Big Oil Sticks To Core Business Despite Lower Q3 Results

It’s earnings season for the supermajors, and most of them have reported annual declines, missing analyst expectations. Despite this, however, Big Oil appears upbeat about its core business and is making expansion plans. Exxon, which made headlines earlier this month when it announced the planned acquisition of Pioneer Natural Resources, booked earnings of $9.1 billion, which was higher than in the second quarter but significantly lower than a year ago as oil prices declined. The company boasted strong operating performance, including record…