Exxon Defies Low Oil Price With Refining Strength

NEW YORK (AP) — ExxonMobil Corp.'s refining and chemical operations rescued the company's third quarter results amid falling global oil prices and lower oil and gas production. Exxon's oil and gas production fell 4.7 percent compared with the same period a year ago, driven mostly by lower natural gas production and the expiration earlier this year of Exxon's rights to production at a field in Abu Dhabi. [...] low oil and gas prices make for low raw material costs — and higher profit — for refining and chemical operations, which turn oil and gas into fuels and chemicals.

Topics:  york ap     exxonmobil   corp   exxon   dhabi   refining   oil price   gas   production   year   chemical   operations   prices   
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