Exxon Mobil predicts lower production this year
- Photos (1)
Exxon Mobil expects production to decline by about 1 percent this year due to weaker output of natural gas.
NEW YORK — Exxon Mobil expects production to decline by about 1 percent this year due to weaker output of natural gas.
Over the next five years, however, the oil and gas giant expects production to rise by 2 percent to 3 percent per year.
The company gave the forecast Wednesday at its annual meeting with analysts.
Exxon Mobil's production fell 6 percent last year, but the company still earned $44.9 billion, barely missing its own 2008 record, thanks to higher refining margins.
CEO Rex Tillerson says global energy demand will grow 35 percent by 2040 with oil and gas accounting for more than coal, nuclear or other sources.
- Share Facebook Twitter
Article sent to (required)E-mail
Article sent from (required)E-mail Name
Subject Line (article title)
Message (optional)Success - Article sent Click to close
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.Need more information about reprints? Visit our Reprints Section for more details.
Contact information ( * required )Name * Company Telephone * E-mail *
Article InformationTitle URL
Message (optional)Success - Reprint request sent Click to close