ExxonMobil has reported a year-over-year decline in net income for the fourth quarter of 2025 due to weaker crude prices, higher depreciation and lower interest income.
The oil major reported fourth-quarter 2025 earnings of US$6.5 billion, or US$1.53 per share, down 14.6 per cent year over year from US$7.6 billion, or US$1.72 per share.
Revenue for the quarter came in at US$80 billion, down from US$81.1 billion in the fourth quarter of 2024.
For the full-year 2025, the company reported earnings of US$28.8 billion, down from US$33.7 billion in 2024.
ExxonMobil said the weaker crude prices and growth-related costs were partially offset by advantaged volume growth, structural cost savings, higher industry refining margins, and favourable timing effects.
The oil major distributed US$37.2 billion to shareholders, including US$17.2 billion of dividends.
ExxonMobil plans to repurchase US$20 billion of shares through 2026, assuming reasonable market conditions.
“ExxonMobil is a fundamentally stronger company than it was just a few years ago, and our 2025 results demonstrate that,” said Darren Woods, ExxonMobil chairman and CEO.
“Our transformation is delivering a more resilient, lower-cost, technology-led business with structurally stronger earnings power, grounded in advantaged assets, disciplined capital allocation, and execution excellence.”
“We’re capturing more value from every barrel and molecule we produce and building growth platforms at scale – creating a long runway of profitable growth through 2030 and beyond.
“That growth is underpinned by disciplined capital allocation and an industry-leading balance sheet that gives us unmatched flexibility to invest through the cycle and consistently deliver industry-leading returns.”
ExxonMobil booked its highest full-year net production in more than 40 years at 4.7 million oil-equivalent barrels per day.
Production from the Permian, at 1.6 million oil-equivalent barrels per day, and Guyana, which exceeded 700,000 gross barrels per day, achieved annual records.
Advantaged assets in the Permian, Guyana, and LNG represented 59 per cent of production in 2025, an increase of approximately 7 percentage points from 2024.
