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ExxonMobil’s Profit Nearly Doubles

ExxonMobil Corp. (NYSE: XOM), the world’s largest publicly traded oil producer, said on July 28 its quarterly profit nearly doubled on surging margins at its operations outside the U.S., but results fell shy of Wall Street’s expectations.

Shares of Irving, Texas-based Exxon fell about 1.9% in premarket trading to $79.30.

While ExxonMobil’s U.S. portfolio, including its shale projects, lost money, the company’s gas and oil operations across the world posted a 69% jump in profit.

The company sold more gasoline and kerosene in the quarter, boosting the bottom line as well, but sales of chemicals slipped due in part to plant maintenance costs and weak margins.

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