Dow Jones Newswires: Exxon Mobil has higher gas prices to boost profits by as much as $1.1 billion

December 31, 2021

Exxon Mobil Corp.
XOM,
-0.59%
said Thursday it expects higher gas prices to add $700 million to $1.1 billion in the fourth quarter compared with the third quarter.

An increase in liquids prices will add $400 million to $800 million in the period, the company said in a filing with the Securities and Exchange Commission.

Changes in chemical margins will have a negative impact of $600 million to $800 million, and the estimated negative impact of non-cash impairments will be $500 million to $800 million, the company said.

Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com

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