US energy giant ExxonMobil has reported a 14% jump in quarterly net profits to a record $11.68 billion, though the results were below most Wall Street forecasts.
The second-quarter earnings amounted to $2.27 per share compared with an average forecast of $2.52 for the largest US oil and gas firm.
Revenues surged 40% from the same period a year ago to $138 billion, lifted by record high crude oil prices.
Chairman Rex Tillerson said, however, that record oil and gas prices 'were partly offset by lower refining and chemical margins, lower production volumes and higher operating costs'.
The company set aside $290 to cover maximum punitive damages set by the recent US Supreme Court ruling in the Exxon Valdez oil spill case.
