ExxonMobil's Profits Surpass Expectations Against the Trend: Investment Discipline Prevails Over Political Maneuvering

Glonghui, January 30｜Thanks to increased crude oil production and improved refining margins, ExxonMobil's profits exceeded expectations, successfully offsetting the impact of falling crude oil prices. Adjusted net profit for the fourth quarter was $1.71 per share, 2 cents higher than the average forecast in the survey. As the company expanded its oil and gas production in core areas such as the Permian Basin and Guyana, both its annual output and refining volume reached a 40-year high. Despite the optimistic outlook, due to lower oil prices, declining chemical profits, and "growth-related costs," the company's full-year profit still fell by 10% to $30.1 billions. This year's capital expenditure is expected to be about $28 billions, lower than last year's $29 billions. ExxonMobil's Golden Pass LNG export facility in Texas is expected to be commissioned early this year, while the company is also advancing a giant natural gas export project in Mozambique. These commitments may indicate that ExxonMobil does not have an urgent need to invest in Venezuela. CEO Woods stated that he is open to sending teams to the country to analyze opportunities, but any investment must be safe and meet economic standards.