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About ExxonMobil
Taking on the world’s toughest energy challenges
ExxonMobil is the world’s largest publicly traded integrated petroleum and natural gas company. We operate facilities and market products globally, and explore for oil and natural gas on six continents.
ExxonMobil uses innovation and technology to deliver energy to meet the world’s growing demand. Our extensive research programs support operations, enable continuous improvement in each of our business lines, and explore new and emerging energy sources and technologies.
Our people, experience, financial and technical strength, and global reach provide a competitive advantage and ensure broad exposure to high-quality opportunities—from conventional exploration to opportunities that require close integration between our Upstream, Downstream, and Chemical businesses.
ExxonMobil Operations
Upstream
The upstream life cycle consists of early hydrocarbon resource identification, evaluation, acquisition, development activities, production operations, and decommissioning. Our asset base includes exploration and production acreage in 39 countries and production operations in 23 countries around the world. Our current portfolio of more than 130 major development projects is expected to produce over 24 billion net oil-equivalent barrels during its lifetime.
In 2009, eight major upstream projects started operations, adding an equivalent of over 400 thousand net oil-equivalent barrels a day to the company’s production at peak performance. We anticipate the start-up of another three major projects in 2010. ExxonMobil sells natural gas in almost all major and developing markets. Total net oil and gas production available for sale in 2009 averaged 3.9 million oil-equivalent barrels per day.
Downstream
Our downstream operations refine and distribute products derived from crude oil and other feedstocks. Our global network of manufacturing plants, transportation systems, and distribution centers provides fuels, lubricants, and other high-value products to customers.
As the largest global refiner, ExxonMobil has interests in 37 refineries in 21 countries. We market our fuels products to millions of customers worldwide through nearly 28,000 retail service stations and three global business-to-business segments—Industrial and Wholesale, Aviation, and Marine. We are the world’s largest supplier of lube basestocks and the market leader of high-technology and globally recognized synthetic lubricant brands, such as Mobil 1 and Mobil SHC. We are also a leading supplier of asphalt and specialty products.
In 2009, refinery throughput averaged 5.4 million barrels per day and petroleum product sales were 6.4 million barrels per day.
Chemical
ExxonMobil is a leader in the petrochemical industry with interests in 48 wholly owned and joint-venture manufacturing facilities around the world. We hold leadership positions in many of the largest-volume and highest-growth commodity petrochemical products in the world. ExxonMobil is one of the largest producers of aromatics and olefins, the basic petrochemical building blocks, and polyolefins, including plastics such as polyethylene and polypropylene. Our world-scale integrated manufacturing sites also allow us to produce a diverse set of less cyclical specialty products that deliver advanced performance and value to our customers in a broad array of applications. More than 90 percent of our chemical capacity is employed in businesses where we rank first or second in worldwide market position.
In 2009, chemical prime product sales totaled 24.8 million metric tons.
Technology
Breakthrough technologies are helping ExxonMobil keep pace with rising global energy demand by making more energy supplies available while also reducing the environmental footprint of energy development. Technology is more important today than ever, since a significant portion of the world's oil and gas resources is located in challenging environments such as deep water, low permeability rock, and arctic regions. We are also developing and deploying technologies to reduce our environmental impact and greenhouse gas emissions, including carbon capture and storage, algae-based biofuels, and cogeneration. Over the past five years, ExxonMobil has invested more than $4 billion in research and development. We remain focused on breakthrough concepts and process modifications that enhance performance across our business lines.
Long-term financial resource management
ExxonMobil’s responsibility to our customers is to provide competitively priced energy supplies while delivering value to our shareholders. Despite the economic downturn, we continued investing at record levels in 2009—more than $27 billion in capital and exploration expenditures for the year—and we expect to invest more than $125 billion over the next five years.
Creating shareholder value. Over the long term, successful business investments and efficient operations should translate into share price appreciation, which, combined with dividends and share purchases, provides superior total shareholder return. This approach has consistently resulted in stock performance that outpaced the Standard & Poor’s 500 Index during the previous 5-, 10-, and 20-year periods.
View chart: Cumulative Distribution to Shareholders
(over past five years)
Approximately 2.5 million individual shareholders own about 40 percent of ExxonMobil’s common stock. The remaining 60 percent of shares are owned by institutions, including those that manage mutual funds and pension funds. For more than 100 years, the Corporation has paid dividends. In 2009, shareholder distributions from dividend payments and net share purchases totaled $26 billion. Annual dividend payments per share have increased for 27 consecutive years—by 7.1 percent in 2009 and more than 56 percent since 2004.
Reserves replacement. At year-end 2009, ExxonMobil had proved reserves totaling over 23 billion oil-equivalent barrels or nearly 16 years of reserve life at current production levels. In 2009, we replaced 133 percent of production including property sales and 134 percent excluding property sales as determined on ExxonMobil’s basis. Our five-year average replacement ratio was 114 percent. We have replaced more than 100 percent of production for 16 consecutive years, reflecting our strategic focus on resource capture and a disciplined approach to investment and project execution.
Taxes. In 2009, ExxonMobil’s worldwide tax expenses amounted to nearly $79 billion, about four times our earnings in the same period. In 2009, ExxonMobil’s worldwide effective income tax rate was 47 percent.
