Despite the cost of cutting operations in Russia, Irving-based Exxon Mobil doubled its year-to-year quarterly profit, with nearly $5.5 billion in net income.
Both Exxon Mobil and Chevron reported surging profit at a time when gas prices are going up again.
The price increase comes on the heels of the two largest U.S. companies, Exxon Mobil and Chevron, reporting billions in profits. The two companies said they were increasing their oil and natural gas production in the U.S., but not to the extent that the Biden Administration had hoped, which would help lower high energy prices.
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