Join The Discussion

 

Fort Worth's new thoroughfare plan aims for more variety in street design

Fort Worth is launching a review of its master thoroughfare plan aimed at accommodating continued suburban growth and central city redevelopment with a greater variety of streets and more efficient traffic flow.

read more >

Holt Hickman, businessman who helped preserve Stockyards, dies at 82

Longtime Fort Worth businessman, philanthropist and preservationist Holt Hickman died Nov. 15, 2014, at the age of 82.

read more >

UPDATE: Could American Airlines move its headquarters?

A key linchpin in the Fort Worth economy, American Airlines Group Inc., is considering sites for a new headquarters, possibly outside the city, the airline’s CEO said this morning.

read more >

Crestwood area hoping to block planned office building

Residents of West Fort Worth’s Crestwood Association are trying to block the rezoning of a small apartment complex at White Settlement Road and North Bailey Avenue to make way for a planned office building, saying it would represent the start of commercial encroachment into their neighborhood.

read more >

Tiger Woods takes a swing at Fort Worth's Dan Jenkins - in print anyway

Rarely does Golf Digest make the news. Leave it to Dan Jenkins to change that.

read more >

Exxon Mobil's 3Q profit falls 18 percent
 
DAVID KOENIG, AP Business Writer
 
DALLAS (AP) — Exxon Mobil Corp.'s quarterly profit fell 18 percent from last year, but the Irving-based oil and gas giant still made nearly $8 billion in three months.
 
Production increased slightly, but Exxon made significantly less money at refining.
 
Exxon, the biggest U.S. oil and gas company, said Thursday that third-quarter net income was $7.87 billion, or $1.79 per share. That compared with $9.57 billion, or $2.09 per share, a year earlier. Revenue dipped 2 percent to $112.37 billion.
 
It was Exxon's second-smallest quarterly profit since mid-2010, beating only this year's second-quarter earnings of $6.86 billion. Still, the results exceeded expectations. Analysts forecast profit of $1.77 per share on revenue of $107.39 billion, according to a FactSet survey.
 
Earnings at Exxon's so-called upstream business of finding and drilling for oil and gas improved, rising $740 million to $6.7 billion. Production increased 1.5 percent because of new projects and fewer maintenance interruptions.
 
But profits plunged in the "downstream" business of refining oil and selling the finished products such as gasoline and diesel fuel. That segment earned $592 million, down $2.6 billion from its record third quarter of 2012. Exxon said overcapacity in the refining industry has cut into margins.
 
Profit from making chemicals rose $235 million to more than $1 billion.
 
Exxon has been criticized for slow growth or even declines in oil and gas production. New projects take years to develop. At the same time, oil and gas flows at slower rates in maturing fields. The company has several huge projects in the works, but their payoff isn't expected until 2015 and beyond.
 
The company increased capital and exploration spending by 15 percent compared with a year earlier. Chairman and CEO Rex Tillerson said Exxon was making progress at tapping opportunities.
 
"We maintain a long-term perspective on our business with a relentless focus on operational excellence and disciplined investing," Tillerson said in a statement.
 
The company also spent $3 billion buying back 34 million shares during the third quarter, and expects similar spending in the fourth quarter.
 
Shares of the company rose 68 cents to $89.49 in trading before the opening bell. At Wednesday's closing price, they were up less than 3 percent this year.
 
 

< back

Email   email
hide
Midterms
What was the message of the midterm elections?