(Reuters) -Exxon Mobil Corp doubled its first-quarter per-share profit on Friday, boosted by surging oil and gas prices even as it took a $3.4 billion writedown from its planned exit from its Russian operations.
The top U.S. oil producer reported net income of $5.48 billion, or $1.28 per share, in the three months ended March 31, compared with $2.73 billion, or 64 cents per share, last year.
The results included a $3.4 billion after-tax hit on the oil major’s Russia Sakhalin-1 operation. Exxon said on March 1 it would discontinue all its Russia operations following Moscow’s invasion of Ukraine on Feb. 24.
The company also boosted share buybacks to as much as $30 billion through 2023.
(Reporting by Shariq Khan in Bengaluru; Editing by Arun Koyyur; editing by David Evans)
