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ExxonMobil continues to expect that the U.S. antitrust authority will give the green light to its proposed $60-billion all-stock acquisition of Pioneer Natural Resources by the end of the second quarter
Adjusted first-quarter profit of $2.93 a share was 3 cents higher than the average of analyst estimates in the Bloomberg Consensus. Crude-oil production of almost 2 MMbpd exceeded forecasts.
ExxonMobil and Chevron both reported a dip in profits Friday on lower refining margins and natural gas prices, but ExxonMobil's big takeover appears on track to close before Chevron's. While ExxonMobil's Pioneer deal appears on the cusp of closing, Chevron's proposed $53 billion takeover of Hess hit a speedbump following a challenge from ExxonMobil.
ExxonMobil and Chevron both reported a dip in profits Friday on lower refining margins and natural gas prices, but ExxonMobil's big takeover appears on
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