Economic Snapshot: Exxon Mobil
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LOCAL ECONOMIC SNAPSHOT | ENERGY By ELIZABETH SOUDER Staff Writer [email protected] The sun never sets on the Exxon Mobil Corp. empire. The world’s largest publicly traded oil company, based in Irving, has operations on six continents and dozens of countries. Here is a taste of the scope of our hometown company: The bottom line Bruce Bullock, director of Southern Methodist University’s Maguire Energy Institute Rex Tillerson, chief executive of Exxon Mobil Corp., at 2011 annual meeting Elizabeth Souder, staff writer, The Dallas Morning News “The shale business has really changed the game not only in terms of the risk and the technology of the business, but also how you measure the business. It’s become much more of a manufacturing- oriented business, and reserves are essentially looked at as almost inventory.” “Exxon has been investing in shale production in politically stable places, such as North America. But here at home, the company has run into low natural gas prices. Could exports be the answer?” “We would have expected economic recovery to have been stronger than it has been. That has clearly had a downward effect on natural gas prices in North America … These low domestic gas prices are having an effect on our unit profitability.” Around the world with Exxon Mobil A global giant SOURCES: Exxon filings; Reuters; Bloomberg News; ESRI Canada: Revenue in 2011 was $34.6 billion. Exxon completed 124.2 exploration and development wells. The company owns majority stakes in four refineries and one chemical plant. Exxon has 1,813 retail sites, including 483 company-owned. ASIA PACIFIC Exxon has 5,333 retail sites including 1,866 company-owned. China: Exxon has a minority ownership in one chemical plant, 60 percent ownership of Castle Peak Power Co., which operates a coal-fired power plant in Hong Kong, and a 25 percent stake in Fujian Refining & Petrochemical Co. Thailand: Exxon’s net onshore acreage is 21,000 acres. Exxon owns a majority stake in a refinery and a chemical plant. Malaysia: Exxon completed 8.5 development wells in 2011. Singapore: Exxon’s 2011 revenue was $14.4 billion. Exxon owns one refinery and one chemical plant. Indonesia: Exxon completed 3.4 exploration wells in 2011. Papua New Guinea: Exxon completed 0.1 net development wells in 2011 and work continued on a liquefied natural gas project. Australia: Exxon completed 1.3 exploration wells in 2011 and construction continues on the Gorgon LNG project. New Zealand: Exxon owns Mobil Oil New Zealand Ltd. LATIN AMERICA Exxon has 1,894 retail sites including 544 company-owned. Venezuela: Venezuela expropriated Exxon’s assets in 2007. Colombia: Exxon owns a 99.7 percent stake in ExxonMobil de Colombia S.A. Argentina: Exxon completed 1.3 development wells in 2011. United States: In 2011, revenue was $150.3 billion. The company completed 1,318 exploration and development wells in Texas, Arkansas, Oklahoma, North Dakota, Montana, Pennsylvania, Colorado, California, the Gulf of Mexico and Alaska. Exxon has 9,009 retail sites, including 451 company-owned. Exxon owns five refineries, four chemical plants, and a stake in the Golden Pass LNG Terminal. Canada United States Venezuela Egypt Chad Nigeria Cameroon Equatorial Guinea Angola Argentina Colombia LATIN AMERICA AFRICA Alaska Ireland France Belgium Netherlands Russia Japan Germany Norway Italy Luxembourg United Kingdom Russia: Exxon completed 0.6 development wells in 2011 and has signed a strategic cooperation agreement with Rosneft for joint exploration and development. Japan: Exxon’s 2011 revenue in Japan was $31.9 billion. Exxon owns a majority of shares in three refineries, a 50 percent stake in a chemical plant, and a 50 percent stake in battery separator film company Toray Tonen Specialty Separator Godo Kaisha. MIDDLE EAST Exxon has 630 retail sites including 465 company-owned. Azerbaijan: Exxon completed 0.5 net development wells in 2011. Kazakhstan: Exxon owns a 25 percent interest in Tengizchevroil LLP and a 7.5 percent stake in the Caspian Pipeline Consortium. Iraq: Exxon completed 20.8 development wells in 2011. The company has negotiated production sharing contracts with the regional government of Kurdistan. Saudi Arabia: Exxon owns a 50 percent stake in a refinery and 50 percent stakes in two chemical plants. Qatar: Exxon completed 0.4 development wells in 2011 and participates in 61.8 tonnes per year gross liquefied natural gas capacity. Exxon owns a minority stake in one refinery, United Arab Emirates: Exxon completed 0.6 exploration wells in 2011. Yemen: Exxon holds 10,000 acres in production sharing. AFRICA Egypt: Exxon owns ExxonMobil Egypt (S.A.E.) Chad: Exxon completed 28 development wells in 2011. Nigeria: Exxon completed 7.3 exploration and development wells in 2011. Cameroon: Exxon owns a minority stake in Cameroon Oil Transportation Company S.A. Equatorial Guinea: Exxon completed 3.8 development wells in 2011. Angola: Exxon completed 5.2 exploration and development wells in 2011. EUROPE The company has 6,341 retail sites including 3,944 company-owned. Norway: Exxon participated in 2.4 exploration and development wells in 2011. The company owns one refinery. Netherlands: Exxon completed 11.2 exploration and development wells in 2011. The company owns one refinery and one chemical plant. United Kingdom: Exxon’s 2011 revenue was $34.8 billion. The company owns one refinery and one chemical plant, a 24 percent stake in South Hook LNG Terminal Co., and a 50 percent stake in petroleum additive maker Infineum Holdings. Ireland: Exxon owns Esso Ireland Ltd. Belgium: Exxon’s 2011 revenue in Belgium was $26.9 billion. Exxon owns one refinery, one chemical plant, and a minority stake in a second chemical plant. France: In 2011, revenue was $18.5 billion. Exxon owns a majority stake in two refineries and one chemical plant. Luxembourg: Exxon own ExxonMobil International Services. Germany: Revenue in 2011 was $17 billion, and the company completed 7.3 exploration and development wells. Exxon owns a minority share in one refinery. Italy: Revenue in 2011 was $16.3 billion. Exxon owns one refinery and a majority share of a second, as well as a 71 percent stake in Adriatic LNG. Azerbaijan Kazakhstan Iraq Saudi Arabia Qatar United Arab Emirates Yemen MIDDLE EAST China Thailand Malaysia Singapore Indonesia Papua New Guinea Australia New Zealand ASIA PACIFIC EUROPE 2,000 miles N Exxon’s oil production (Thousands of barrels daily) Region 2010 2011 U.S. 408 423 Canada/ South America 263 252 Europe 335 270 Africa 628 508 Asia 730 808 Australia/ Oceania 58 51 Exxon’s natural gas production (Millions of cubic feet daily) Region 2010 2011 U.S. 2,596 3,917 Canada/ South America 569 412 Europe 3,836 3,448 Africa 14 7 Asia 4,801 5,047 Australia/ Oceania 332 331 The company’s total 2011 global revenue was $486 billion. Some major sources: Significant revenue sources Singapore Italy Germany France Belgium Japan Canada United Kingdom U.S. Country Portion of Exxon Mobil’s 2011 revenue $14.4 $16.3 $17 $18.5 $26.9 $31.9 $34.6 $34.8 $150.3 (Revenue figures in billions of dollars)
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Exxon Mobil, the world's largest publicly traded oil company, based in Irving, has operations on six continents and in dozens of countries.
Transcript of Economic Snapshot: Exxon Mobil
LOCAL ECONOMIC SNAPSHOT | ENERGY
By ELIZABETH SOUDERStaff Writer
The sun never sets on the Exxon Mobil Corp. empire. The world’s largest publicly traded oil company, based in Irving, has operations on six continents and dozens of countries. Here is a taste of the scope of our hometown company:
The bottom line
Bruce Bullock, directorof Southern Methodist University’s Maguire Energy Institute
Rex Tillerson, chief executiveof Exxon Mobil Corp.,at 2011 annual meeting
Elizabeth Souder, staff writer,The Dallas Morning News
“The shale business has really changed the game not only in terms of the risk and the technology of the business, but also how you measure the business. It’s become much more of a manufacturing-oriented business,and reserves are essentially looked at as almost inventory.”
“Exxon has been investing in shale production in politically stable places, such as North America. But here at home, the company has run into low natural gas prices. Could exports be the answer?”
“We would have expected economic recovery to have been stronger than it has been. That has clearly had a downward effect on natural gas prices in North America … These low domestic gas prices are having an effect on our unit profitability.”
Around the world with Exxon Mobil
A global giant
SOURCES: Exxon filings; Reuters; Bloomberg News; ESRI
Canada: Revenue in 2011 was $34.6 billion. Exxon completed 124.2 exploration and development wells. The company owns majority stakes in four refineries and one chemical plant. Exxon has 1,813 retail sites, including 483 company-owned.
ASIA PACIFICExxon has 5,333 retail sitesincluding 1,866 company-owned.China: Exxon has a minority ownership in one chemical plant, 60 percent ownership of Castle Peak Power Co., which operates a coal-fired power plant in Hong Kong, and a 25 percent stake in Fujian Refining & Petrochemical Co. Thailand: Exxon’s net onshore acreage is 21,000 acres. Exxon owns a majority stake in a refinery and a chemical plant.Malaysia: Exxon completed 8.5 development wells in 2011. Singapore: Exxon’s 2011 revenue was $14.4 billion. Exxon owns one refinery and one chemical plant.Indonesia: Exxon completed 3.4 exploration wells in 2011.Papua New Guinea: Exxon completed 0.1 net development wells in 2011 and work continued on a liquefied natural gas project.Australia: Exxon completed 1.3 exploration wells in 2011 and construction continues on the Gorgon LNG project. New Zealand: Exxon owns Mobil Oil New Zealand Ltd.
LATIN AMERICAExxon has 1,894 retail sites including 544 company-owned.Venezuela: Venezuela expropriated Exxon’s assets in 2007.Colombia: Exxon owns a 99.7 percent stake in ExxonMobil de Colombia S.A.Argentina: Exxon completed 1.3 development wells in 2011.
United States: In 2011, revenue was $150.3 billion. The company completed 1,318 exploration and development wells in Texas, Arkansas, Oklahoma, North Dakota, Montana, Pennsylvania, Colorado, California, the Gulf of Mexico and Alaska. Exxon has 9,009 retail sites, including 451 company-owned. Exxon owns five refineries, four chemical plants, and a stake in the Golden Pass LNG Terminal.
Canada
United States
Venezuela
Egypt
Chad
NigeriaCameroon
EquatorialGuinea
Angola
Argentina
Colombia
LATINAMERICA
AFRICA
Alaska
Ireland
FranceBelgium
Netherlands Russia
Japan
Germany
Norway
Italy
Luxembourg
UnitedKingdom
Russia: Exxon completed 0.6 development wells in 2011 and has signed a strategic cooperation agreement with Rosneft for joint exploration and development.
Japan: Exxon’s 2011 revenue in Japan was $31.9 billion. Exxon owns a majority of shares in three refineries, a 50 percent stake in a chemical plant, and a 50 percent stake in battery separator film company Toray Tonen Specialty Separator Godo Kaisha.
MIDDLE EAST Exxon has 630 retail sites including 465 company-owned.Azerbaijan: Exxon completed 0.5 net development wells in 2011. Kazakhstan: Exxon owns a 25 percent interest in Tengizchevroil LLP and a 7.5 percent stake in the Caspian Pipeline Consortium.Iraq: Exxon completed 20.8 development wells in 2011. The company has negotiated production sharing contracts with the regional government of Kurdistan.Saudi Arabia: Exxon owns a 50 percent stake in a refinery and 50 percent stakes in two chemical plants. Qatar: Exxon completed 0.4 development wells in 2011 and participates in 61.8 tonnes per year gross liquefied natural gas capacity. Exxon owns a minority stake in one refinery,United Arab Emirates: Exxon completed 0.6 exploration wells in 2011. Yemen: Exxon holds 10,000 acres in production sharing.
AFRICAEgypt: Exxon owns ExxonMobil Egypt (S.A.E.)Chad: Exxon completed 28 development wells in 2011.Nigeria: Exxon completed 7.3 exploration and development wells in 2011.Cameroon: Exxon owns a minority stake in Cameroon Oil Transportation Company S.A.Equatorial Guinea: Exxon completed 3.8 development wells in 2011.Angola: Exxon completed 5.2 exploration and development wells in 2011.
EUROPEThe company has 6,341 retail sites including 3,944 company-owned.Norway: Exxon participated in 2.4 exploration and development wells in 2011. The company owns one refinery.Netherlands: Exxon completed 11.2 exploration and development wells in 2011. The company owns one refinery and one chemical plant.
United Kingdom: Exxon’s 2011 revenue was $34.8 billion. The company owns one refinery and one chemical plant, a 24 percent stake in South Hook LNG Terminal Co., and a 50 percent stake in petroleum additive maker Infineum Holdings.Ireland: Exxon owns Esso Ireland Ltd.
Belgium: Exxon’s 2011 revenue in Belgium was $26.9 billion. Exxon owns one refinery, one chemical plant, and a minority stake in a second chemical plant.France: In 2011, revenue was $18.5 billion. Exxon owns a majority stake in two refineries and one chemical plant.Luxembourg: Exxon own ExxonMobil International Services.
Germany: Revenue in 2011 was $17 billion, and the company completed 7.3 exploration and development wells. Exxon owns a minority share in one refinery.Italy: Revenue in 2011 was $16.3 billion. Exxon owns one refinery and a majority share of a second, as well as a 71 percent stake in Adriatic LNG.
Azerbaijan
Kazakhstan
Iraq
SaudiArabia
Qatar
UnitedArabEmirates
Yemen
MIDDLEEAST China
Thailand
Malaysia
SingaporeIndonesia Papua
New Guinea
Australia
NewZealand
ASIAPACIFIC
EUROPE
2,000 miles
N
Exxon’s oil production(Thousands of barrels daily)
Region 2010 2011
U.S. 408 423
Canada/South America 263 252
Europe 335 270
Africa 628 508
Asia 730 808
Australia/Oceania 58 51
Exxon’s natural gas production(Millions of cubic feet daily)
Region 2010 2011
U.S. 2,596 3,917
Canada/South America 569 412
Europe 3,836 3,448
Africa 14 7
Asia 4,801 5,047
Australia/Oceania 332 331
The company’s total 2011 global revenuewas $486 billion. Some major sources:
Significant revenue sources
Singapore
Italy
Germany
France
Belgium
Japan
Canada
United Kingdom
U.S.
CountryPortion of Exxon Mobil’s
2011 revenue
$14.4
$16.3
$17
$18.5
$26.9
$31.9
$34.6
$34.8
$150.3
(Revenuefiguresin billionsof dollars)
