- First quarter loss of $610 million driven by $2.9 billion
noncash charge from market-related write-downs
- Reducing 2020 capital and operating spend to manage
unprecedented market challenges
- Contributing to global COVID-19 response through increased
production of sanitizer, masks and medical gowns; donations to food
banks, schools and first responders; and support for development of
a reusable face mask
Exxon Mobil Corporation (NYSE:XOM):
First
First
Fourth
Quarter
Quarter
Quarter
2020
2019
%
2019
%
Results Summary
(Dollars in millions, except per share
data)
Earnings/(Loss) (U.S. GAAP)
(610)
2,350
-126
5,690
-111
Earnings/(Loss) Per Common Share
Assuming Dilution
(0.14)
0.55
-125
1.33
-111
Identified Items Per Common Share
Assuming Dilution
(0.67)
-
0.92
Earnings Excluding Identified Items Per
Common Share
Assuming Dilution
0.53
0.55
-4
0.41
29
Capital and Exploration
Expenditures
7,143
6,890
4
8,460
-16
Exxon Mobil Corporation (NYSE:XOM) today announced an estimated
first quarter 2020 loss of $610 million, or $0.14 per share
assuming dilution, compared with earnings of $2.4 billion a year
earlier. Results included a $2.9 billion charge from identified
items, or $0.67 per share assuming dilution, reflecting noncash
inventory valuation impacts from lower commodity prices and asset
impairments. Cash flow from operating activities was $6.3 billion.
Capital and exploration expenditures were $7.1 billion.
Oil‑equivalent production was 4 million barrels per day, up 2
percent from the first quarter of 2019, with a 7 percent increase
in liquids partly offset by a 5 percent decrease in gas. Excluding
entitlement effects and divestments, oil‑equivalent production was
up 5 percent from the prior year, with Upstream liquids production
up 9 percent on growth in the Permian and Guyana.
In response to market conditions, ExxonMobil announced that it
is reducing 2020 capital spending by 30 percent and cash operating
expenses by 15 percent. Capex is now expected to be approximately
$23 billion for the year, down from the previously announced
guidance of $33 billion.
“COVID-19 has significantly impacted near-term demand, resulting
in oversupplied markets and unprecedented pressure on commodity
prices and margins,” said Darren W. Woods, chairman and chief
executive officer. “While we manage through these challenging
times, we are not losing sight of the long-term fundamentals that
drive our business. Economic activity will return, and populations
and standards of living will increase, which will in turn drive
demand for our products and a recovery of the industry.”
ExxonMobil’s capital allocation priorities remain unchanged. The
company’s objective is to continue investing in industry-advantaged
projects to create value, preserve cash for the dividend, and make
appropriate use of its balance sheet.
“Our company remains strong and we will manage through the
current market downturn as we have for decades,” said Woods.
“Today’s circumstances are certainly unique, but our people have
the experience, our business has the scale, and we have the
financial strength to see us through and emerge stronger than
ever.”
To minimize risks presented by COVID-19 and maintain operations,
ExxonMobil has implemented enhanced cleaning procedures and
modified work practices at sites around the world.
The company is maximizing production of products critical to the
global response, including isopropyl alcohol, which is used to
manufacture hand sanitizer, and polypropylene, which is used to
make protective masks, gowns and wipes. Manufacturing operations in
Louisiana have been reconfigured to produce medical-grade hand
sanitizer for donation to COVID-19 response efforts in Louisiana,
New Jersey, New Mexico, New York, Pennsylvania and Texas.
ExxonMobil is assisting in community-level relief efforts around
the world with donations to support food banks and provide fuel,
meals, and masks for health care workers and first responders. In
addition, ExxonMobil is supporting efforts to redesign and
accelerate production of reusable face masks and shields to help
alleviate the shortage for medical workers and first
responders.
First Quarter 2020 Business Highlights
Upstream
- Crude prices weakened significantly during the quarter,
reflecting an unprecedented combination of oversupply and the
impacts of COVID-19 on global demand.
- Natural gas prices were lower compared to the fourth quarter,
reflecting reduced demand due to mild seasonal weather and
COVID-19.
- Total production volumes were essentially unchanged from the
fourth quarter. Excluding entitlement effects and divestments, both
liquids and gas volumes increased 5 percent on growth and lower
scheduled maintenance. Production in Guyana at the Liza Phase 1
development continues to ramp up, while the first oil shipment was
successfully processed at the company’s refinery in Baytown, Texas.
Permian production grew 20 percent from the fourth quarter, and was
up 56 percent from the first quarter of 2019.
Downstream
- Industry fuels margins weakened driven by a significant demand
decrease for jet fuel and gasoline, impacting results in the
quarter. The company experienced favorable mark-to-market
derivative impacts associated with its trading activity.
- Scheduled maintenance activity was lower than fourth quarter,
while overall refining throughput was essentially flat as the
company managed refinery operations in line with fuel demand and
integrated chemical manufacturing needs.
Chemical
- While chemical realizations remain impacted by industry
capacity additions, the company experienced margin improvement
across the portfolio due to a significant drop in liquids feedstock
prices.
- ExxonMobil has increased production at its U.S. Gulf Coast and
Asia manufacturing facilities of critical raw materials used in
medical masks, gowns and hand sanitizer to help support front line
COVID-19 response. The additional monthly production of specialized
polypropylene and isopropyl alcohol is enough for 200 million masks
or 20 million gowns, and up to 50 million 4-ounce bottles of
medical-grade hand sanitizer.
- In April, the company reconfigured manufacturing operations in
Louisiana to produce medical-grade hand sanitizer for donation to
COVID-19 response efforts in Louisiana, New Jersey, New Mexico, New
York, Pennsylvania, and Texas. Initial production of 160,000
gallons of medical grade sanitizer – enough to fill nearly 5
million 4-ounce bottles – is being distributed to medical providers
and first responders. Additional donation locations are
planned.
Strengthening the Portfolio
- ExxonMobil made an additional discovery offshore Guyana at the
Uaru well during the first quarter, marking its 16th discovery on
the Stabroek Block and adding to the previously announced estimated
recoverable resource in Guyana of more than 8 billion
oil-equivalent barrels. Production from the Liza Phase 1
development continues to ramp up and will reach up to 120,000 gross
barrels of oil per day, utilizing the Liza Destiny floating
production storage and offloading vessel (FPSO). The Liza Unity
FPSO, which will be employed for the second phase of Liza
development and will have a gross production capacity of 220,000
barrels of oil per day, is under construction and expected to start
production in 2022. Pending government approvals and project
sanctioning of a third development, production from the Payara
field north of the Liza discoveries will increase gross production
by an additional 220,000 barrels of oil per day.
Disciplined Investing
- ExxonMobil announced that it is reducing its 2020 capital
spending by 30 percent and lowering cash operating expenses by 15
percent in response to low commodity prices resulting from
oversupply and demand weakness from the COVID-19 pandemic. Capital
investments for 2020 are expected to be about $23 billion, down
from the previously announced $33 billion. Reduced spending is
being achieved through increased efficiencies, lower market prices,
and slower project pace including the U.S. Permian Basin, Rovuma
LNG in Mozambique, and expansions of downstream and chemical
facilities. The 15 percent decrease in cash operating expenses is
driven by increased efficiencies, reduced activity, and lower
energy costs. ExxonMobil continues to monitor market developments
and evaluate additional reduction steps.
Advancing Innovative Technologies and Products
- ExxonMobil announced in April that it joined the Global Center
for Medical Innovation (GCMI) to initiate multi-sector and joint
development projects to rapidly redesign and manufacture reusable
personal protection equipment for health care workers, such as face
shields and masks, which are in short supply as a result of the
COVID-19 pandemic. ExxonMobil is applying its extensive knowledge
and experience with polymer-based technologies in combination with
GCMI to facilitate development and expedite third-party production
of innovative safety equipment that can be sterilized and worn
multiple times, including a new industrial-style mask that is being
fast-tracked for production to address shortages of N95 masks.
- ExxonMobil released a model framework for industry-wide methane
regulations and urges stakeholders, policymakers and governments to
develop comprehensive, enhanced rules to reduce emissions in all
phases of production. The framework is based on the company’s
voluntary methane reduction program, which involves prioritized
replacement of components with a high-leak potential at production
sites, technology enhancements to infrastructure and substantial
data gathering and research. ExxonMobil has reduced methane
emissions from its U.S. unconventional operations by 20 percent
since 2016 and remains on track to reach its target of a 15 percent
reduction across the company.
Results
and Volume Summary
Millions of Dollars
1Q
1Q
(unless noted)
2020
2019
Change
Comments
Upstream
U.S.
(704)
96
-800
Lower prices partly offset by higher
unconventional volumes; unfavorable identified items (impairment
-315, noncash inventory valuation -45)
Non-U.S.
1,240
2,780
-1,540
Lower prices and reduced gas volumes
partly offset by higher liquids volumes; unfavorable identified
items (noncash inventory valuation -218, impairment -41)
Total
536
2,876
-2,340
Prices -2,020, liquids volumes +290,
gas volumes -70, other +80, identified items -620
Production (koebd)
4,046
3,981
+65
Liquids +153 kbd: growth, higher
entitlements, and lower maintenance, partly offset by
divestments
Gas -528 mcfd: growth and higher
entitlements, more than offset by divestments and lower demand
Downstream
U.S.
(101)
(161)
+60
Higher margins, with lower industry
refining margins more than offset by favorable mark-to-market
derivatives, and improved manufacturing on lower scheduled
maintenance; unfavorable identified items (-411, mainly noncash
inventory valuation)
Non-U.S.
(510)
(95)
-415
Higher margins, with lower industry
refining margins more than offset by favorable mark-to-market
derivatives, and improved manufacturing, partly offset by
unfavorable foreign exchange and lower market demand; unfavorable
identified items (noncash inventory valuation -1,196, impairment
-335)
Total
(611)
(256)
-355
Margins +1,260, manufacturing +520,
market demand -50, forex/other -150, identified items
-1,940
Petroleum Product Sales (kbd)
5,287
5,415
-128
Chemical
U.S.
288
161
+127
Higher margins; unfavorable identified
item (impairment -90)
Non-U.S.
(144)
357
-501
Lower margins and volumes; unfavorable
identified items (-232, mainly noncash inventory valuation)
Total
144
518
-374
Margins +10, volumes -60, identified
items -320
Prime Product Sales (kt)
6,237
6,772
-535
Corporate and financing
(679)
(788)
+109
Results
and Volume Summary
Millions of Dollars
1Q
4Q
(unless noted)
2020
2019
Change
Comments
Upstream
U.S.
(704)
68
-772
Lower prices partly offset by lower
expenses and higher unconventional volumes; unfavorable identified
items (impairment -315, noncash inventory valuation -45)
Non-U.S.
1,240
6,069
-4,829
Lower prices partly offset by favorable
foreign exchange and tax impacts, and higher liquids volumes;
unfavorable identified items (noncash inventory valuation -218,
impairment -41, prior quarter -3,947 mainly Norway divestment)
Total
536
6,137
-5,601
Prices -1,720, volumes +240, other
+450, identified items -4,570
Production (koebd)
4,046
4,018
+28
Liquids +44 kbd: growth and lower
maintenance, partly offset by divestments
Gas -99 mcfd: growth and lower
maintenance, more than offset by divestments and lower
entitlements
Downstream
U.S.
(101)
895
-996
Lower margins on weaker industry refining
margins, reduced manufacturing contribution on increased downtime,
and year-end LIFO (-460); unfavorable identified items (-411,
mainly noncash inventory valuation)
Non-U.S.
(510)
3
-513
Higher margins on favorable mark-to-market
derivatives, improved manufacturing on lower scheduled maintenance,
and lower supply chain and marketing expenses, partly offset by
lower market demand, unfavorable foreign exchange, and year-end
LIFO (-80); unfavorable identified items (noncash inventory
valuation -1,196, impairment -335)
Total
(611)
898
-1,509
Margins +920, market demand -110,
supply chain and marketing expenses +300, year-end LIFO -540,
forex/other -140, identified items -1,940
Petroleum Product Sales (kbd)
5,287
5,482
-195
Chemical
U.S.
288
(2)
+290
Higher margins and lower expenses;
unfavorable identified item (impairment -90)
Non-U.S.
(144)
(353)
+209
Higher margins and lower expenses;
unfavorable identified items (-232, mainly noncash inventory
valuation)
Total
144
(355)
+499
Margins +540, expenses +250, other +30,
identified items -320
Prime Product Sales (kt)
6,237
6,569
-332
Corporate and financing
(679)
(990)
+311
Favorable tax and foreign exchange
impacts
Cash
Flow from Operations and Asset Sales excluding Working
Capital
Millions of Dollars
1Q
2020
Comments
Net income (loss) including noncontrolling
interests
(770)
Including ($160) million noncontrolling
interests
Depreciation
5,819
Including impairment impacts
Noncash inventory adjustment
2,245
Including $149 million noncontrolling
interests
Changes in operational working capital
(942)
Mainly inventory build
Other
(78)
Cash Flow from Operating
6,274
Activities (U.S. GAAP)
Asset sales
86
Cash Flow from Operations
6,360
and Asset Sales
Changes in operational working capital
942
Cash Flow from Operations
7,302
and Asset Sales excluding Working
Capital
First Quarter 2020 Financial Updates
During the first quarter of 2020, Exxon Mobil Corporation
purchased 6 million shares of its common stock for the treasury at
a gross cost of $305 million. These shares were acquired to offset
dilution in conjunction with the company’s benefit plans and
programs. The corporation will continue to acquire shares to offset
dilution in conjunction with its benefit plans and programs.
ExxonMobil will discuss financial and operating results and
other matters during a webcast at 8:30 a.m. Central Time on May 1,
2020. To listen to the event or access an archived replay, please
visit www.exxonmobil.com.
Cautionary Statement
Outlooks, projections, goals, targets, descriptions of strategic
plans and objectives, and other statements of future events or
conditions in this release are forward-looking statements. Actual
future results, including financial and operating performance, the
impact of the COVID-19 pandemic on results; planned capital and
cash operating expense reductions; total capital expenditures and
mix; cash flow, dividend and shareholder returns; business and
project plans, timing, costs and capacities; resource recoveries
and production rates; accounting effects resulting from market
developments and ExxonMobil’s responsive actions; and the impact of
new technologies, including to increase capital efficiency and
production and to reduce greenhouse gas emissions, could differ
materially due to a number of factors. These include global or
regional changes in the supply and demand for oil, natural gas,
petrochemicals, and feedstocks and other market conditions that
impact prices and differentials; the outcome of government policies
and actions, including actions taken to address COVID-19 and to
maintain the functioning of national and global economies and
markets; the impact of company actions to protect the health and
safety of employees, vendors, customers, and communities; actions
of competitors and commercial counterparties; the ability to access
short- and long-term debt markets on a timely and affordable basis;
the severity, length and ultimate impact of COVID-19 on people and
economies; reservoir performance; the outcome of exploration
projects and timely completion of development and construction
projects; changes in law, taxes, or regulation including
environmental regulations, and timely granting of governmental
permits; war, trade agreements and patterns, shipping blockades or
harassment, and other political or security disturbances;
opportunities for and regulatory approval of potential investments
or divestments; the actions of competitors; the capture of
efficiencies between business lines; unforeseen technical or
operating difficulties; unexpected technological developments; the
ability to bring new technologies to commercial scale on a
cost-competitive basis, including large-scale hydraulic fracturing
projects; general economic conditions including the occurrence and
duration of economic recessions; the results of research programs;
and other factors discussed under the heading Factors Affecting
Future Results on the Investors page of our website at
www.exxonmobil.com and in Item 1A of ExxonMobil’s 2019 Form 10-K.
We assume no duty to update these statements as of any future
date.
Frequently Used Terms and Non-GAAP
Measures
This press release includes cash flow from operations and asset
sales. Because of the regular nature of our asset management and
divestment program, we believe it is useful for investors to
consider proceeds associated with the sales of subsidiaries,
property, plant and equipment, and sales and returns of investments
together with cash provided by operating activities when evaluating
cash available for investment in the business and financing
activities. A reconciliation to net cash provided by operating
activities for first quarter 2020 is shown on page 6 and for 2020
and 2019 periods in Attachment V.
This press release also includes cash flow from operations and
asset sales excluding working capital. We believe it is useful for
investors to consider these numbers in comparing the underlying
performance of our business across periods when there are
significant period-to-period differences in the amount of changes
in working capital. A reconciliation to net cash provided by
operating activities for first quarter 2020 is shown on page 6 and
for 2020 and 2019 periods in Attachment V.
This press release also includes earnings excluding identified
items, which are earnings excluding individually significant
non-operational events with an absolute corporate total earnings
impact of at least $250 million in a given quarter. The earnings
impact of an identified item for an individual segment may be less
than $250 million when the item impacts several segments. We
believe it is useful for investors to consider these figures in
comparing the underlying performance of our business across periods
when one, or both, periods include identified items. A
reconciliation to earnings is shown for 2020 and 2019 periods in
Attachments II-a and II-b. Corresponding per share amounts are
shown on page 1 and in attachment II-b, including a reconciliation
to earnings per common share – assuming dilution (U.S. GAAP).
This press release also includes total taxes including
sales-based taxes. This is a broader indicator of the total tax
burden on the corporation’s products and earnings, including
certain sales and value-added taxes imposed on and concurrent with
revenue-producing transactions with customers and collected on
behalf of governmental authorities (“sales-based taxes”). It
combines “Income taxes” and “Total other taxes and duties” with
sales‑based taxes, which are reported net in the income statement.
We believe it is useful for the corporation and its investors to
understand the total tax burden imposed on the corporation’s
products and earnings. A reconciliation to total taxes is shown as
part of the Estimated Key Financial and Operating Data in
Attachment I.
References to the resource base and other quantities of oil,
natural gas or condensate may include estimated amounts that are
not yet classified as “proved reserves” under SEC definitions, but
which are expected to be ultimately recoverable. The term “project”
as used in this release can refer to a variety of different
activities and does not necessarily have the same meaning as in any
government payment transparency reports. Further information on
ExxonMobil’s frequently used financial and operating measures and
other terms including “Cash flow from operations and asset sales”,
and “Total taxes including sales‑based taxes” is contained under
the heading “Frequently Used Terms” available through the
“Investors” section of our website at www.exxonmobil.com.
LIFO Inventory
Crude oil, products and merchandise inventories are carried at
the lower of current market value or cost, generally determined
under the last-in first-out method (LIFO). The corporation’s
results for the first quarter of 2020 include an after-tax earnings
charge of $2,096 million from writing down the book value of
inventories to their market value at the end of the period. The
earnings impact may be adjusted upward or downward this year based
on prevailing market prices at the time of future evaluations. At
year-end, any required adjustment is considered permanent and is
incorporated into the LIFO carrying value of the inventory.
Reference to Earnings
References to corporate earnings mean net income attributable to
ExxonMobil (U.S. GAAP) from the consolidated income statement.
Unless otherwise indicated, references to earnings, Upstream,
Downstream, Chemical and Corporate and financing segment earnings,
and earnings per share are ExxonMobil’s share after excluding
amounts attributable to noncontrolling interests.
Exxon Mobil Corporation has numerous affiliates, many with names
that include ExxonMobil, Exxon, Mobil, Esso, and XTO. For
convenience and simplicity, those terms and terms such as
corporation, company, our, we, and its are sometimes used as
abbreviated references to specific affiliates or affiliate groups.
Similarly, ExxonMobil has business relationships with thousands of
customers, suppliers, governments, and others. For convenience and
simplicity, words such as venture, joint venture, partnership,
co-venturer, and partner are used to indicate business and other
relationships involving common activities and interests, and those
words may not indicate precise legal relationships.
Estimated Key Financial and Operating
Data
Attachment I
Exxon Mobil
Corporation
First Quarter 2020
(millions of dollars, unless
noted)
First
First
Fourth
Quarter
Quarter
Quarter
2020
2019
2019
Earnings (Loss) / Earnings (Loss) Per
Share
Total revenues and other income
56,158
63,625
67,173
Total costs and other deductions
56,416
59,336
60,759
Income (loss) before income taxes
(258
)
4,289
6,414
Income taxes
512
1,883
684
Net income (loss) including noncontrolling
interests
(770
)
2,406
5,730
Net income (loss) attributable to
noncontrolling interests
(160
)
56
40
Net income (loss) attributable to
ExxonMobil (U.S. GAAP)
(610
)
2,350
5,690
Earnings (loss) per common share
(dollars)
(0.14
)
0.55
1.33
Earnings (loss) per common share -
assuming dilution (dollars)
(0.14
)
0.55
1.33
Exploration expenses, including dry
holes
288
280
357
Other Financial Data
Dividends on common stock
Total
3,719
3,505
3,716
Per common share (dollars)
0.87
0.82
0.87
Millions of common shares outstanding
At period end
4,228
4,231
4,234
Average - assuming dilution
4,270
4,270
4,269
ExxonMobil share of equity at period
end
182,079
191,222
191,650
ExxonMobil share of capital employed at
period end
244,026
234,673
240,925
Income taxes
512
1,883
684
Total other taxes and duties
7,497
8,087
8,416
Total taxes
8,009
9,970
9,100
Sales-based taxes
4,485
4,985
5,205
Total taxes including sales-based
taxes
12,494
14,955
14,305
ExxonMobil share of income taxes of
equity companies
460
849
714
Attachment II-a
Exxon Mobil
Corporation
First Quarter 2020
(millions of dollars)
First
First
Fourth
Quarter
Quarter
Quarter
2020
2019
2019
Earnings/(Loss) (U.S. GAAP)
Upstream
United States
(704
)
96
68
Non-U.S.
1,240
2,780
6,069
Downstream
United States
(101
)
(161
)
895
Non-U.S.
(510
)
(95
)
3
Chemical
United States
288
161
(2
)
Non-U.S.
(144
)
357
(353
)
Corporate and financing
(679
)
(788
)
(990
)
Net income (loss) attributable to
ExxonMobil
(610
)
2,350
5,690
Identified Items Included in
Earnings/(Loss)
U.S. Upstream
Other Items (Inventory valuation,
Impairment)
(360
)
-
-
Non-U.S. Upstream
Asset Management
-
-
3,679
Tax Items
-
-
268
Other Items (Inventory valuation,
Impairment)
(259
)
-
-
U.S. Downstream
Other Items (Inventory valuation,
Impairment)
(411
)
-
-
Non-U.S. Downstream
Other Items (Inventory valuation,
Impairment)
(1,531
)
-
-
U.S. Chemical
Other Items (Impairment)
(90
)
-
-
Non-U.S. Chemical
Other Items (Inventory valuation,
Impairment)
(232
)
-
-
Corporate and financing
Asset Management
-
-
(24
)
Corporate total
(2,883
)
-
3,923
Earnings/(Loss) Excluding Identified
Items
Upstream
United States
(344
)
96
68
Non-U.S.
1,499
2,780
2,122
Downstream
United States
310
(161
)
895
Non-U.S.
1,021
(95
)
3
Chemical
United States
378
161
(2
)
Non-U.S.
88
357
(353
)
Corporate and financing
(679
)
(788
)
(966
)
Corporate total
2,273
2,350
1,767
Attachment II-b
Exxon Mobil
Corporation
First Quarter 2020
First
First
Fourth
$
Millions
Quarter
Quarter
Quarter
2020
2019
2019
Earnings/(Loss) (U.S. GAAP)
(610
)
2,350
5,690
Identified Items Included in
Earnings/(Loss)
Noncash inventory valuation - lower of
cost or market
(2,096
)
-
-
Impairment
(787
)
-
-
Norway Upstream divestment
-
-
3,655
Non-U.S. tax item
-
-
268
Corporate total
(2,883
)
-
3,923
Earnings Excluding Identified
Items
2,273
2,350
1,767
$ Per Common
Share1
Earnings/(Loss) Per Common
Share
Assuming Dilution (U.S. GAAP)
(0.14
)
0.55
1.33
Identified Items Included in
Earnings/(Loss) Per Common Share
Assuming Dilution
Noncash inventory valuation - lower of
cost or market
(0.49
)
-
-
Impairment
(0.18
)
-
-
Norway Upstream divestment
-
-
0.86
Non-U.S. tax item
-
-
0.06
Corporate total
(0.67
)
-
0.92
Earnings Excluding Identified Items Per
Common Share
Assuming Dilution
0.53
0.55
0.41
1 Computed using the average number of
shares outstanding during each period.
Attachment III
Exxon Mobil
Corporation
First Quarter 2020
First
First
Fourth
Quarter
Quarter
Quarter
2020
2019
2019
Net production of crude oil, natural
gas
liquids, bitumen and synthetic oil,
thousand barrels per day (kbd)
United States
699
600
665
Canada / Other Americas
558
454
487
Europe
30
121
93
Africa
360
369
366
Asia
795
746
780
Australia / Oceania
38
37
45
Worldwide
2,480
2,327
2,436
Natural gas production available for
sale,
million cubic feet per day (mcfd)
United States
2,825
2,712
2,713
Canada / Other Americas
317
238
287
Europe
1,293
2,113
1,508
Africa
7
7
10
Asia
3,710
3,655
3,753
Australia / Oceania
1,244
1,199
1,224
Worldwide
9,396
9,924
9,495
Oil-equivalent production (koebd)1
4,046
3,981
4,018
1 Natural gas converted to an
oil-equivalent basis at 6 million cubic feet per 1 thousand
barrels.
Attachment IV
Exxon Mobil
Corporation
First Quarter 2020
First
First
Fourth
Quarter
Quarter
Quarter
2020
2019
2019
Refinery throughput (kbd)
United States
1,558
1,373
1,675
Canada
383
383
322
Europe
1,295
1,325
1,304
Asia Pacific
637
609
570
Other
187
196
182
Worldwide
4,060
3,886
4,053
Petroleum product sales (kbd)
United States
2,231
2,210
2,356
Canada
456
484
444
Europe
1,403
1,510
1,456
Asia Pacific
708
749
729
Other
489
462
497
Worldwide
5,287
5,415
5,482
Gasolines, naphthas
2,122
2,149
2,276
Heating oils, kerosene, diesel
1,867
1,914
1,903
Aviation fuels
383
386
399
Heavy fuels
256
299
217
Specialty products
659
667
687
Worldwide
5,287
5,415
5,482
Chemical prime product sales,
thousand metric tons (kt)
United States
2,195
2,322
2,294
Non-U.S.
4,042
4,450
4,275
Worldwide
6,237
6,772
6,569
Attachment V
Exxon Mobil
Corporation
First Quarter 2020
(millions of dollars)
First
First
Fourth
Quarter
Quarter
Quarter
2020
2019
2019
Capital and Exploration
Expenditures
Upstream
United States
2,798
2,548
2,848
Non-U.S.
2,328
2,813
3,243
Total
5,126
5,361
6,091
Downstream
United States
747
414
725
Non-U.S.
487
415
635
Total
1,234
829
1,360
Chemical
United States
597
552
786
Non-U.S.
185
144
213
Total
782
696
999
Other
1
4
10
Worldwide
7,143
6,890
8,460
Cash flow from operations and asset
sales
Net cash provided by operating
activities
(U.S. GAAP)
6,274
8,338
6,352
Proceeds associated with asset sales
86
107
3,092
Cash flow from operations and asset
sales
6,360
8,445
9,444
Changes in operational working capital
942
(2,257
)
1,641
Cash flow from operations and asset
sales
7,302
6,188
11,085
excluding working capital
Attachment VI
Exxon Mobil
Corporation
Earnings/(Loss)
$
Millions
$ Per
Common Share1
2016
First Quarter
1,810
0.43
Second Quarter
1,700
0.41
Third Quarter
2,650
0.63
Fourth Quarter
1,680
0.41
Year
7,840
1.88
2017
First Quarter
4,010
0.95
Second Quarter
3,350
0.78
Third Quarter
3,970
0.93
Fourth Quarter
8,380
1.97
Year
19,710
4.63
2018
First Quarter
4,650
1.09
Second Quarter
3,950
0.92
Third Quarter
6,240
1.46
Fourth Quarter
6,000
1.41
Year
20,840
4.88
2019
First Quarter
2,350
0.55
Second Quarter
3,130
0.73
Third Quarter
3,170
0.75
Fourth Quarter
5,690
1.33
Year
14,340
3.36
2020
First Quarter
(610
)
(0.14
)
1 Computed using the average number of
shares outstanding during each period.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200501005264/en/
ExxonMobil Media Relations, 972-940-6007
Exxon Mobil (NYSE:XOM)
Historical Stock Chart
From Mar 2024 to Apr 2024
Exxon Mobil (NYSE:XOM)
Historical Stock Chart
From Apr 2023 to Apr 2024