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International Business Times
International Business Times
Business

Exxon, Chevron Turn Page On Legal Fight As Profits Slip

ExxonMobil CEO Darren Woods said the company is moving on from a legal dispute with Chevron and will welcome its rival as a partner in Guyana (Credit: AFP)

Lower crude prices dented profits at ExxonMobil and Chevron as the companies signaled Friday they are moving past a legal fight over an acquisition ultimately won by the latter firm.

In similar earnings reports, both companies reported second-quarter profit declines despite increased production, with both US giants pumping more from the Permian Basin, a shale-rich region in the states of Texas and New Mexico.

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