Exxon Loses 6% Output in Q1, Sees $2.1–$2.9B Earnings Gain
Exxon Mobil lost 6% of global output in Q1 as LNG operations in the Persian Gulf were disrupted by the Iran war. The company forecasts a $2.1–$2.9 billion Q1 earnings lift from $113/barrel oil and plans spring and year-end overhauls at its 612,000 bpd Beaumont refinery.
1. Q1 Production Disruption
Exxon Mobil lost about 6% of its global output in the first quarter as liquefied natural gas operations in the Persian Gulf were paralyzed by the ongoing Iran war, restricting facility access and delaying damage assessments.
2. Earnings Impact from Oil Price Surge
With benchmark oil trading near $113 per barrel, Exxon projects a $2.1–$2.9 billion boost to first-quarter earnings, reflecting strong margin conditions despite operational setbacks.
3. Beaumont Refinery Overhaul Plans
The company has scheduled two major maintenance turnarounds at its 612,000 barrel-per-day Beaumont, Texas refinery—one this spring and a second at year-end—which will introduce planned downtime for equipment upgrades and inspections.