ExxonMobil reported a net profit of $8.2 billion for the first quarter of 2025, maintaining the same level of earnings as the corresponding period in 2024.
The stable performance comes despite lower natural gas prices and weaker industry margins.
In its official release, the energy giant said results were supported by record first-quarter production volumes, particularly from its developments in Guyana and the Permian Basin, along with continued structural cost savings.
According to the Chairman and CEO, Darren Woods, the consistent execution and capital discipline continue to drive strong results and industry-leading performance.
“We are making excellent progress integrating recent acquisitions and leveraging our scale to grow value across our portfolio,” he added.
The company’s Upstream segment delivered earnings of $5.7 billion, as higher production volumes helped offset the impact of lower natural gas prices and planned maintenance. Total net production rose by 20% year-over-year, reaching 4.6 million oil-equivalent barrels per day, marking the highest level in over a decade.
Notably, operations in Guyana surpassed 600,000 barrels per day, while Permian production exceeded 900,000 barrels per day both contributing significantly to the quarter’s strong output.
Earnings from the Downstream segment totaled $1.1 billion, impacted by weaker industry margins and higher turnaround activity, while the Chemical Products segment earned $785 million, driven by improved performance and lower feed costs.
The Specialty Products segment contributed $671 million, maintaining stable results despite a slower recovery in demand.
In Q1, ExxonMobil returned $6.8 billion to shareholders through $3.8 billion in dividends and $3 billion in share repurchases. The company also reported cumulative structural cost savings of $10.1 billion compared to 2019 levels.
Looking ahead, the company remains focused on integrating its recent acquisition of Pioneer Natural Resources, which is expected to enhance production and cost efficiencies further in the Permian Basin.
Shahriena Shukri is a journalist covering business and economic news in Malaysia, providing insights on market trends, corporate developments, and financial policies. More about Shahriena Shukri.
