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ExxonMobil Corporation is a global energy company engaged in the exploration and production of crude oil and natural gas, as well as the manufacture, trade, transport, and sale of petroleum products, petrochemicals, and specialty products . The company is also investing in lower-emission business opportunities, including carbon capture and storage, hydrogen, lower-emission fuels, and lithium . ExxonMobil's diverse portfolio allows it to capture value across the energy value chain, contributing significantly to its total revenue of $334.7 billion in 2023 .
- Upstream - Focuses on the exploration and production of oil and gas, significantly contributing to the company's earnings.
- Energy Products - Involves refining and marketing of fuels, closely tied to industry refining margins influenced by global supply and demand dynamics.
- Specialty Products - Includes high-value products like lubricants, contributing to the company's diverse offerings.
- Chemical Products - Involves the production of petrochemicals, adding to the company's comprehensive product portfolio.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Darren W. Woods ExecutiveBoard | Chairman and CEO | Business Roundtable, Business Council, Trustee at Center for Strategic and International Studies | CEO since 2017, with over 30 years at XOM. Previously held roles such as President and Senior VP. Expertise in global operations and strategy. | View Report → |
Craig S. Morford Executive | VP and General Counsel | None | Leads legal and compliance functions. Former Chief Legal and Compliance Officer at Cardinal Health. | |
Darrin L. Talley Executive | VP, Corporate Strategic Planning | None | Oversees corporate strategy. Former President of ExxonMobil Research and Engineering Company. | |
Jack P. Williams Executive | Senior VP | None | Leads Product Solutions, supply chain, and global projects. Delivered $17B in earnings in 2023 and advanced energy transition goals. | |
Karen T. McKee Executive | President, ExxonMobil Product Solutions | None | Leads Product Solutions business. Former President of ExxonMobil Chemical Company. Focused on energy transition and operational excellence. | |
Kathryn A. Mikells Executive | Senior VP and CFO | None | CFO since 2021. Previously CFO at Diageo. Leads financial strategy, balance sheet management, and shareholder engagement. | |
Len M. Fox Executive | VP and Controller (Principal Accounting Officer) | None | Oversees financial reporting and compliance. Previously Assistant Treasurer and VP of Chemical Business Services. | |
Liam M. Mallon Executive | President, ExxonMobil Upstream Company | None | Oversees upstream operations. Key leader in Guyana projects and energy transition strategies. | |
Neil A. Chapman Executive | Senior VP | None | Oversees Upstream business, global trading, and technology. Key leader in the $59.5B Pioneer acquisition and energy transition initiatives. | |
Alexander A. Karsner Board | Director | Director at Applied Materials, Stanford Precourt Institute, MIT Media Lab, Conservation International | Former U.S. Assistant Secretary of Energy. Expertise in energy policy and technology commercialization. | |
Angela F. Braly Board | Director | Director at Brookfield Corporation, Procter & Gamble | Chair of the Compensation Committee. Former CEO of WellPoint. Expertise in governance and public policy. | |
Gregory J. Goff Board | Director | Director at Avient Corporation | Brings expertise in refining, marketing, and renewable fuels. Former CEO of Andeavor and Executive Vice Chairman at Marathon Petroleum. | |
John D. Harris II Board | Director | Director at Flex Ltd., Cisco Systems, Kyndryl Holdings | Former CEO of Raytheon International. Expertise in global operations and business transformation. | |
Joseph L. Hooley Board | Lead Independent Director | Director at Aptiv PLC and Liberty Mutual Insurance | Chair of the Nominating and Governance Committee. Former Chair and CEO of State Street. | |
Michael J. Angelakis Board | Director | CEO of Atairos Group, Director at Bowlero, Clarivate, and TriNet Group | Chair of the Finance Committee. Former Vice Chairman and CFO of Comcast. Extensive financial expertise. | |
Steven A. Kandarian Board | Director | Chair at Jackson Financial, Director at Neuberger Berman, Damon Runyon Cancer Research Foundation | Former CEO of MetLife. Expertise in risk management, capital allocation, and regulatory engagement. |
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Given the variables affecting production in Guyana, such as project timing, depletion rates, and infill drilling schedules, how do you plan to optimize production versus capacity to ensure full utilization and maximize returns on your capital investments?
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With the $15 billion cost savings target by 2027 and approximately three-quarters already achieved, can you elaborate on how much of these savings are attributable to AI and technology initiatives, and what specific plans you have to leverage technology further to drive additional efficiencies beyond the initial target?
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After withdrawing from the farm-down process in Namibia, how are you balancing the pursuit of new exploration opportunities with maintaining a robust upstream portfolio, especially when assessing the commercial viability and scalability of new resources in light of your already full upstream hopper?
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Considering your ambitious plans for Proxxima and the Carbon Materials venture, both aiming to generate multiple billions of dollars in revenue within the next 5 to 10 years, what specific milestones and challenges do you anticipate in scaling up production and achieving market acceptance for these new technologies?
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Given the current bottom-of-cycle conditions in the Asia chemical markets, how confident are you that the China One project will meet your projections without a return to mid-cycle margins, and what strategies are you implementing to ensure its competitiveness and profitability in a market with excess supply?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Pioneer Natural Resources | 2024 | ExxonMobil’s acquisition of Pioneer was an all-stock transaction valued at approximately $63 billion (with 545 million shares issued and $5 billion of debt assumed), adding more than 850,000 net acres and over 2 billion oil-equivalent barrels of proved reserves to its portfolio, bolstering its upstream operations in the Permian Basin. The deal also featured specific exchange terms (each Pioneer share converted into 2.3234 ExxonMobil shares) and was executed under a merger agreement, with the transaction leading to a recorded $1 billion goodwill in ExxonMobil’s Upstream segment. |
Denbury Inc. | 2023 |
Recent press releases and 8-K filings for XOM.
- Strong Q1 results: Reported $7.7B in GAAP earnings (4% sequential increase) and generated $13B in operating cash flow, reflecting robust performance amid market uncertainty
- Substantial cost savings: Achieved $12.7B in structural cost savings since 2019, with plans to reach $18B by 2030, underpinning a competitive low cost of supply
- New large-scale projects: Launched the new China chemical complex and a second advanced recycling unit in Baytown, expected to add over $3B in earnings by 2026
- Active asset management: Executed $1.8B in asset divestitures in Q1 and sold $24B in noncore assets since 2019 to enhance earnings power
- Shareholder return & balance sheet strength: Maintained a 7% net debt-to-capital ratio and distributed more than $9.1B in dividends and share buybacks, with continued aggressive repurchase efforts to reduce Pioneer share dilution
- Exxon Mobil achieved $7.7B GAAP earnings in Q1 2025 (EPS of $1.76), driven by disciplined cost management, strong operational execution, and structural earnings improvements .
- Strong cash generation was evidenced by $13.0B from CFO, supporting shareholder distributions of approximately $9.1B (including $4.3B in dividends and $4.8B in share repurchases) and debt repayments exceeding $4B .
- Structural cost savings reached $12.7B compared to 2019 levels, further underpinning enhanced shareholder distributions over $9B .
- The company advanced its strategic investments by initiating 10 key project start-ups, notably the China Chemical Complex and a second Advanced Recycling unit in Baytown, positioning it for future growth .
- Exxon Mobil details key market and planned factors expected to impact its 1Q 2025 earnings relative to 4Q 2024, including impairments, asset sale gains, and tax-related items.
- The document also highlights estimated effects from changes in liquids and gas prices, industry margins, timing effects, and scheduled maintenance, noting that these adjustments are preliminary and subject to final financial reporting.
- Exxon Mobil Corporation has filed an 8‑K filing to register and issue $192,803,000 of Floating Rate Notes due 2075, confirming its corporate authority and the validity of the securities.
- The Notes will be issued under an underwriting agreement executed on March 28, 2025, involving prominent underwriters such as Morgan Stanley, UBS, RBC Capital Markets, Deutsche Bank Securities, and J.P. Morgan Securities.
- The Floating Rate Notes feature a floating interest rate based on Compounded SOFR minus 0.450%, with quarterly payment dates starting on June 28, 2025, and include specified redemption and repayment options.