Exxon Mobil has announced first-quarter 2023 earnings of $11.4 billion, or $2.79 per share assuming dilution. Results included unfavorable identified items of approximately $200 million associated with additional European taxes on the energy sector. Capital and exploration expenditures were $6.4 billion, on track to meet the company's full year guidance of $23 billion to $25 billion.
- Delivered record first quarter earnings of $11.4 billion, demonstrating structural earnings improvements through growth of advantaged assets, mix improvements, and cost and execution efficiencies
- Increased oil and gas net production by nearly 300,000 oil-equivalent barrels per day versus first-quarter 2022, excluding divestments, entitlements, and Sakhalin-1 expropriation
- Started up the Beaumont Refinery expansion and reached full capacity of 250,000 barrels of production per day to help meet global demand
- Announced final investment decision for the Uaru offshore development and two new discoveries in Guyana
- Grew Low Carbon Solutions business with the execution of a new long-term customer contract for carbon capture, transportation, and storage
'Our people's hard work to execute on our strategic priorities delivered a record first quarter following a record year,' said Darren Woods, chairman and chief executive officer.
'We are growing value by increasing production from our advantaged assets to meet global demand. At the same time, our Low Carbon Solutions team is rapidly growing this new business with an additional carbon capture, transportation and storage agreement that underscores the company's growing momentum in providing industrial customers with large-scale emission reduction solutions.'
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Source: ExxonMobil
