Sure. It's really a question of how do we optimize and maximize the value, and that's been the focus from the very beginning and continue to be one. That has been, you know, a source of not only demand but also of exports. We like -- you know, we've brought talent in there. Darren, can I ask, in Mozambique, Total seems to be optimistic about the security on the ground. How kind of general inflation within not just the oil field but, you know, in general, how that's affecting that? Mike Seavers Joins Yuga Labs as Chief Technology Officer. And at this time, I'd like to He joins from Strides where he served as CIO. Our executive team is committed to operations excellence, disciplined management of capital and long-term value. Unlocking the potential of advanced recycling: Matthew McConomy. I wonder if I could just ask about unit depreciation trends. And so, it's a little bit different than the history of the company, and so would appreciate your thoughts on it. Be exceptional. Proactive and consistent dialogue with stakeholders to address environmental, social and governance priorities. In 2014, Mr. Chapman was awarded an honorary doctorate by his alma mater, the University of Surrey. Maybe a question on the chemicals business. That's what you've seen us do. Doug Leggate -- Bank of America Merrill Lynch -- Analyst, Kathy Mikells -- Senior Vice President, Chief Financial Officer. July 19 (Reuters) - Exxon Mobil Corp's (XOM.N) new chief financial officer Kathyrn Mikells is the first woman and external hire to join the oil major's management Jason Fraser serves as Executive Vice President and Chief Financial Officer. And to the extent that we're very active in the Permian, we've got a really good anchor business there, and we're working real hard on opening up the value proposition of our current acreage with technology, that will open up, potentially, opportunities for acquisitions. Dec 5 (Reuters) - Exxon Mobil Corp (XOM.N) is raising the annual base salaries of its top boss and other executives for next year, the largest U.S. oil company said on Monday. Before joining Valero, he held the positions of Vice President of Business Development for Ultramar Diamond Shamrock, and Director of Commercial/Industrial Sales, Assistant Treasurer and Director of Information Systems for Diamond Shamrock. All Rights Reserved. Sure, Doug. Ms. Mikells career in finance spans several industries. We should hit the objective that we set back in 2018 probably sometime this year. And so, I mean, we're looking -- we're working really hard on our technology portfolio in the Permian. So, if economic activity is constrained, then chemical demand is constrained. It's strong sequential growth versus 4Q and also puts you already in line with that 10% growth target that you had laid out for 2023. Exxon Mobil's compensation committee approved an increase in the annual salary of Chief Executive Officer Darren Woods to $1.88 million from $1.70 million this Good morning. ExxonMobil engineer Natalie Martinez discusses the companys efforts to scale up advanced recycling and her part in making it happen. Yeah. Find your future. The jump came Good morning. That spooled up in the first quarter. We'll go next to Sam Margolin with Wolfe Research. And as the situation improves and we feel comfortable that we can successfully go in there and develop the project, we'll take steps to go do that in conjunction with Total and the work that they're doing there. The CTO aligns services responsible for computer operations and production, With over 100 major cyberattacks reported in the United States since the start of the year, including well-publicized ransomware attacks on an American oil pipeline and an international beef supplier, the public is coming to understand how much cybersecurity can affect their everyday lives. By: Materialise via Business Wire. Unlocking the potential of advanced recycling: Stephanie Westbrook. Education WebMark J. Costa Chairman and Chief Executive Officer Read full bio Stephen G. Crawford Executive Vice President, Manufacturing and Chief Sustainability Officer Read full bio Chris M. Killian Senior Vice President and Chief Technology Officer Read full bio Brad A. Lich Executive Vice President and Chief Commercial Officer Read full bio Learn More, ExxonMobil(XOM 1.29%)Q12023 Earnings CallApr 28, 2023, 8:00 a.m. I'm just wondering how vigorously are you pursuing this opportunity and how long do you expect it to take to get to where you want to be on the trading front. So, I feel good about the progress that we've got there -- we're making there. Darren W. Woods Chairman and Chief Executive Officer Kathryn A. Mikells Senior Vice President, Chief Jack Williams was elected senior vice president of Exxon Mobil Corporation in 2014. Uaru will provide an additional 250,000 barrels a day of gross capacity, with start-up targeted for 2026. Apr 28, 2023, 8:00 a.m. We'll go next to Ryan Todd with Piper Sandler. And certainly, from listening to some of our customers in that space, expectations of a fairly healthy air transportation or, you know, airline travel miles going forward in the summer. WebExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the worlds growing energy needs. In 2007, he served as Vice President of Process Safety and Reliability, where his responsibilities included the creation of the overall management system for refining operations as well as the technical standards and work processes that drive operational excellence. Gasoline demand looks pretty reasonable, frankly. 1 Valero Way 1LIFE HEALTHCARE INC. From 2005-2007, he served as an upstream advisor for Exxon Mobil Corporation. John Locke is Vice President and Treasurer. And then with Mozambique, obviously been on hold for a while given some of the challenges there, and we'll continue to keep a close eye on that. A couple of points, I think, as we're looking at the refining margin. April 27, 2023 at 06:45 AM EDT. Actively improving the quality of life in neighboring communities. We'll go next to Alastair Syme with Citi. What I would say is as you look at where we're at today, I mean, this is seasonally a low point as you head into second quarter then third quarter and driving season, when you tend to see supply and demand tighten up and margins improve. Additionally, we look forward to connecting again on May 31st for our annual shareholders' meeting. Yeah. The organizations will focus on leveraging our scale to drive efficiencies, improve operating and financial results, and importantly, deliver an improved experience for customers, vendors, and our people. Theyjust revealed what they believe are thetenbest stocksfor investors to buy right now and ExxonMobilwasn't one of them! Locke has since served in leadership roles over Strategic Planning, Public Policy, and Communications. [Operator instructions] We'll go first to Neil Mehta with Goldman Sachs. Our expectation is that we'll continue to, I think, differentiate our production and what we're able to do versus many of the others -- many of our other competitors who started off on this best bench, high initial production rates. There's quite a big change first quarter versus fourth quarter in depreciation. Great. During his more than 20 years with the DoJ, Morford had assignments as US attorney in Michigan and Tennessee and as first assistant US attorney in Ohio. ExxonMobil technologist Stephanie Westbrook discusses the companys efforts to scale up advanced recycling and her role in making it happen. So, a caveat, everything I say with the recognition that given the impact that demand has on the margins, given the fairly static supply side of the equation, it's often difficult to know exactly where things are going to go. The question is obviously when, but that will come. Those are embedded in the plans that we shared with you last December. I'll give you this one plus one. And so, when we're selling assets, sometimes we're taking a small impairment that runs through depreciation. Combined with the strength of our balance sheet, we have the capability to win across a wide variety of market conditions and deliver strong returns while meeting the evolving needs of society, including the need to reduce emissions. That's been a real focus of that organization. Leveraging the capabilities and advantages developed in our traditional businesses, we're building an advantaged new business, low carbon solutions, which is positioning us as a leader in the energy transition, in our own and others' emissions and establishing long-term value-accretive growth opportunities that will underpin continued growth in shareholder returns. Locke joined Valero in 2003 as an Audit Specialist in Valero's Internal Audit department where he earned several promotions and ultimately served as Executive Director of Internal Audit. Before taking his current position, he was executive vice president of ExxonMobil Production Company. But generally speaking, that happens. Thank you, Darren. From 2011 to 2021, Eric led the implementation of these practices amongst Valero's refining network, helping the business achieve first quartile performance across Solomon energy industry benchmarking metrics. I know I'm kind of asking three questions in one, but they're all focused right around the 7 to 9. We think that makes a lot of sense. But I wonder if the direction we're going with cash, you know, even net of shareholder returns that are continuing to increase and that are well within sort of your targets, you know, if we're kind of getting beyond fortress and into something even bigger than that. This article is a transcript of this conference call produced for The Motley Fool. First, giant hedge fund D.E. In 2013, he transferred to Valero's Investor Relations department, before earning promotions to Vice President and ultimately Corporate Officer. And what triggered our emphasis on China trade and the emphasis that we're putting on trade is the reorganization that we made coming out of the functional organizational construct into value chains. ExxonMobil engineer Matthew McConomy explains how hes designing advanced recycling systems that can help harness the value of plastic waste. From 2010 to 2013, Mr. Williams was president of XTO Energy Inc., which ExxonMobil acquired in 2010. The last point I'd make on refining margins, which I think is somewhat structural, typically, the marginal barrel in refining comes out of Europe. Homer Bhullar is Vice President Investor Relations and Finance. Koen Berges to Succeed Johan Albrecht. The ability of our low-carbon projects to compete successfully for capital is important if the world is going to meet its emissions aspirations. Obviously, Kathy was on the Wire this morning talking about how picky Exxon would be on M&A. If you look at the quarter, you know, we more than offset inflationary cost pressure with the structural savings that we were able to generate. And so, I'd say you kind of have to take a step back from that noise in depreciation. He is also a member of the Business Roundtable, the Business Council and the Texas A&M University Engineering Advisory Council. Yeah. Welcome to ExxonMobil's first quarter 2023 earnings call. Prior to Valero, he worked for ExxonMobil in refinery operations. And now, please turn to Slide 3 for Darren's remarks. Hi. Yeah. That's what the organization is going to be doing. We've had -- we've traded for a long time. Obviously, the first I would make is we don't really pride ourselves on being able to forecast margins. But I would -- I'd make the same. Mr. Woods was appointed president of ExxonMobil Refining and Supply Company and vice president of Exxon Mobil Corporation in 2012. In 2019, he assumed the role of Vice President Investor Relations, and was promoted to his current position in 2021. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Incentives included in the Inflation Reduction Act are a positive step forward, although permitting and other regulatory improvements are still needed. You know, you can look up what people are earning on short-term cash. Fraser also has served as President of European Commercial Operations, overseeing the company's European commercial businesses, andVice President of Specialty Products Marketing. There are always short-term disruptions. We don't see a lot of difference between what the conclusions they're coming up with and our conclusions. XOM earnings call for the period ending March 31, 2023. Perspective I think three-month treasuries are at 5% today. The Permian is doing well. And so, that -- the Europe set is the price setter for global markets ex-transportation. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. I would say we haven't changed our year-end targets, and so the guidance that we gave as part of the corporate plan discussion last year continues to hold. WebExxonMobil. Yeah. You know, we talked a little bit in our presentation about the fact that our maintenance activities, we had a pretty heavy turnaround quarter, and those maintenance activities really came in at the first quartile, so much better than what we had planned for a shorter duration. We'll go next to Biraj Borkhataria with RBC. They are just working through on the cost structure with the contractor. We can trade across those value chains. The increase more than offset our divestments in the expropriation of Sakhalin-1, which we no longer account for, but which, importantly, remains part of global supply. It's maintaining a very strong balance sheet. Exactly what we're seeing today. So, we obviously take the company's working capital needs into consideration as we think about our balance sheet and our cash balance. I just want to ask you if you feel that you need to backfill your Permian position at any time in the future, and I'll leave it there. Jason Gabelman -- Cowen and Company -- Analyst. Mr. Woods joined Exxon Company International in 1992 as a planning analyst in Florham Park, New Jersey. Thanks for taking the question. And we'll go next to Devin McDermott with Morgan Stanley. Gorder earned a bachelors degree in business administration from the University of Missouri-St. Louis and a masters degree in business administration from Our Lady of the Lake University. He progressed through a number of domestic and international assignments for Exxon Company International, ExxonMobil Chemical Company and ExxonMobil Refining and Supply Company. We're always looking for an opportunity for an acquisition and one that grows value and it's got to be value-accretive. This is not about going out and taking speculative positions. Today's call is being recorded. I think good progress in both PNG and Mozambique. Mr. Chapman advanced through engineering, operations, planning and commercial roles in various chemical affiliates in the United Kingdom, Belgium, the United States and Hong Kong prior to the 1999 merger between Exxon and Mobil. Aug. 30, 2022, Who we are You know, you all know, we, several years ago, had a strategy on maximizing oil recovery versus initial production rates. So, we feel really good about where we're at today on our balance sheet. And so, you know, that's all about improving the experience for our employees, for our vendors, for our customers, and continuing to drive efficiencies and, importantly, effectiveness across those organizations. ExxonMobil announces first quarter 2023 results IRVING, Texas April 28, 2023 Exxon Mobil Corporation today announced first-quarter 2023 earnings of $11.4 billion, or $2.79 per share assuming dilution. While Exxon has female leaders, the top tier management committee, comprised of the CEO and three to four senior vice presidents has remained all-male according to a Reuters' review of SEC filings dating to 2001. Yeah. And like I said, even in the short time, we've seen some really good results. He joined the company from AMD, where he served as head of research and advanced development. Simmons joined Valero in 1987 and began his career as a Process Engineer at the Ardmore refinery and held many leadership positions including Executive Director-Regional Development, Vice President and General Manager of the Ardmore refinery, Vice President and General Manager of the St. Charles refinery, and Vice President-Planning and Economics, before being promoted to his current position. He earned his Bachelor of Business Administration degree from the Business Honors Program at the University of Texas at Austin, and his Juris Doctor from Harvard Law School. Now let's move to Q&A. Neil Chapman joined the Exxon Mobil Corporation Management Committee as senior vice president in 2018. We'll go next to Roger Read with Wells Fargo. Eric Honeyman serves as Vice President Renewables Operations & Low Carbon Fuels, serving previously as Vice President Refining Operations. In simple terms, the Chief Technology Officer is the executive responsible for managing and driving value from technology within an organisation. From 2007-2009, he was the vice president of engineering for ExxonMobil Production Company. The CTO aligns services responsible for computer operations and production, And so, you've seen us in the last two years raise the dividend in the fourth quarter of the year. The ExxonMobil Board of Directors elected Mr. Woods as Chairman and Chief Executive Officer, effective January 1, 2017. He also has studied international and English law at the University of Oxford in England, and has extensive international legal experience working in South America, Asia andEurope. He has significant leadership experience at Valero, having served as General Counsel, as well asSenior Vice President with oversight of Valero's public policy, strategic planning, governmental affairs, investorrelations and external communications functions. Energy Factor Results included unfavorable identified items of approximately $200 million associated with additional European taxes on the energy sector. April 27, 2023 at 06:45 AM EDT. He is a native of Stoke-on-Trent, England. Simmons has a Bachelor of Science degree in chemical engineering from the University of Oklahoma and a Master of Business Administration degree from University of Texas at San Antonio. We'll go next to John Royall with J.P. Morgan. OK. I think we've said in the past that as you look at production, the Permian is going to be a little bit lumpy, and so I wouldn't take any one data point, any one quarter's numbers and extrapolate from there. He joined Exxon in April 1987 as a drilling engineer in New Orleans, Louisiana, after graduating from Vanderbilt University with a Bachelor of Engineering degree.
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