often than not has fortified it from the ups and downs of the volatile commodities market, failed to outrun global uncertainty and lower U.S. natural gas prices in the third quarter, with profits off 7% year/year to $9.6 billion, $750 million less than a year ago. Production also declined to its lowest level in three years.
November 2, 2012