Exxon Mobil Sees $500 Million Rebound in 3Q Refining Margins

Exxon Mobil Corp. said refining margins rebounded in the third quarter, adding about $500 million to earnings compared with the three months prior.

The increase in profits at the company’s fuel-making division, the largest among its Big Oil rivals, will add $300 million to $700 million to earnings in the third quarter, the Spring, Texas-based company said in a statement Monday. Exxon expects a smaller gain of about $200 million from higher margins in its chemicals division while the change in oil and gas prices will have a negligible effect on earnings.