EXXONMOBIL said yesterday it had achieved solid first-quarter 2009 results despite the slowdown in the global marketplace and sharply lower commodity prices.
Its first-quarter earnings were £3.11billion, down 58% year-on-year.
Chairman Rex Tillerson said in the first quarter, capital and exploration project spending rose to £3.92billion, up 5% from last year.
Exxon added that oil-equivalent production of 4.2million barrels per day was up slightly from the first quarter of 2008.
Meanwhile, Apache, which operates the Forties oil field, reported net losses of £1.19billion for the first quarter compared with income of £689million a year earlier.
It produced 548,279 barrels of oil equivalent per day (boepd) during the period, down 2% year-on-year.
Also reporting first-quarter results was Marathon Oil, which has operations in the North Sea.
It said net income was £190.54million, compared with £493.92million the year before, while production averaged 429,000boepd, versus 375,000boepd in 2007