• Mar 6, 2019
    NEW YORK--(BUSINESS WIRE)--ExxonMobil today said it has updated its growth plans and expects annual earnings potential to increase by more than 140 percent by 2025 from 2017 adjusted earnings, assuming an oil price of $60 per barrel and based on 2017 margins. “Given the success we experienced last year and the progress we’re making on our plans, we have even greater confidence in our ability to grow value for our shareholders,” Darren Wmore...
  • Mar 5, 2019
    IRVING, Texas--(BUSINESS WIRE)--ExxonMobil said today it has revised its Permian Basin growth plans to produce more than 1 million oil-equivalent barrels per day by as early as 2024 – an increase of nearly 80 percent and a significant acceleration of value. The size of the company’s resource base in the Permian is approximately 10 billion oil-equivalent barrels and is likely to grow further as analysis and development activities continuemore...
  • Mar 1, 2019
    IRVING, Texas--(BUSINESS WIRE)--Exxon Mobil Corporation (NYSE:XOM) said today that John Verity, president of ExxonMobil Chemical Company, has elected to retire after 38 years of Service. The board of directors appointed Karen McKee, senior vice president for basic chemicals, integration and growth, to be president of ExxonMobil Chemical Company, effective April 1, 2019. Verity, 60, joined Exxon Chemical in 1980 and held sales, marketing andmore...
  • Mar 1, 2019
    IRVING, Texas--(BUSINESS WIRE)--ExxonMobil said today that it will fund the construction of a new polypropylene production unit in Baton Rouge that will expand production capacity along the Gulf Coast by up to 450,000 tons per year. Construction will begin in 2019 and startup is anticipated by 2021. The project is expected to create up to 600 jobs during construction and 65 permanent jobs once completed. “Growth in feedstockmore...
  • Feb 28, 2019
    IRVING, Texas--(BUSINESS WIRE)--ExxonMobil today said it has made a natural gas discovery offshore Cyprus in the Eastern Mediterranean at the Glaucus-1 well. The well, located in Block 10, encountered a gas-bearing reservoir of approximately 436 feet (133 meters). The well was safely drilled to 13,780 feet (4,200 meters) depth in 6,769 feet (2,063 meters) of water. Based on preliminary interpretation of the well data, the discoverymore...
  • Feb 26, 2019
    IRVING, Texas--(BUSINESS WIRE)--Exxon Mobil Corporation (NYSE:XOM) said today it added 4.5 billion oil-equivalent barrels of proved oil and gas reserves in 2018, replacing 313 percent of the year’s production. ExxonMobil's proved reserves totaled 24.3 billion oil-equivalent barrels at year-end 2018. Liquids represented 64 percent of the reserves, up from 57 percent in 2017. “We continue to add high-value, attractive assets tomore...
  • Feb 25, 2019
    IRVING, Texas--(BUSINESS WIRE)--More than 1,000 middle-school girls have joined ExxonMobil for the company’s 16th annual Introduce a Girl to Engineering Day, which aims to inspire female students to consider engineering as a career. Over several days, employees from ExxonMobil and its subsidiary XTO Energy across the United States led students through interactive activities that range from chemistry to physics. More than 15,000more...
  • Feb 22, 2019
    IRVING, Texas--(BUSINESS WIRE)--ExxonMobil said today a new partnership with Microsoft will make its Permian Basin operations the largest-ever oil and gas acreage to use cloud technology and is expected to generate billions in net cash flow over the next decade through improvements in analyses and enhancements to operational efficiencies. The application of Microsoft technologies by ExxonMobil’s XTO Energy subsidiary – includingmore...
  • Feb 6, 2019
    IRVING, Texas--(BUSINESS WIRE)--ExxonMobil said today it made two additional discoveries offshore Guyana at the Tilapia-1 and Haimara-1 wells, bringing the total number of discoveries on the Stabroek Block to 12. The discoveries build on the previously announced estimated recoverable resource of more than 5 billion oil-equivalent barrels on the Stabroek block. Tilapia-1 is the fourth discovery in the Turbot area that includes the Turbotmore...
  • Feb 5, 2019
    IRVING, Texas--(BUSINESS WIRE)--ExxonMobil and partner Qatar Petroleum said today they have made a final investment decision to proceed with development of the Golden Pass LNG export project located in Sabine Pass, Texas. Construction will begin in the first quarter of 2019 and the facility is expected to start up in 2024. “Golden Pass will provide an increased, reliable, long-term supply of liquefied natural gas to global gas markets,more...
    LNG