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    ExxonMobil annual profit halved

    The company intends to focus on the implementation of ongoing projects and optimize costs

    Baku. 3 February. REPORT.AZ/ Fourth quarter earnings of leading US oil company ExxonMobil were 2.8 bln USD, which is 58% less than the previous year, and the annual profit fell by half -. From 32.5 bln to 16.2 bln USD. Report informs, it is said in the published statements of the company.

    "Our financial results reflect difficult market situation, said the head of ExxonMobil Rex Tillerson. 'However, we intend to focus on the fundamental things - the performance of the ongoing projects and effective cost optimization'.

    "According to company statements, low prices of raw materials had serious impact on the results of the mining and chemical operations. Income from mining operations in the US decreased by 2 bln USD compared to the fourth quarter of 2014 and resulted in a net loss of 538 mln USD. Proceeds from production outside the US totaled 1.4 bln, which is by 2.6 bln USD less than a year earlier.

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