Exxon Mobil Corporation will release its 2017 Financial and Operating Review on Tuesday, April 3, 2018. The report will be posted at 8 a.m. CDT at www.exxonmobil.com/annualreport. View source version on businesswire.com: https://www.businesswire.com/news/home/20180328005251/en/ Contact ExxonMobil Media Relations, 972-940-6007...
ExxonMobil said today it has started detailed engineering work on a potential U.S. Gulf Coast project to expand polypropylene manufacturing capacity by up to 450,000 tons a year to meet growing demand for high-performance, lightweight durable plastics. A final decision on the investment, anticipated to be several hundred million dollars, is expected later this year. Facility startup could come as early as 2021. The new [...]
Mark W. Albers, senior vice president of Exxon Mobil Corporation , has announced his intention to retire, effective April 1, 2018, after more than 38 years of service. Albers, 61, was elected to his current position as senior vice president and a member of the corporation's Management Committee in 2007. Throughout his career, Albers held a variety of managerial positions in development, operations, production and [...]
In recognition of International Women’s Day, ExxonMobil announced today that it is providing $7 million in grants in 2018 to renew support for local and global organizations working to empower women economically. Grants made this year will continue ExxonMobil’s longstanding support for efforts to increase research into new methods to advance women economically, assist women entrepreneurs to grow their [...]
ExxonMobil today outlined an aggressive growth strategy to more than double earnings and cash flow from operations by 2025 at today’s oil prices. “We’ve got the best portfolio of high-quality, high-return investment opportunities that we’ve seen in two decades,” Darren W. Woods, chairman and chief executive officer, said at the company’s annual meeting of investment analysts at the New [...]
ExxonMobil and Synthetic Genomics Inc. today announced a new phase in their joint algae biofuel research program that could lead to the technical ability to produce 10,000 barrels of algae biofuel per day by 2025. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180306005178/en/ The new phase of research includes an outdoor field study that will grow naturally [...]
Exxon Mobil Corporation said today that it is providing $1 million for the humanitarian relief effort in Papua New Guinea to assist communities affected by a powerful earthquake and aftershocks in the country’s Highlands area. “We are deeply saddened by the devastation this earthquake has brought to Papua New Guinea,” said Darren W. Woods, chairman and chief executive officer. "Our highest priority [...]
Exxon Mobil Corporation today announced that it will become the first founding member of the new Stanford Strategic Energy Alliance, an initiative that will examine ways to improve energy access, security and technology while reducing impacts on the environment. As part of its commitment, ExxonMobil will contribute $20 million in funding over five years to research and develop lower-carbon energy solutions. The Stanford [...]
Exxon Mobil Corporation announced today its seventh oil discovery offshore Guyana, following drilling at the Pacora-1 exploration well. ExxonMobil encountered approximately 65 feet of high-quality, oil-bearing sandstone reservoir. The well was safely drilled to 18,363 feet depth in 6,781 feet of water. Drilling commenced on Jan. 29, 2018. “This latest discovery further increases our confidence in developing this key [...]
Exxon Mobil Corporation said today it added 2.7 billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183 percent of production. ExxonMobil's proved reserves totaled 21.2 billion oil-equivalent barrels at year-end 2017. Liquids represented 57 percent of the reserves, up from 53 percent in 2016. ExxonMobil’s reserves life at current production rates is 14 years. “Our exploration [...]
ExxonMobil announced today that a new 1.5 million ton-per-year ethane cracker at its Baytown, Texas complex is mechanically complete with commissioning progressing well. Project startup is expected during the second quarter of 2018. The new ethane cracker, part of ExxonMobil’s multi-billion dollar Baytown chemical expansion project, will provide ethylene feedstock to the new performance polyethylene lines in Mont [...]
Rob Franklin, president of ExxonMobil Gas & Power Marketing Company, has announced his intention to retire, effective March 1, 2018, after more than 35 years of service. The board of directors of Exxon Mobil Corporation has appointed Peter Clarke as president of ExxonMobil Gas & Power Marketing Company and elected him as a vice president of the corporation. Clarke is currently vice president, international gas, ExxonMobil [...]
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