Energy giants ExxonMobil and BP released their full Year and 4Q Results
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The international energy companies ExxonMobil and BP have issued press releases to publish their full Year and 4Q Results.
ExxonMobil
ExxonMobil Earns $16.2 Billion in 2015; $2.8 Billion During Fourth Quarter
- Focus remains on business fundamentals, including project execution and cost management
- Downstream and Chemical results highlight strength of integrated businesses
- Six major Upstream projects contribute to 3.2 percent volume growth
Exxon Mobil Corporation announced estimated 2015 earnings of $16.2 billion compared with $32.5 billion a year earlier. Higher Downstream and Chemical earnings were offset by sharply lower commodity prices in the Upstream.
Fourth quarter earnings were $2.8 billion, or $0.67 per diluted share, down from $6.6 billion in the fourth quarter of 2014. Lower commodity prices in the Upstream were partly offset by higher Downstream earnings.
BP
BP reports full year and 4Q 2015 results; dividend remains unchanged
BP reported its results for the full year and fourth quarter of 2015. Underlying replacement cost profit(1) for the full year was $5.9 billion, compared with $12.1 billion reported for 2014, down 51%. The underlying result for the fourth quarter was $196 million compared with $2.2 billion for the fourth quarter of 2014.
Underlying operating cash flow(2) for the fourth quarter of 2015 was $5.9 billion, bringing the total for the year to $20.3 billion, compared with $32.8 billion for 2014, down 38%.
BP took $2.6 billion in non-operating post-tax charges in the fourth quarter, primarily related to impairments of Upstream assets as well as restructuring charges for the Group. Including these charges and other offsetting effects, BP reported a replacement cost loss for the fourth quarter of 2015 of $2.2 billion.
BP also announced a dividend of 10 cents per ordinary share for the quarter, payable in March. The dividend remains unchanged.
Source: ExxonMobil, BP