ExxonMobil Continues $34.65 Billion in Projects and Holds Consistent Investment Plans

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Researched by Industrial Info Resources (Sugar Land, Texas)--Regardless of business cycles, ExxonMobil (NYSE:XOM) (Irving, Texas) will continue to maintain a consistent approach to capital investment and operational excellence, Senior Vice President Mike Dolan said at the recent Merrill Lynch (NYSE:MER) (New York, New York) Global Energy Large Cap Conference. He said the business model helps to make ExxonMobil's Downstream and Chemical businesses integral parts of the company's core portfolio. The two business units had combined earnings averaging $10.6 billion per year over the last five years, or about one-third of the company's total, Dolan said. "Looking at the Downstream and Chemical more broadly, our 2007 combined earnings of more than $14 billion would rank sixth by profit on the Fortune 500 list," he said. "In other words, both the Downstream and Chemical businesses are significant contributors to our corporation's outstanding results and significant in their own right."

Downstream

ExxonMobil has 37 refining locations across the world: 11 in Europe, 15 in the Americas and 11 in the Asia Pacific region. It is the largest global refiner with a capacity of about 5.6 million barrels per day, or 6% of the world's capacity, Dolan said. "We have a strong presence in high-growth markets, such as China and Russia, where our business has more than doubled since 2000," he said. "The scale of our assets and the breadth of our global operations are competitive strengths that will allow us to generate more value than others over a wide range of market conditions."

Chemical

This business unit has 16 large integrated sites across the world: five in the Americas, eight in Europe/Africa and Middle East region, and three in the Asia Pacific region. ExxonMobil also has 33 smaller sites worldwide. More than 90% of the chemical capacity is integrated with the company's refineries or with natural-gas-processing plants.

As part of our International Industrial Database, Industrial Info is tracking 133 projects worth about $34.65 billion involving ExxonMobil. The projects range from $1 million inspections and upgrades to a $15 billion grassroot liquefied natural gas processing plant.

"The strength of our global portfolio, coupled with our disciplined and consistent business approach, allows us to maximize long-term value to our shareholders, regardless of the industry environment," Dolan said. "Our opportunity pipeline is full, and we believe that we are well positioned to face the challenges ahead."

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