Demand for industrial products is expected to continue to grow as the global economy recovers and standards of living rise in the developing world. To meet this demand, manufacturing solutions that are more energy- and greenhouse gas-efficient than those currently available will be required. Since , ExxonMobil has reduced and avoided more than million tonnes of emissions through energy efficiency and cogeneration projects and continues to target research in equipment design, advanced separations, catalysis, and process configurations as part of efforts to develop energy-efficient manufacturing.
Heavy-duty transportation requires fuels with high energy density that liquid hydrocarbons provide. Global energy-related CO 2 emissions by sector 9. Deployment of new, innovative technologies maximizes returns and reduces emissions. ExxonMobil produces about 4 million oil-equivalent barrels of net oil and natural gas per day. We are active in 40 countries, and participate in all aspects of the upstream global value chain, including exploration, development, production, and marketing. Our Upstream is organized into five value-chains: deepwater, unconventional, LNG, heavy oil, and conventional.
Our industry-leading, low cost-of-supply developments in deepwater, unconventional Permian, and LNG underpin the growing value of our portfolio. The commercial success of well-known brands and high-quality products is underpinned by our strong customer focus and supply reliability.
Mobil 1 synthetic lubricant is the worldwide leader in synthetic motor oils and is the best-selling U. ExxonMobil is among the largest chemical producers in the world with annual sales of over 25 million tonnes. We are the number one or two producer for more than 80 percent of our chemical product portfolio, 19 achieved through operational excellence, cost discipline, a balanced product portfolio, proprietary technology, and industry-leading integration with our Downstream and Upstream operations.
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To use the existing infrastructure and capture the carbon is probably the least expensive and quickest way to net zero," he said. But some, including activist firm Engine No. The group has been targeting the oil giant since December and has proposed its own slate of four new directors. Among other things, Engine No. Shaw was also targeting the energy company at one point, but Exxon's Woods said conversations with the firm have been productive.
Conversations have been less productive with Engine No. Woods said the firm "wasn't particularly interested in engaging and understanding" how Exxon can grow shareholder value while transitioning to a low-carbon future. The upbeat results following a contested board fight over the company's direction highlighted how oil producers are taking advantage of a recovery in oil prices to cut debt and boost shareholder payouts rather than spend more to raise production.
Earlier in the day, rival Chevron cut its budget , although both U. Exxon again used higher cash flow to pare a massive debt built up to preserve its shareholder dividend amid historic losses. Late last month, the company had given a broad indication about its results, prompting several analysts to reduce their earning projections.
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