ExxonMobil expects Q4 boost from higher natural gas
US supermajor ExxonMobil said December 30 it expects higher global natural gas prices could boost its Q4 2021 earnings by as much a $1.1bn, with higher crude prices contributing up to another $800mn in earnings.
In a filing with the US Securities and Exchange Commission, the company said market factors – including higher commodity prices, reduced chemical and refining margins and changes in settled derivatives – could increase Q4 earnings to $8.8bn from $6.8bn in Q3.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
Seasonal factors – changes to scheduled maintenance and seasonal gas demand – identified items and inventory accumulations and drawdowns could blunt earnings by about $200mn, ExxonMobil said.
It expects to release its Q4 financial report on February 1.