US oil giant ExxonMobil posted a record quarterly profit for the three months ended September, thanks to a strong rise in global prices.
The company said in a statement that it made $19.7 billion, up $4 billion more than analysts expected and roughly equivalent to Apple’s earnings. British newspaper The Guardian.
Exxon’s third-quarter earnings surpassed the previous record of $17.9 billion set the previous quarter as it became the latest major oil company to achieve such a huge profit.
The results came after US oil company Chevron posted a quarterly profit of $11.2 billion, its second-highest earnings ever, as it also beat analysts’ previous estimates.
The two largest US oil companies (Exxon and Chevron) together made over $30 billion in three months.
In general, oil companies have achieved record profits in recent months thanks to rising oil prices.
On Thursday, Britain’s Shell reported a $9.5 billion profit for the same period, while France’s Total Energies posted a $10 billion profit.
Source: British newspaper The Guardian + “Satellite”