Exxon And Chevron Post Blockbuster Earnings As Oil Prices Soar ...Middle East

U.S. supermajors ExxonMobil and Chevron reported on Friday strong earnings for the first quarter as oil and gas prices surged after Russia invaded Ukraine. ExxonMobil (NYSE: XOM) doubled its earnings to $5.5 billion for Q1 compared to the same period of last year, despite a $3.4 billion after-tax charge related to its decision to exit the Russia Sakhalin-1 project. Still, Exxon’s earnings per share, excluding identified items of $2.07, missed the consensus estimate in The Wall Street Journal of $2.23. Earnings excluding identified items stood…

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