ExxonMobil said today it is undertaking early front-end engineering design studies to determine the potential for carbon capture and storage to reduce greenhouse gas emissions from multiple industries in the Gippsland Basin. The South East Australia carbon capture and storage hub would initially use existing infrastructure to store CO2 in the depleted Bream field off the coast of Gippsland, Victoria. The company is in [...]
ExxonMobil introduced today its new Exceed™ S performance polyethylene resins, which deliver industry-leading combinations of stiffness and toughness while being easy to process. Utilizing the company's latest innovations in polymer science, the new PE platform provides opportunities to reduce the complexity of film formulations and designs while improving film performance, conversion efficiency, and packaging durability [...]
ExxonMobil has made a final investment decision for the Yellowtail development offshore Guyana after receiving government and regulatory approvals. The company's fourth, and largest, project in the Stabroek Block is expected to produce approximately 250,000 barrels of oil per day starting in 2025. "Yellowtail's development further demonstrates the successful partnership between ExxonMobil and Guyana, and helps provide the [...]
The board of directors of Exxon Mobil Corp. said today that lead independent director Kenneth C. Frazier has announced his intention not to stand for re-election to the board at the annual meeting of shareholders on May 25. Joseph L. Hooley, former chairman and CEO of State Street Corp. and ExxonMobil director since 2020, has been selected by the independent directors to serve as lead director, effective after the annual [...]
ExxonMobil said today that Dan Ammann, former General Motors president and CEO of Cruise autonomous vehicle company, has been appointed president of ExxonMobil Low Carbon Solutions, effective May 1. Ammann replaces Joe Blommaert, who has elected to retire after 35 years of service. "We welcome Dan to ExxonMobil and will use his knowledge and experience to continue to build our Low Carbon Solutions business," said Darren [...]
ExxonMobil said today that Matt Furman has been elected vice president of public and government affairs, effective April 1, replacing Suzanne McCarron, who has elected to retire after 24 years of service. "We welcome Matt to ExxonMobil and will leverage his knowledge and experience to enhance our corporate communications," said Darren Woods, chief executive officer and chairman. "I thank Suzanne for her many contributions [...]
ExxonMobil today detailed plans at its annual Investor Day to deliver industry-leading earnings, cash flow growth and shareholder returns, and lead in the energy transition across a range of lower-emissions scenarios. "We are focused on leading the industry in safety, reliability, environmental performance, earnings and cash flow growth - and ultimately shareholder returns," said Darren Woods, chairman and chief executive [...]
ExxonMobil said today it is planning a hydrogen production plant and one of the world's largest carbon capture and storage projects at its integrated refining and petrochemical site at Baytown, Texas, supporting efforts to reduce emissions from company operations and local industry. "Hydrogen has the potential to significantly reduce CO2 emissions in vital sectors of the economy and create valuable, lower-emissions [...]
ExxonMobil today issued the following statement regarding the situation in Ukraine. ExxonMobil supports the people of Ukraine as they seek to defend their freedom and determine their own future as a nation. We deplore Russia's military action that violates the territorial integrity of Ukraine and endangers its people. We are deeply saddened by the loss of innocent lives and support the strong international response. We [...]
ExxonMobil has made a final investment decision to expand carbon capture and storage at its LaBarge, Wyoming, facility, which has captured more CO2 than any other facility in the world to date. The expansion project will capture up to 1.2 million metric tons of CO2, in addition to the 6-7 million metric tons captured at LaBarge each year. "Carbon capture and storage is a readily available technology that can play a [...]
ExxonMobil has reached an agreement to sell its equity interest in Mobil Producing Nigeria Unlimited to Seplat Energy, a Nigerian independent oil and gas company, through its wholly-owned subsidiary Seplat Energy Offshore Limited. "This sale will allow us to prioritize competitively advantaged investments in our strategic assets, and it supports the Nigerian government's efforts to grow its oil and gas operations," said [...]
ExxonMobil has completed its first commercial sale of certified circular polymers, using its Exxtend™ technology for advanced recycling of plastic waste. The purchaser is Berry Global, a leading provider of innovative packaging and engineered products, which will use the circular polymers to manufacture containers for high-performance food-grade packaging on a mass balance approach. "We are scaling up our advanced [...]
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