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International Business Times
International Business Times
Business
AFP News

ExxonMobil Profits Up After Pioneer Deal, Chevron Earnings Dip

ExxonMobil pointed to a lift in output from the Permian Basin following the Pioneer deal as contributing to its higher profits (Credit: AFP)

US oil and gas giant ExxonMobil reported higher profits Friday as it pointed to the benefits of its acquisition of Pioneer Natural Resources, while earnings at rival Chevron dipped on lower refining results.

ExxonMobil rode the contribution from Pioneer, a big player in the Permian Basin in Texas and New Mexico, to record oil and gas output during the quarter.

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