ExxonMobil Plans Investments of $20 Billion to Expand Manufacturing in U.S. Gulf Region

Dateline City: HOUSTON New projects expected to create more than 45,000 high-paying jobs across the region and thousands more through multiplier effect HOUSTON–(BUSINESS WIRE)–Exxon Mobil Corporation (NYSE:XOM) is expanding its manufacturing capacity along the U.S. Gulf Coast through planned investments of $20 billion over a 10-year period to take advantage of the American energy revolution, Darren Woods, chairman and chief executive officer, said Monday. The projects, at 11 proposed and existing sites, are expected to generate thousands of new high-paying jobs and $20 billion in increased economic activity in Texas and Louisiana, Woods said, highlighting the company’s Growing the Gulf […]

ExxonMobil’s Integration, Diverse Portfolio of Investments to Drive Growth

Dateline City: NEW YORK Five major upstream startups over next two years to contribute 340,000 oil-equivalent barrels of working interest capacity 2017 capital and exploration expenses of $22 billion Integrated investments in the U.S. Gulf Coast to benefit from advantaged feed stock NEW YORK–(BUSINESS WIRE)–Exxon Mobil Corporation (NYSE:XOM) is positioned to succeed in any price environment by maximizing the competitive advantages of its integrated businesses and by investing in projects that generate high-value products across the commodity cycle, Chairman and Chief Executive Officer Darren W. Woods said Wednesday. “Our job is to compete and succeed in any market, regardless of […]

ExxonMobil Adds State-of-the-Art Tire Testing Capabilities to Shanghai Technology Center

SHANGHAI–(BUSINESS WIRE)–ExxonMobil today announced that it has expanded the tire testing capabilities of its Shanghai Technology Center. A new state-of-the-art Inflation Pressure Loss Rate (IPLR) test room that evaluates a tire’s air pressure loss rate over time has been added. The new facility, which expands upon the company’s global network of tire technology support centers in Baytown, Texas, and Bangalore, India, will help customers meet rising quality standards in the tire industry. read more

ExxonMobil Announces 2016 Reserves

Dateline City: IRVING, Texas IRVING, Texas–(BUSINESS WIRE)–Exxon Mobil Corporation (NYSE:XOM) announced today proved reserves were 20 billion oil-equivalent barrels at year-end 2016, inclusive of a net reduction of 3.3 billion oil-equivalent barrels from 2015. Reserves changes in 2016 reflect new developments as well as revisions and extensions to existing fields resulting from drilling, studies, analysis of reservoir performance and application of the methodology prescribed by the U.S. Securities and Exchange Commission. As a result of very low prices during 2016, certain quantities of liquids and natural gas no longer qualified as proved reserves under SEC guidelines. These amounts included the […]

ExxonMobil Employees Inspire Girls to Pursue Future in Engineering

Dateline City: IRVING, Texas Introduce a Girl to Engineering program inspires students to choose careers in engineering ExxonMobil employees will lead interactive experiments with more than 1,000 students Program associated with Girl Day, an initiative designed to show how engineers can change the world IRVING, Texas–(BUSINESS WIRE)–In association with its ongoing “Be an Engineer” initiative, ExxonMobil is inspiring girls to explore coursework and careers in engineering through its 14th annual Introduce a Girl to Engineering Day program. This year’s program will engage more than 1,000 middle-school girls across the country in a hands-on approach that allows students to experience the […]

ExxonMobil Sets Record in High Performance Oil and Gas Reservoir Computing

Dateline City: SPRING, Texas Proprietary software demonstrates record performance using 716,800 computer processors Reservoir development scenarios can be examined thousands of times faster Efficiency in reservoir modeling reduces time in informing business decisions SPRING, Texas–(BUSINESS WIRE)–ExxonMobil, working with the National Center for Supercomputing Applications (NCSA), has achieved a major breakthrough with proprietary software using more than four times the previous number of processors used on complex oil and gas reservoir simulation models to improve exploration and production results. The breakthrough in parallel simulation used 716,800 processors, the equivalent of harnessing the power of 22,400 computers with 32 processors per computer. […]

ExxonMobil Singapore Refinery to Expand Group II Base Stock Production

Dateline City: LONDON Expansion will strengthen global supply of high-quality base stocks Work to begin during the second quarter of 2017 with completion expected in 2019 Investment will enable customers to blend lubricants that help lower emissions, improve fuel economy LONDON–(BUSINESS WIRE)–ExxonMobil announced today the expansion of its Singapore refinery to support the production of the company’s EHC™ Group II base stocks, which will strengthen the global supply of these products and enhance the Singapore facility’s competitiveness. Construction is expected to begin during the second quarter of 2017 with completion anticipated in 2019. ExxonMobil’s EHC product line has been designed […]

ExxonMobil Awards License for Efficient Drilling Technology to Pason Systems

Dateline City: SPRING, Texas Technology builds on company’s efficient Fast Drill™ technology using real-time monitoring Drilling performance improved at nine fields SPRING, Texas–(BUSINESS WIRE)–ExxonMobil has awarded to Pason Systems, Inc. the first global license of its patented Drilling Advisory System™, a key component of the company’s Fast Drill™ technology suite. The licensing agreement accelerates the technology’s commercialization by combining Pason’s expertise in drilling data and ExxonMobil’s experience in drilling surveillance and optimization. Fast Drill combines high-end modeling of drilling physics with structured well planning and design to identify limiters and maximize performance. ExxonMobil’s drilling rate has improved more than 80 […]

ExxonMobil Earns $7.8 Billion in 2016; $1.7 Billion During Fourth Quarter

Dateline City: IRVING, Texas Cash flow from operating activities of $7.4 billion and asset sales of $2.1 billion more than covered fourth quarter dividends and additions to property, plant and equipment Investing strategically across all business segments U.S. Upstream earnings include an impairment charge of $2 billion largely related to dry gas operations in the Rocky Mountains region IRVING, Texas–(BUSINESS WIRE)–Exxon Mobil Corporation (NYSE:XOM):   Fourth Quarter   Twelve Months 2016   2015 % 2016   2015 % Earnings Summary (Dollars in millions, except per share data) Earnings 1,680 2,780 -40 7,840 16,150 -51 Earnings Per Common Share Assuming Dilution […]

ExxonMobil to Release Fourth Quarter and Full Year 2016 Financial Results

Dateline City: IRVING, Texas IRVING, Texas–(BUSINESS WIRE)–Exxon Mobil Corporation  (NYSE:XOM) will release fourth quarter and full year 2016 financial results on Tuesday, January 31, 2017. A press release will be issued via Business Wire and available at 7 a.m. CT at www.exxonmobil.com. Jeff Woodbury, vice president of Investor Relations, will review the results during a listen-only conference call at 8:30 a.m. CT. The earnings presentation can be accessed via webcast or by calling (800) 218-2154 (United States) or (913) 312-0654 (International). Please reference confirmation code 6422466 to join the call. An archive replay of the call will be available at […]