ExxonMobil earnings rise nine per cent in 2012

exxonExxonMobil saw a nine per cent (US$3.82bn) in earnings to US$44.88bn for the year ended 31 December 2012

Fourth quarter year-on-year earnings also rose six per cent from US$9.4bn in 2011 to US$9.95bn in 2012.

Gains from asset sales in Q4 2012 amounted to nearly US$600mn, while capital and exploration expenditures were also up by 24 per cent (US$12.4bn) on Q4 2011.

Rex Tillerson, chairman of ExxonMobil, said, “Capital and exploration expenditures were a record $39.8bn in 2012 as we continue pursuing opportunities to find and produce new supplies of oil and natural gas to meet global demand for energy.”

Cash flow from operations and asset sales was US$14bn, including proceeds associated with asset sales of US$800mn.

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