So, I think -- you know, my view is we're going to see the typical push-up in the summer and see margins rise. Today's call is being recorded. You remember, as we went through the pandemic, a lot of investments got stalled and pulled back. Thanks for joining us today. And so, that -- the Europe set is the price setter for global markets ex-transportation. During the presentation, we'll make forward-looking comments, which are subject to risks and uncertainties. In 2014, Mr. Woods was elected senior vice president of Exxon Mobil Corporation. WebWe believe that this technology will address one of the largest environmental challenges of today, CO 2 emissions from industrial and commercial exhaust streams and power generation, said Jason Few, President and Chief Executive Officer of FuelCell Energy. Devin McDermott -- Morgan Stanley -- Analyst. Invest better with The Motley Fool. In 2007, he served as Vice President of Process Safety and Reliability, where his responsibilities included the creation of the overall management system for refining operations as well as the technical standards and work processes that drive operational excellence. Can you give us an update where you are in Mozambique and also in the Papua New Guinea LNG? Obviously, we need to be convinced that that will sustain that progress. Jason Fraser serves as Executive Vice President and Chief Financial Officer. Be exceptional. 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. We're never going to get out in front of the board of directors. We described some of them in our cautionary statement here on Slide 2. The high quality of the directors, officers and employees of Jennifer Driscoll -- Vice President, Investor Relations. Aug. 30, 2022, Who we are In 1999, he moved to Investor Relations, and in 2004 was named Vice President of Investor Relations. 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. Aug. 13, 2020. He earned hisBachelor of Arts and Juris Doctor degrees from the University of Oklahoma. Paul Grewal, chief legal officer at Coinbase, sits down with CNBCs MacKenzie Sigalos at Consensus 2023 to discuss the companys response to the SECs threat of enforcement action. So, you know, right now, we're not incurring a negative cost of carry on that cash balance, and that's certainly one of the things that we look at as well. The last point I'd make on refining margins, which I think is somewhat structural, typically, the marginal barrel in refining comes out of Europe. We'll go next to Paul Cheng with Scotiabank. Yeah. So, that was a help in the first quarter, some of that feed optimization, and that'll play into it as well. Prior to joining Valero, Fisher worked for the law firm of Fulbright & Jaworski. And so, you generally see refining margins drop off here in kind of this valley between the supply coming back and then demand picking up as you head into early summer and on through the year. You've got high carbon prices in Europe. So, we feel really good about where we're at today on our balance sheet. And frankly, I think it's early with China. I think jet demand and transportation looks like it's kind of trending up. ExxonMobil The sound science of cleaner energy: Jenny Seagraves. The Foundation of Our Success. I think good progress in both PNG and Mozambique. Also, please remain on the line in case we need to ask any clarifying questions. Good day, everyone, and welcome to this ExxonMobil Corporation first quarter 2023 earnings call. Guyana, we're pleased to announce that we reached final investment decisions for Uaru, fifth offshore project, which will bring on even more production from this low-cost, low-carbon intensity resource. With respect to that, we've had good progress with the government in PNG in terms of getting the agreements that we need signed and helping us move forward. That's, I think, really what's going to underpin where we focus our attention. WebExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the worlds growing energy needs. And frankly, that's how you need to think about this business. We actually have put an additional disclosure in our press release. Bram holds a Bachelor of Science degree in chemical engineering from the University of Missouri-Rolla, now known as Missouri University of Science & Technology. CIO. I wanted to ask a question on the downstream business and given your global reach there. Cost basis and return based on previous market day close. Overall, I'd say the organization is doing a good job at looking to offset inflation and what's obviously been a higher inflation environment recently. And now, let me turn it back to the operator to conclude our call. The jump came Yeah. Thomas earned a business administration degree in quantitative analysis from California State University-Fresno in 1983, graduating Magna Cum Laude. ExxonMobil ( XOM 1.28%) Q1 2023 Earnings Call. Compared to the first quarter of 2022, we added about 300,000 oil-equivalent barrels per day to global supply, primarily from a 40% increase in production from Guyana and the Permian Basin. And as you move in the value chains, the opportunity to trade along that value chain and generate insights and advantage along the value chain changes pretty dramatically. Sam Margolin -- Wolfe Research -- Analyst. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Thanks. He joined the company from AMD, where he served as head of research and advanced development. At Premcor and its predecessor, Clark Refining & Marketing, he also held positions in strategic planning, mergers and acquisitions, and planning and economics. Better Dividend Buy: ExxonMobil vs. Enbridge. So, if you'll allow me, I'll throw that at you. And as the situation improves and we feel comfortable that we can successfully go in there and develop the project, we'll take steps to go do that in conjunction with Total and the work that they're doing there. So, a caveat, everything I say with the recognition that given the impact that demand has on the margins, given the fairly static supply side of the equation, it's often difficult to know exactly where things are going to go. Can you give us a -- thank you. And so, I think, you know, our organizational construct today gives us a much better line of sight and opportunity to optimize in the trading space. And I think I'll just -- you know, I'll catch that with, historically, you know, Exxon had kept a very lean balance sheet on both sides relative to sort of the production base and the cash flow base. We believe that this technology will address one of the largest environmental challenges of today, CO 2 emissions from industrial and commercial Darren, can I ask, in Mozambique, Total seems to be optimistic about the security on the ground. Soon thereafter, Mark was promoted to Assistant Controller, and ultimately, Senior Vice President of Accounting, in 2012. I think you're going to see some movement in that up and down. Hi. Is there some sort of portfolio effect in here that we should be picking up and how does that rate through the year do you think? Jack Williams was elected senior vice president of Exxon Mobil Corporation in 2014. Also, please note that we provided supplemental information at the end of our earnings slides, which are posted on the website. ExxonMobil's supply chain will consolidate supply chain activities globally. Quite a dynamic market. I think we've been pretty consistent as we've talked about it. It is very well positioned on a cost of supply curve. Gorder served as Valeros Executive Vice President-Marketing and Supply, following tenure as Senior Vice President for Corporate Development and Strategic Planning. Dan Clark The deputy general counsel of Exxon Mobil Corp. has been elected by the companys board of directors to replace general counsel Randall Ebner when he In 2007 he was appointed acting deputy attorney general by then-president George W Bush. I'll delicately ask this question if I may. So, I feel good about the progress that we've got there -- we're making there. WebExxonMobil. Spotify Technology SA s chief executive officer is engaged in a Washington charm offensive this week that he hopes will convince the US government to curb the You know, one is just improving the overall productivity across our workforce. We're seeing reports that Asian refiners are contemplating run cuts while margins in the U.S. are still really robust. That -- I think -- you know, we've been developing that approach, fine-tuning it, you know, testing it, and evolving that concept. We'll go next to Roger Read with Wells Fargo. Former EVP of Development at Epic Games will lead innovation and technology strategy for Yuga's next Thank you. Before that he was the vice president responsible for Asia projects in ExxonMobil Development Company. But I would just say, you know, generally, as we think about the dividend, we try to keep the long term in mind and also be extremely conscious of the commodity cycles and the variability and the volatility that we see in the marketplace and making sure that we establish a level of dividends that are reliable, sustainable, and I'd like to see those grow with time. That's what the organization is going to be doing. 10 stocks we like better thanExxonMobilWhen our analyst team hasa stock tip, it can pay to listen. We like what we see there. Our presentation and prerecorded remarks are available on the new investor relations section of our website. The question is obviously when, but that will come. I think just I'd speak to maybe the LNG portfolio as a whole. But one that is very focused on significantly growing the value proposition there, really around our footprint. The Motley Fool has no position in any of the stocks mentioned. And so, we've got a really streamlined and a good view of the marketplace. Then I've got a quick follow-up, please. Good morning. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. So, we're not -- we don't have to sell anything. Unlocking the potential of advanced recycling: Matthew McConomy. Article Tags: appointment. So, you know, that's a big part of our overall strategy and mixing up in both the chemical business and across our product solutions business, and we feel very good about the results that's bringing. We've now integrated our upstream into those value chains. And I'm wondering if you see that dynamic as kind of balanced where cracks in Asia are zero, but margins in the U.S. are still 20, and that's kind of representative of the market structure that we're in, or do you expect the weakness in Asia margins to kind of force U.S. refining margins lower in the near term? And you see us fight, certainly during the pandemic year, fight really hard to make sure that we sustain that. Have a nice weekend, everyone. But generally speaking, that happens. Mr. Williams, a native of Mansfield, Ohio, is a member of the Society of Petroleum Engineers and a member of the Board of Visitors for the Vanderbilt School of Engineering. So, just to be clear, we've talked about a specific time period externally because we thought that would be helpful in transparency. 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. June 17, 2021, Who we are Bram moved to San Antonio in 2006 to serve as Vice President-Northeast/West Coast Optimization, added Mid-Continent operations to his duties in 2007 and moved to a similar role over Gulf Coast operations in 2009. So, there will obviously be periods of time where things constrain that. April 27, 2023 at 06:45 AM EDT. As I said earlier, that has historically come out of Europe, and their cost structures have increased, and so that marginal barrel is now higher, which is underpinning higher Gulf Coast refining. And, you know, we obviously have an advantage in a very heavy U.S. Gulf Coast footprint kind of relative to the global footprint, and that helped us in the sequential improvement in margin. Yeah. He began his career in 1987 as a process engineer at Amoco Oil's Whiting Refinery, progressing through various engineering, operations and planning positions. IRVING, Texas-- ( BUSINESS WIRE )--Exxon Mobil Corporation said today that Lawrence Larry W. Kellner and John D. Harris II have joined its board of directors. We're very much on track for the 9 billion at the end of this year relative to 2019. 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. 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. It's obviously something that we look at regularly, and we know it's important to ensure that dividend is competitive and growing. Other past positions include oversight of the companys North Slope and Cook Inlet interests in Anchorage, Alaska; deputy production manager for the companys South China Sea operations in Malaysia; two years in the U.S. upstream planning organization; operations superintendent for the company's East Texas field areas; and operations manager for the companys Gulf Coast and offshore California properties. So, I was wondering if you could talk a little bit about the productivity trends and the driver of the strong results that you're seeing there and then, also, how you're thinking about the evolution of production for the balance of this year? He was earlier associated with Nissan Motor Corporation, Collabera, Safexpress Private Limited, IBM and Cognizant Technology. We certainly saw that coming out of the pandemic with some of the logistics constraints. That has been, you know, a source of not only demand but also of exports. Is it a Top Stock to Buy? We're always looking for an opportunity for an acquisition and one that grows value and it's got to be value-accretive. Thanks for taking my question. Throughout his career with Valero and UDS, Lashway has held critical leadership positions in the commercial and corporate development groups, and has been an integral part of key transportation and logistics projects, including the initial public offering of Shamrock Logistics L.P., the predecessor to NuStar, and its acquisition of Kaneb Pipe Line Partners L.P. Julia Rendon Reinhart serves as Senior Vice President and Chief Human Resources Officer, responsible for Valeros human resources operations companywide as well as global security, facilities and administrative services. To make the world smarter, happier, and richer. If you look at the quarter, you know, we more than offset inflationary cost pressure with the structural savings that we were able to generate. From 2007-2009, he was the vice president of engineering for ExxonMobil Production Company. U.S. Money Supply Is Doing Something It Hasn't Done in 90 Years, and It May Signal a Big Move for Stocks, Why I Refuse to Chase the Maximum Social Security Benefit, Social Security Cuts May Be Coming. 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. Good morning. We'll go next to Ryan Todd with Piper Sandler. This ongoing success reflects the hard work of our people, executing our strategic priorities and fully leveraging our competitive advantages. With that, operator, please open up the line for our first question. Apr 24 2023 - Wilmington, MA. Tyson David - Safety and Security Manager - ExxonMobil - LinkedIn Exxon Mobil's compensation committee approved an increase in the annual salary of Chief Executive Officer Darren Woods to $1.88 million from $1.70 million this Thanks for the question. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. We plan to build on our record 2022 results, leveraging the unique insights we gained from participating across each of our value chains and all along their entire length, with a global operating footprint larger than any of our competitors. He also has served as Chief Commercial Officer and President of Valero Europe. He oversaw all commercial trading and related activity for the company, including Crude and Feedstock Supply and Trading, Products Supply and Trading, Wholesale Marketing, Logistics Operations, Commercial Business Development, Transportation and Specialty Products Marketing. I'm happy to answer that. This article is a transcript of this conference call produced for The Motley Fool. We can trade across those value chains. The Permian is doing well. I'll go ahead and take that, Sam. I'm just wondering how vigorously are you pursuing this opportunity and how long do you expect it to take to get to where you want to be on the trading front. So, what does a chief technology officer do exactly? That's true for any of the areas of our portfolio where we've got, you know, a substantial business today and ongoing technology work to make advances. But I would -- I'd make the same. We believe that this technology will address one of the largest environmental challenges of today, CO 2 emissions from industrial and commercial exhaust streams and power generation, said Jason Few, President and Chief Executive Officer of FuelCell Energy. By: Materialise via Business Wire. Mr. Chapman has served as a member of the board of directors and executive committee of the American Chemistry Council, the board of directors of the International Council of Chemical Associations, and the board of directors and executive committee of the National Association of Manufacturers. Prior to Valero, Bhullar was an Investment Banker focused on the Energy sector at J.P. Morgan and Citigroup. [Operator instructions] We'll go first to Neil Mehta with Goldman Sachs. I just want to ask you if you feel that you need to backfill your Permian position at any time in the future, and I'll leave it there. Analog Devices, Inc. (Nasdaq: ADI) today announced the appointment of Alan Lee to the position of Chief Technology Officer (CTO). That's work that we've got to demonstrate to ourselves. Good morning. Homer Bhullar is Vice President Investor Relations and Finance. Mike Seavers Joins Yuga Labs as Chief Technology Officer. Combining our engineering and research kind of groups collectively together. Yeah. Darren Woods -- Chairman and Chief Executive Officer. July 19 (Reuters) - Exxon Mobil Corp's (XOM.N) new chief financial officer Kathyrn Mikells is the first woman and external hire to join the oil major's management You know, all else held equal, a bigger company means a bigger working capital needs. Mr. Chapman returned to ExxonMobil Chemical Company in 2011 as senior vice president in charge of the companys global polymers businesses. Sorry. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Roger Read -- Wells Fargo Securities -- Analyst. 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. I'll try and circle around that kind of suite of questions for you, Roger. Thomas has served Valero and its predecessors since 1984. I think, you know, these -- like all of the businesses that we're in, the underlying drivers of the chemical margins tend to be the commodity chemicals that are driven by supply demand and the balances or imbalances in the supply demand. The Motley Fool has a disclosure policy.

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