Second quarter profits doubled at US oil major ExxonMobil on the back of improved oil and gas sales figures and refining margins.
The Texan giant booked earnings of $3.4billion (£2.6billion) despite a 1% decline in oil production during the three months.
The company produced 3.9million barrels of oil equivalent per day over the three months.
Upstream earnings totalled £917million for the quarter, up £680million year-on-year.
The company has interests in about 40 North Sea fields.
ExxonMobil cut capital and exploration spending by 24% to £2.9billion.
The company chalked up total second quarter revenues of £48billion, a 9% increase year-on-year.
Pre-tax income came to £3.2billion, against £1.8billion a year earlier.
Second quarter highlights included a final investment decision on the Liza development offshore Guyana, where production is expected to begin in 2020.
Liza will add up to 120,000 barrels of oil per day to ExxonMobil’s production.
The company also towed the huge platform from a yard in Newfoundland to the Hebron field 220 miles off Canada.
ExxonMobil chief executive Darren Woods: “These solid results across our businesses were driven by higher commodity prices and a continued focus on operations and business fundamentals
“Our job is to grow long-term value by investing in our integrated portfolio of opportunities that succeed regardless of market conditions.”
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