ExxonMobil (XOM.US) Q3 refining profits hit record high, increases stake in Mozambique LNG project

Zhitong Finance APP has learned that ExxonMobil (XOM.US) reported third-quarter profit that exceeded market expectations, with record earnings in its refining business as the main driver. As the Middle East conflict and Ukraine's attacks on Russia's fuel infrastructure disrupt global energy supply, rising gasoline and diesel prices have significantly boosted refining margins, also highlighting the advantages of the company's earlier investments in refining capacity along the U.S. Gulf Coast.