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ExxonMobil evaluating significant near-term capital and operating expense reductions; COVID-19

Green Car Congress

The company is closely monitoring the COVID-19 pandemic and has adjusted work arrangements to ensure a healthy work environment and support communities where it operates. For 2020, the company anticipated an investment level of up to $33 billion, depending on the progress of individual projects. million net acres.

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ExxonMobil ships first LNG cargo from $19B PNG LNG project ahead of schedule; serving China and Japan

Green Car Congress

Construction of PNG LNG in Papua New Guinea began in 2010, and took more than 190 million work hours to complete. The PNG LNG project is an integrated development that includes gas production and processing facilities in the Southern Highlands, Hela, Western, Gulf and Central provinces of Papua New Guinea.

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ExxonMobil adds 2.7B barrels oil equivalent to reserves; replaces 183% of 2017 production

Green Car Congress

billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183% of production. billion oil-equivalent barrels at year-end 2017. During 2017, proved additions at Upper Zakum in Abu Dhabi totaled more than 800 million barrels of crude oil. Exxon Mobil Corporation added 2.7 Resource Base.

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ExxonMobil seeking to boost growth, continue work on lower-emissions technologies including biofuels and carbon capture

Green Car Congress

ExxonMobil expects to increase annual earnings potential by more than 140% and double potential annual cash flow from operations by 2025 from 2017 adjusted earnings, assuming a 2017 oil price of $60 per barrel adjusted for inflation and based on 2017 margins. In Brazil, the company has acquired 2.3 —Darren Woods.