ExxonMobil profits dip as it gives back almost $10 bn to investors

The big US oil company, which saw upstream oil production rise following its acquisition of Pioneer Natural Resources, pointed to the benefits of $11.3 billion in "structural cost savings" as a driver of the results. The oil giant returned $9.8 billion to investors in the three-month period, up from $9.5 billion in the second quarter. ExxonMobil lifted the dividend by four percent, in addition to making share repurchases. Net profits in the third quarter were $8.6 billion, down 5.1 percent from the year-ago period.