Exxon Mobile Sees Results Benefit From Upstream Liquids Prices
October 01 2020 - 8:26AM
Dow Jones News
By Matt Grossman
Exxon Mobil Corp. said Thursday it expects changes in upstream
liquids prices to help its third-quarter results by $1.4 billion to
$1.8 billion.
The Irving, Texas-based energy company said in a filing with the
Securities and Exchange Commission that other pricing and margin
changes would drag on third-quarter results, noting that its
forecasts didn't constitute a comprehensive picture of its expected
third-quarter results.
Changes in downstream refining margins will hurt third-quarter
results by $200 million to $600 million, Exxon Mobil said, while
changes in gas prices will hurt results by $100 million to $500
million.
Changes in mark-to-market derivative impacts are likely to help
improve third-quarter results by up to $400 million, Exxon Mobil
said.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
October 01, 2020 08:11 ET (12:11 GMT)
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