ExxonMobil saw its net income decline by more than 30% in 2019 from the previous year, according to the financial results statement released on Friday.
The U.S.' biggest energy company posted a net income of $14.34 billion for the full year of 2019, which is a 31.2% decline compared to $20.84 billion for the full year of 2018.
The firm's net income in the fourth quarter of 2019 came at $5.69 billion -- a 5.2% loss compared to the same period of the previous year. In the October-December period of 2018, ExxonMobil had a net income of $6 billion.
Year-over-year revenue also saw a decline of 8.7%, coming at $264.94 billion for the full year of 2019, down from $290.21 billion for the full year of 2018.
In the final quarter of 2019, revenue was $67.17 billion, down from $71.89 billion for the fourth quarter of the previous year -- a 6.5% decline.
"Short-term supply length in the downstream and chemicals businesses impacted margins and financial results," ExxonMobil Chairman and CEO Darren W. Woods said in the statement.
The company's capital and exploration expenditures were $8.5 billion in the fourth quarter of 2019, according to the results.
By Ovunc Kutlu