Exxon Mobil Corp.

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 [...]

ExxonMobil today released its Energy & Carbon Summary: Positioning for a Lower-Carbon Future and its Outlook for Energy: A View to 2040. The reports highlight ExxonMobil’s analysis of 2 degree Celsius scenarios and include sensitivity analyses on electric vehicle penetration and renewables deployment. They are in response to a 2017 shareholder resolution seeking additional climate disclosures about the impacts of [...]

Exxon Mobil Corporation : Net favorable non-cash impacts in the fourth quarter total $4.6 billion, including $5.9 billion relating to U.S. tax reform, partially offset by asset impairments of $1.3 billion Full year cash flow from operations and asset sales exceeds dividends and net investments1 Company makes sixth discovery offshore Guyana, adds acreage in Brazil, closes acquisition in Mozambique Fourth Quarter Twelve [...]

Exxon Mobil Corporation announced today the election of Steven A. Kandarian to its board of directors, effective Feb. 1, 2018. Kandarian is the chairman, president and chief executive officer of MetLife Inc. With the election of Kandarian, the ExxonMobil board stands at 11 directors, 10 of whom are non-employee directors. Kandarian’s experience leading a large international insurer, along with risk management and [...]

The Board of Directors of Exxon Mobil Corporation today declared a cash dividend of $0.77 per share on the Common Stock, payable on March 9, 2018 to shareholders of record of Common Stock at the close of business on February 12, 2018. This first quarter dividend is at the same level as the dividend paid in the fourth quarter of 2017. Through its dividends, the corporation has shared its success with its shareholders for [...]

ExxonMobil today announced that it plans to triple total daily production to more than 600,000 oil-equivalent barrels by 2025 from its operations in the Permian Basin in West Texas and New Mexico. Tight oil production from the Delaware and Midland basins will increase five-fold in the same period. Recent changes in the U.S. corporate tax rate create an environment for increased future capital investments, including [...]