This may be a bit of a follow-up on the questions previously about cost structure and the balance sheet. We'll go next to Roger Read with Wells Fargo. How kind of general inflation within not just the oil field but, you know, in general, how that's affecting that? You know, that's part of an overall strategy of growing performance chemicals, along with growing high-value products across our product solutions business, be it performance chemicals or low-emission fuels, high-value lubes. In 2019, he assumed the role of Vice President Investor Relations, and was promoted to his current position in 2021. Perspective That's work that we've got to demonstrate to ourselves. We can trade across those value chains. We've seen a lot of capacity coming on. ExxonMobil CEO and key executive team | Craft.co And, you know, if there's any thought around kind of the absolute level of cash today and really what's optimal. Prior to Valero, he worked for ExxonMobil in refinery operations. And I think that's what you saw in the first quarter, and then these more macro impacts, we'll see how that plays out as we go forward. Schmeltekopf graduated Magna Cum Laude with a Bachelor of Business Administration degree from Texas State University in 1987. I'll give you this one plus one. I wonder if I could just ask about unit depreciation trends. And so, that's the model that I have in my mind. We've now integrated our upstream into those value chains. ExxonMobil By: Materialise via Business Wire. Prior to attending the University of Texas, Fraser served in the U.S. Army in 1986-1990. Chief Technology Officer Additionally, we look forward to connecting again on May 31st for our annual shareholders' meeting. Reinhart was promoted to Executive Director-Corporate Communications, directing internal and external messaging, and advanced to Vice President-Corporate Communications in 2010. He is a Certified Internal Auditor, Certified Information Systems Auditor and Certified Fraud Examiner. This article is a transcript of this conference call produced for The Motley Fool. The digital watchtower - the importance of cybersecurity in the energy industry. FuelCell Energy Takes Step Toward Commercializing Carbon Our global projects organization would be a great example of that. A significant contributing factor was structural cost savings that now total approximately $7.2 billion. I think just I'd speak to maybe the LNG portfolio as a whole. Mike Seavers Joins Yuga Labs as Chief Technology Officer. Proactive and consistent dialogue with stakeholders to address environmental, social and governance priorities. In 2013, she became Vice President-Human Resources Administration & Refinery Operations, responsible for human resources in Valeros refinery operations, as well as labor relations, technical training, HR Information Services and payroll. Yeah. 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 My view is success in technology and developing proprietary technology, which improves either resource recovery or the cost of developing that resource, whatever that is, whatever value lever our technology can bring to the table, that obviously opens up deals space. In 2010, he was appointed vice president of supply and transportation, based in Fairfax, Virginia. The California Public Employees Retirement System is recruiting for a chief technology officer (Career Executive Assignment) to direct and oversee enterprise technology infrastructure services across all of CalPERS retirement, health and investment programs. On June 1st, we plan to launch our new enterprisewide trading organization. At Premcor and its predecessor, Clark Refining & Marketing, he also held positions in strategic planning, mergers and acquisitions, and planning and economics. Meet Our Executive Team | Valero 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. Prior to joining Valero, Fisher worked for the law firm of Fulbright & Jaworski. Chief Technology Officer (CTO Does that change at all the way you look to manage your cash balances going forward? Before that he was the vice president responsible for Asia projects in ExxonMobil Development Company. And so, I mean, we're looking -- we're working really hard on our technology portfolio in the Permian. The interlocking value of our guiding principles is based on Safety, Environment, Community, Employees and Governance. Their exports have been higher in the first quarter, but, you know, it depends to see how those play out going forward. The California Public Employees Retirement System is recruiting for a chief technology officer (Career Executive Assignment) to direct and oversee enterprise technology infrastructure services across all of CalPERS retirement, health and investment programs. Today's call is being recorded. Apr 24 2023 - Wilmington, MA. So, on the Beaumont expansion, can you talk about how the capacity is being absorbed in the market? He will continue to lead the growth strategy for Accentures Industry X business, which includes digital manufacturing and intelligent products and platforms. Global business solutions will centralize a majority of our finance and procurement operations, enabling us to deliver simplified corporatewide processes. He previously served as Senior Vice President-Supply, International Operations and Systems Optimization; and Vice President-Crude, Feedstock, Supply and Trading. Thanks. We believe that this technology will address one of the largest environmental challenges of today, CO 2 emissions from industrial and commercial We'll go next to Doug Leggate with Bank of America. 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. While at J.P. Morgan, Bhullar was part of the advisory teams for the spinoff of CST Brands Inc. and the formation of Valero Energy Partners LP. Maybe a question on the chemicals business. 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. Neil Chapman joined the Exxon Mobil Corporation Management Committee as senior vice president in 2018. Image source: The Motley Fool. Here with me are Darren Woods, chairman and chief executive officer; and Kathy Mikells, senior vice president and chief financial officer. So, I'll risk a follow-up very quickly. And you see us fight, certainly during the pandemic year, fight really hard to make sure that we sustain that. Koen Berges to Succeed Johan Albrecht. The organizational changes we've already made are continuing to find things. Before coming to ExxonMobil, Ms. Mikells spent six years as chief financial officer for London-based Diageo, Plc. Exxon Mobil adds first woman top-tier executive with external CFO We'll go next to Jason Gabelman with TD Cowen. 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 Darren W. Woods Chairman and Chief Executive Officer Kathryn A. Mikells Senior Vice President, Chief And given what's happened to cracks and the general concerns around demand today, and, you know, granted, I think, Darren's commentary on the market was probably a bit more positive, but are there any concerns about adding capacity at a time where fundamentals appear to be weakening? You know, one is just improving the overall productivity across our workforce. We should hit the objective that we set back in 2018 probably sometime this year. In 2007 he was appointed acting deputy attorney general by then-president George W Bush. We've had -- we've traded for a long time. So, that's how I think about it. Last year, more recently, the combination of our upstream -- I'm sorry, our downstream and chem organization into our product solutions business. Welcome to ExxonMobil's first quarter 2023 earnings call. 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. That's very helpful. Yeah. Exactly what we're seeing today. I'm Jennifer Driscoll, vice president, investor relations. Well, good morning. We're never going to get out in front of the board of directors. And if I look at some of the numbers from some of your peers, it looks like that -- those businesses, the asset optimization could add up to 5% on ROCE in exceptional environment. WebExxonMobil. There are always short-term disruptions. 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. Stephen Richardson -- Evercore ISI -- Analyst. Stock Market | FinancialContent Business Page Hello, Darren and Kathy. 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. The Motley Fool has no position in any of the stocks mentioned. WebExxonMobil's key executives include Darren W. Woods and 13 others. He received his Bachelor of Business Administration and Master of Science degrees in accounting from Texas Tech University, where he also played football. 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. And so, that's kind of, I'd say, the underlying approach. Fisher began his career with Valero in 1997, when he joined Valeros Corporate Law Department. He started as a Director in Corporate Development and moved to Business Development in 2015, where he was promoted to Vice President in 2018. We would have seen, actually, the benefit of some of that in this recent quarter. He then served as Vice President-Investor and Corporate Communications, President-Europe, and Vice President-Investor Relations, Market Analysis & Strategic Planning, before assuming his current position. Management Committee | ExxonMobil So, just to be clear, we've talked about a specific time period externally because we thought that would be helpful in transparency. 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. The Foundation of Our Success. We've been, I think, pretty successful at consistently putting assets in the market and realizing the value of those. ExxonMobil to Release First Quarter 2023 Financial Results 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. *Average returns of all recommendations since inception. Honeyman graduated from Rice University in 1995 with a bachelor's degree in chemical engineering and a master's degree in environmental engineering. 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. We're pleased to have delivered $11.4 billion of earnings, a record first quarter following a record year. And I think we're striking a pretty even balance in that regard. 1 Valero Way 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 Mr. Woods was appointed president of ExxonMobil Refining and Supply Company and vice president of Exxon Mobil Corporation in 2012. He joined the company from AMD, where he served as head of research and advanced development. And to the extent that we're very active in the Permian, we've got a really good anchor business there, and we're working real hard on opening up the value proposition of our current acreage with technology, that will open up, potentially, opportunities for acquisitions. Our diverse portfolio of advantaged businesses, improvements in mix, structural cost savings, excellence in execution are driving industry-leading earnings, cash flow, and shareholder value. And so, it's a little bit different than the history of the company, and so would appreciate your thoughts on it. 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. After all, the newsletter theyhave run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. And now, let me turn it back to the operator to conclude our call. Darren Woods, chief executive officer of ExxonMobil Corp., was chipper as he bandied with industry analysts on Jan. 31 about his companys poor 2019 performance. Exxon Mobil Corporation officers. 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. Prior to Bracewell, she practiced law at Troutman Sanders in Atlanta, with a short secondment to CNN as in-house labor and employment counsel, and the State of Georgia as an Assistant State Attorney General. ExxonMobil Find your future. We'll go next to Ryan Todd with Piper Sandler. Chief Technology Officer 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. Apr 28, 2023, 8:00 a.m. Homer Bhullar is Vice President Investor Relations and Finance. He began his career in 1987 as a process engineer at Amoco Oil's Whiting Refinery, progressing through various engineering, operations and planning positions. That enabled us, obviously, to have better throughput than we would have been planning overall for the quarter. Search. Hey, good morning. We'll go next to Paul Cheng with Scotiabank. He earned his undergraduate degree in economics from Texas A&M University and his Juris Doctor from the University of Texas School of Law. Yeah. Walsh has served in many different leadership roles within Valero's legal department. Hi, guys. ExxonMobil ( XOM 1.28%) Q1 2023 Earnings Call. 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 one that is very focused on significantly growing the value proposition there, really around our footprint. From 2011 to 2021, Eric led the implementation of these practices amongst Valero's refining network, helping the business achieve first quartile performance across Solomon energy industry benchmarking metrics. He joined Valero in 2005 as part of the Premcor acquisition, serving as Refinery Manager of the Memphis refinery at the time. He has been with the company since 1989 and has served in many leadership positions. With over 100 major cyberattacks reported in the United States since the start of the year, including well-publicized ransomware attacks on an American oil pipeline and an international beef supplier, the public is coming to understand how much cybersecurity can affect their everyday lives.

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