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N said on Thursday its first-quarter earnings rose over 10 percent as higher profits from its refining and chemical units outweighed lower oil and gas prices. File photo of a sign displays prices at a gas station in Washington July 27, Exxon Mobil, the world's largest publicly traded company, said on Thursday its first-quarter earnings rose as higher profits from its refineries outweighed lower crude oil prices.
The company also increased the amount of fuel processed at its refineries in the quarter. Exxon Mobil has been using a portion of the huge profits it has generated in recent years from soaring oil prices to buy back shares.
Furthermore, Exxon raised its second-quarter dividend 9. Oil prices dropped sharply at the beginning of the quarter as geopolitical tensions seemed to ease, but renewed friction with Iran as well as concerns about gasoline supplies have pushed prices back up.
The average price of U. Since the beginning of the year, Exxon Mobil shares are up 4 percent, underperforming the Chicago Board Options Exchange's oil index.
OIXwhich rose about 5.