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Earnings in our product solutions business benefited from the team's solid operational execution, with top-quartile turnaround cost and schedule performance during a particularly heavy planned maintenance period. Bhullar joined Valero in 2014. Yeah. TOP TIER certified fuel* and top-tier service at our Valero branded stations. Chief Technology Officer I don't, frankly, see that changing in the short term. Fisher began his career with Valero in 1997, when he joined Valeros Corporate Law Department. And so, that's the model that I have in my mind. I'll start that, then, Kathy, if you got anything to add to it. As chief technology officer and executive vice president, Redon will be responsible for developing and delivering clean alternative fuel systems products from concept to customers in the global transportation and off-road markets while effectively implementing global integration strategies to optimize resource utilization worldwide. Exxon Mobil raises CEO, top executives base pay | Reuters And what we just announced is taking the trading organizations that today are somewhat dispersed through the organization and consolidating those into one centralized trading organization for the whole of the corporation. So, I'd start by saying, overall, we feel really good about the progress that we've made. Mr. Woods was appointed president of ExxonMobil Refining and Supply Company and vice president of Exxon Mobil Corporation in 2012. In 2014, Mr. Woods was elected senior vice president of Exxon Mobil Corporation. He has been with the company since 1989 and has served in many leadership positions. I think jet demand and transportation looks like it's kind of trending up. And then we'll see how the rest of the year plays out, but we're sticking, at this point, to same year-end guidance that we gave late last year. Walsh has served in many different leadership roles within Valero's legal department. And I think we're striking a pretty even balance in that regard. Good day, everyone, and welcome to this ExxonMobil Corporation first quarter 2023 earnings call. We like -- you know, we've brought talent in there. She is a native of Chicago. Experience Chief Technology Officer ExxonMobil Jan 1999 - Present 24 years 4 months. Amazon.com Inc. is pulling the plug on its line of Halo health devices as Chief Executive Officer Andy Jassy seeks to Thomas has served Valero and its predecessors since 1984. Longer term, I think it comes back to what happens in China. Hi. 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. This may be a bit of a follow-up on the questions previously about cost structure and the balance sheet. Their exports have been higher in the first quarter, but, you know, it depends to see how those play out going forward. So, my expectation is, you know, we've got an inventory of things going forward and would expect to see, in my mind, kind of consistent rate of being out in the market and basically finding -- seeing if we can find buyers who have a higher use for the assets than we do and, therefore, a better value and, therefore, give space. Rich Walsh serves as Senior Vice President and General Counsel. The US energy firm said cost-cutting measures also contributed to its record $11.4bn (9.1bn) first-quarter profits, up from $5.5bn a year earlier. If I put that to the side, the company has run about, I'll call it, 19 billion, 20 billion annually in depreciation and amortization. Yeah. WebExxonMobil's key executives include Darren W. Woods and 13 others. ExxonMobil Our management team I mean, our capital allocation approach, I think, has been very consistent and very clear. ExxonMobil has a long history of leadership in the petroleum and petrochemical industries. So, if you'll allow me, I'll throw that at you. Thanks. So, that polypropylene unit that we brought on, it really -- what is a pretty low point in the polypropylene market to make earnings -- positive earnings on a brand-new piece of kit that starts up in the lowest of the cycle is, I think, a testament to the strength of the projects that we are investing in and bringing in online. 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. Thanks for joining us today. He is a native of Stoke-on-Trent, England. Copyright 2003-2023 Exxon Mobil Corporation. We are committed to being an outstanding corporate citizen and employer, ESG: Environmental, Social and Governance. But I was wondering, Darren, if you could just address how and remind us how you're thinking about dividend growth, right, because we've got, you know, clear evidence here that you've got, you know, foundational earnings growth. Aug. 13, 2020. April 27, 2023 at 06:45 AM EDT. But in 2021, Exxon Mobil Chairman and CEO Darren Woods faced a rebellion from his board. Chief So, we're not -- we don't have to sell anything. Through investments in advantaged assets, mix improvements, and cost and operating discipline, we are delivering the structural earnings improvements outlined in our corporate plan update last December and expanding the energy supplies needed to meet growing global demand. Stock Market | FinancialContent Business Page Exxon Mobil adds first woman top-tier executive with external CFO Better Dividend Buy: ExxonMobil vs. Enbridge. And so, that's a big area of savings for us, and that's another organization that we have recently centralized in our global operations and sustainability group. Yeah. You saw sequential margin improvement in your chemicals products business driven by advantaged ethane pricing. 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. And then just the last comment, like does the program end? So, just wondering if you could remind us, you know, sort of on a mid-cycle basis how to think about, you know, and how the board thinks about dividend growth because, certainly, you've de-risked some of those foundational earnings. Also, please note that we provided supplemental information at the end of our earnings slides, which are posted on the website. Making the world smarter, happier, and richer. ExxonMobil Eric Fisher serves as Senior Vice President-Wholesale Marketing and International Commercial Operations, responsible for global wholesale marketing, including administration of London, Montreal and Dublin operations and the specialty products marketing business. He joins from Strides where he served as CIO. Homer Bhullar is Vice President Investor Relations and Finance. So, what does a chief technology officer do exactly? First, giant hedge fund D.E. Operator. We work very closely with Total, obviously, given the same exposures and the work that we're doing there together, so, I would tell you, it's kind of a hand-in-hand approach that we're taking there, sharing information. We've been, I think, pretty successful at consistently putting assets in the market and realizing the value of those. chief You know, that balance sheet gives us all the firepower and confidence we need to succeed across a very wide variety of market conditions, which is obviously what this industry faces. Who we are ExxonMobil India announces new CEO and Lead Country Manager I think three-month treasuries are at 5% today. In 2010, he was appointed vice president of supply and transportation, based in Fairfax, Virginia. But I would -- I'd make the same. Cash flow from operations totaled $16.3 billion and our net debt-to-capital ratio declined to 4%, further increasing the strength of our balance sheet while supporting shareholder distributions of $8.1 billion in the quarter, including $3.7 billion in dividends. 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. If you look overall at where our number of -- I'd say different programs are driving savings for us. The -- this is really around trading on the value created through the transformation of molecules and developing products that people want and then moving those products around the world. If you think about how that's manifested itself in upstream, you know, it's been a significant reduction in what I would describe as above field costs. And now, please turn to Slide 3 for Darren's remarks. The other point I would make is, you know, feed and feed optimization is a big part of the margin equation as well. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Prior to attending the University of Texas, Fraser served in the U.S. Army in 1986-1990. He also holds a Master of Business Administration degree from Northwestern's Kellogg School of Management in Evanston, Illinois. 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. Apr 28, 2023, 8:00 a.m. We'll go next to Ryan Todd with Piper Sandler. Be exceptional. Mr. Woods is currently chairman of the National Petroleum Council, and he serves on the board of directors of the American Petroleum Institute and the board of trustees of the Center for Strategic and International Studies. 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. With that, let me turn the call over to Jennifer. That's, I think, really what's going to underpin where we focus our attention. Mr. Berges, 46, most recently served as CFO for Cheops Technology nv/sa, an industry-leading managed service provider in secure IT infrastructures and cloud computing, where he was also a member of the groups Executive Committee. But if you go further back to some of the really high cycles, we carried more cash, and it reflected the commodity cycle and the nature that, typically, we're bringing in a lot of cash at the top of the commodity cycle. We're pleased to have delivered $11.4 billion of earnings, a record first quarter following a record year. Obviously, Kathy was on the Wire this morning talking about how picky Exxon would be on M&A. Sorry. And we had talked about the fact that we would expect our cash balance post the end of the year to kind of ebb and flow, depending on how market prices and margins evolve. Tyson David - Safety and Security Manager - ExxonMobil - LinkedIn A public charity and Valero's philanthropic arm. I think putting aside the press reports of the media, we've talked about this, I think, starting back in 2018. Thanks for joining us today. 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. We did a lot of work over the last couple of years to validate what we thought the opportunity size was there and what would be needed to get after that. Yeah. So, that's how I think about it. Chief Technology Officer ExxonMobil reports record first-quarter profits of $11.4bn Have we turned a corner in the chemicals environment, and can you talk about how you see the trajectory of margins in that business over the course of 2023? Massachusetts Institute of Technology. We're in the market to find value, and we're willing to kind of let volumes do what they will do in the search for making sure that anything that we bring into the portfolio is accretive and is a unique value contribution for the shareholders. Thanks very much. In 2007 he was appointed acting deputy attorney general by then-president George W Bush. I'll try and circle around that kind of suite of questions for you, Roger. Darren W. Woods Chairman and Chief Executive Officer Kathryn A. Mikells Senior Vice President, Chief Financial Officer Neil A. Chapman Senior Vice President Jack P. Williams Senior Vice President Angela F. Braly Director Steven A. Kandarian Director Gregory J. Goff Director Spotify Chief Goes to Washington in His Crusade Against Apple