Search League Tables

Tuesday, 02 September 2014

Exxon diversification masks ailing production

Oil leak

A doubling of refining earnings helped the U.S. energy giant to a $9.6 bln Q3 profit - and a smaller decline from 2011 than pure explorers like Conoco. Exxon’s portfolio can be justified if different units smooth earnings. But in this case it’s hiding a losing bet on U.S. gas.



This content is for Subscribers only

To access full Breakingviews.com content you must be a subscriber. Please use the following link to request a trial.

Sign In

(Launches in a new window)