Exxon Mobil's profit more than doubled in the first quarter as the oil and natural gas company overcame declining prices by producing more oil.
An Exxon gas station in Upper Darby, Pa., Tuesday, April 26, 2022. Exxon Mobil reports their earnings on Friday, April 28, 2023.
Exxon Mobil more than doubled its profit during the first quarter, producing more oil to overcome energy prices that have declined during a period ofThe nation’s second-largest oil company, Chevron, also beat expectations, but did so more through its refining operations. A month after the invasion of Ukraine began Exxon said that it would pull out of Russia, where it valued its operations in excess of $4 billion, and cut off new investment in the country. In October, the company said its operations had been expropriated by Moscow after it had tried to wind them down in an orderly fashion,
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