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Millions of shareholders benefit from ExxonMobil's performance

29 May '08
3 min read

ExxonMobil has spent more than $2 billion over the past five years on initiatives to reduce greenhouse gas emissions and improve efficiency, and plans to spend another $1 billion by 2010. Through actions taken in 2006 and 2007, the company reduced greenhouse gas emissions by about 5 million metric tons in 2007.

“We have the same concerns as people everywhere – and that is how to provide the world with the energy it needs while reducing greenhouse gas emissions.”

Reporting financial results, Tillerson said ExxonMobil led the oil and gas industry with average return on capital employed of 32 percent, almost 40 percent greater than its closest competitor.

The company started production at seven major projects, adding production capacity of nearly 220,000 oil-equivalent barrels per day. The year also marked the 14th consecutive year that ExxonMobil replaced more than 100 percent of its production with new reserves for future production.

Shareholders heard that the corporation expects 12 major developments to begin production in 2008, adding an additional 375,000 oil-equivalent barrels per day to ExxonMobil's production.

That includes the start up in Qatar of two of the world's largest facilities to produce liquefied natural gas, which will yield nearly 2.5 billion cubic feet of clean-burning natural gas every day for power stations, factories and homes around the world.

Between 2008 and 2010, ExxonMobil expects to participate in the start up of 19 new projects which, at peak, would collectively add more than 725,000 oil-equivalent barrels per day to ExxonMobil's production.

In all, ExxonMobil's industry-leading portfolio of more than 100 projects is expected to support development of more than 24 billion oil-equivalent barrels of energy.

ExxonMobil Corporation

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