Exxon Mobil Corp expects a gain of as much as $3.6 billion from the sale of its ...
FILE PHOTO: Logos of ExxonMobil are seen in its booth at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan April 4, 2017. REUTERS/Toru Hanai/File Photo
The gain from the sale of assets in Norway to Var Energi AS, majority owned by Italian major Eni SpA , is also expected to offset lower margins in the company’s refining and chemicals businesses. The regulatory filing also showed that Exxon’s hard-hit chemical business could slash its profit in the fourth quarter, compared with the third, due to weak margins resulting from a global glut of polyethylene.
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