Exxon Mobil says lower-than-expected Q2 result partly because Arun gas operations halt

US oil major Exxon Mobil Corp. reported Tuesday lower than expected second quarter earnings result, a 2-cent earnings shortfall.

Exxon Mobil reported second-quarter net income of $4.46 billion, as against year-ago second quarter earnings of $4.53 billion.

Exxon Mobil's vice president of investor relations said that second-quarter performance also was hurt by interruptions at its Arun gas field in Aceh, Indonesia.

Exxon Mobil ceased production at the field in March because violent outbursts in the region prompted safety concerns. The company has restarted production, but is taking it "day-by-day," Townsend said.

According to Townsend, it will take a while to bring the Arun field back to full production. As a result, the spokesman declined to comment on Exxon Mobil's production forecast for the year.

During its first-quarter conference call, Townsend had said the shutdown at Arun would lower Exxon Mobil's earnings by about $30 million a month for each month the field is shut down.(*)