That's been our history. I would say the short answer is no. So, that's how I would think about it. In terms of the Papua New Guinea, is there expansion talk? From 2010 to 2013, Mr. Williams was president of XTO Energy Inc., which ExxonMobil acquired in 2010. Chief Technology Officer And so, we justified that project on a transportation differential and felt that that provided a reasonable return, with the expectation that, on top of that, we would see the value of the additional fuels and the higher-value products that we were producing. The role can differ from company to company but usually includes everything from: Technology vision and strategy Architecture Innovation Software development Infrastructure She previously served as Senior Vice President-Information Services for Valero, managing the companys Information Systems Development, Support and Infrastructure teams. That's work that we've got to demonstrate to ourselves. Prior to joining Valero, he was Refinery Manager at Premcor's Lima Refinery. So, we feel pretty good about our cash balance. Now, let me cover the quarter's headlines. 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. I've talked about that in the past. Prior to joining Valero, Fisher worked for the law firm of Fulbright & Jaworski. 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. Internally, we don't actually manage this as, hey, there's a one-time period that we're focused on as opposed to we are focused on continuing to drive structural cost savings over time. Yeah. Maybe a question on the chemicals business. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. I think that that completes our queue. And so, that platform gives our traders a great base to optimize off of. The Permian is doing well. And then with time, that'll get balanced out based on transportation differentials. ExxonMobil (XOM) Q1 2023 Earnings Call Transcript It keeps us on track to meet our target of $9 billion by the end of this year. 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. 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. First, giant hedge fund D.E. Better Dividend Buy: ExxonMobil vs. Enbridge. So, that's how I think about it. I don't, frankly, see that changing in the short term. Aug. 30, 2022, Who we are 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. It's maintaining a very strong balance sheet. Our executive team is committed to operations excellence, disciplined management of capital and long-term value. The interlocking value of our guiding principles is based on Safety, Environment, Community, Employees and Governance. By: Materialise via Business Wire. Copyright 2003-2023 Exxon Mobil Corporation. Yeah. WebExxonMobil. We focused -- I'll remind you, on the Beaumont expansion, this is something that we began planning and developing many, many years ago, and it was really built on the Permian production and the changes and transportation differentials by bringing crude into the front end of the Beaumont refinery and making the intermediate products to fill our conversion capacity and backing out imports of intermediates and saving the transportation of those intermediates that are typically coming from afar. He joins from Strides where he served as CIO. Hello, Darren and Kathy. At Diageo, the global beverage manufacturer and marketer, she led all traditional corporate finance functions and oversaw the companys supply chain and procurement, strategy and business development, and shared services and information technology departments before her departure in June 2021. During the presentation, we'll make forward-looking comments, which are subject to risks and uncertainties. Thanks for joining us today. Stephen Richardson -- Evercore ISI -- Analyst. You saw sequential margin improvement in your chemicals products business driven by advantaged ethane pricing. And now, please turn to Slide 3 for Darren's remarks. Making the world smarter, happier, and richer. Kathryn A. We described some of them in our cautionary statement here on Slide 2. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. 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. 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. I'd say specifically and working through project concepts and designs and making sure that we're developing projects that are going to be on that left-hand side of the cost of supply curve, and bringing on production is very competitive in the marketplace to make sure that, for the long-term, we have a robust supply point there. Good morning. And then with Mozambique, obviously been on hold for a while given some of the challenges there, and we'll continue to keep a close eye on that. Yeah. Good morning. He joined Valero in 2001 in the Risk Management Department. Locke joined Valero in 2003 as an Audit Specialist in Valero's Internal Audit department where he earned several promotions and ultimately served as Executive Director of Internal Audit. Search. Fisher has served as President of European Commercial Operations, and in leadership roles in Investor Relations, Corporate Communications, Strategic Planning and Corporate Development. Obviously, Kathy was on the Wire this morning talking about how picky Exxon would be on M&A. He previously served as President, and as Chief Operating Officer, responsible for refining operations and commercial operations in marketing, supply and transportation. Private Company. This is true whether we're talking about the emissions reductions needed to put the world on a path to net zero or the production needed to provide Europe with affordable and reliable energy. WebExxonMobil's key executives include Darren W. Woods and 13 others. Rich Walsh serves as Senior Vice President and General Counsel. ExxonMobil Obviously, we need to be convinced that that will sustain that progress. In 2006, Mr. Chapman served as executive assistant to the chairman of Exxon Mobil Corporation and in 2007 as president of ExxonMobil Global Services Company. 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. April 27, 2023 at 06:45 AM EDT. Today's call is being recorded. In 1994, after earning a Master of Business Administration in Finance from the University of Chicago, she began a 16-year career at United Airlines Holdings Incorporated, where she served in several corporate planning and financial roles before being appointed senior vice president and chief financial officer in 2008. Good morning. That led to a very different development approach trying to work across -- you know, and this cube design, work across all the benches simultaneously to maximize ultimate recovery. The organizations will focus on leveraging our scale to drive efficiencies, improve operating and financial results, and importantly, deliver an improved experience for customers, vendors, and our people. Thanks for taking the question. Prior to joining Valero, Reinhart served as a Partner in the law firm of Bracewell & Giuliani LLP, where she defended employers in all phases of employment law. Before that he was the vice president responsible for Asia projects in ExxonMobil Development Company. Europe, by contrast, policy approach remains far more prescriptive and punitive. Independent and Diverse Board of Directors. ExxonMobil He is a native of Stoke-on-Trent, England. That's investing in the business and competitively advantaged high-return projects. That has been, you know, a source of not only demand but also of exports. I'll give you this one plus one. Stock Market | FinancialContent Business Page 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. Our board is committed to ongoing engagement with our stakeholders. That way, we can accommodate more questions from more people. We'll go next to Jason Gabelman with TD Cowen. In early April, we announced a long-term agreement with Linde to capture, transport, and permanently store up to 2.2 million metric tons of CO2 annually. During his more than 20 years with the DoJ, Morford had assignments as US attorney in Michigan and Tennessee and as first assistant US attorney in Ohio. Thanks. Thank you. And today, I feel pretty optimistic about that. Sure. ET. *Average returns of all recommendations since inception. Jason Gabelman -- Cowen and Company -- Analyst. Analog Devices, Inc. (Nasdaq: ADI) today announced the appointment of Alan Lee to the position of Chief Technology Officer (CTO). And I'm just wondering where you are in that journey because, obviously, we've seen some exceptional volatility in 2022 and then earlier this year across oil and gas. 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. John Locke is Vice President and Treasurer. Exactly what we're seeing today. We like where we've gotten to with that approach. And then as we came out, those got turned back on again and come on to the marketplace. And so, that -- the Europe set is the price setter for global markets ex-transportation. Exxonmobil Chief Here with me are Darren Woods, chairman and chief executive officer; and Kathy Mikells, senior vice president and chief financial officer. And is 9 billion -- like is that the end of the program or is there something to happen beyond that? We certainly saw that coming out of the pandemic with some of the logistics constraints. Former EVP of Development at Epic Games will lead innovation and technology strategy for Yuga's next 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. I'll delicately ask this question if I may. That's very helpful. I think the margins in the U.S. will be a function of, you know, what production source is setting the marginal layer of production. Quite a dynamic market. Before coming to ExxonMobil, Ms. Mikells spent six years as chief financial officer for London-based Diageo, Plc. And frankly, I think it's early with China. Thank you so much. So, we started growing that in 2018. Prior to attending the University of Texas, Fraser served in the U.S. Army in 1986-1990. I would just be curious on your views on what you're seeing in terms of product demand and then how do you think it's going to manifest itself in -- through the refining system from a margin perspective over the next couple of years?
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exxonmobil chief technology officer