ExxonMobil Profits Double to $15.4 Billion

4 billion in third-quarter profit Friday, more than double its earnings a year earlier, with its Gulf Coast refineries running at full capacity and diesel prices doing the rest. 08 estimate. 5 billion, making it one of Exxon's most profitable quarters ever. 1 billion in the second quarter. S. Gulf Coast refinery units operated at 100% utilization, producing their second-highest diesel volumes on record.

The Iran war and Ukrainian attacks on Russian refineries have sidelined roughly 10% of global refining capacity, leaving the remaining plants to supply a market desperately short of diesel and other fuels. Refining margins have soared, and Exxon is certainly making the most of them. The company has also increased the amount of fuel it can produce.