03-06-2017, 03:10 AM
Better late than never - Exxon aggressively pursuing lowering upstream costs and boosting oil production. How Exxon is looking at building out its upstream business. The two major improvements the company is making, and how it'll help it to better compete in all oil price environments.
Exxon Mobil Corp. is positioned to succeed in any price environment by maximizing the competitive advantages of its integrated businesses and by investing in projects that generate high-value products across the commodity cycle, Chairman and CEO Darren W. Woods said Wednesday. “Our job is to compete and succeed in any market, regardless of conditions or price,” Woods said during a presentation at the company’s annual analyst meeting at the New York Stock Exchange. “To do this, we must produce and deliver the highest-value products at the lowest-possible cost through the most-attractive channels in all operating environments.”
Exxon positioned to succeed in any price environment, CEO says
“Most of Tillerson’s Exxon shares will not vest for a decade and would stand to increase in value from political decisions made in favour of Exxon’s interests. It seems unlikely that Tillerson would shun the shares to walk away with just $57m and a conflict-free bill of health. But keeping the shares would open the door to unrelenting scrutiny of his actions. Tillerson has been outspoken in his disapproval of sanctions against Russia, which reportedly cost Exxon $1bn in lost revenue from its projects in the hydrocarbon-rich country” reports the U.K. Telegraph.
The Overstated Impact Of Trump On Oil | OilPrice.com
Funded by the U.S. Department of Energy, research on carbon-capturing fuel cells has been under way for several years. The FuelCell Energy technology would use what’s known as a carbonate fuel cell, which uses carbon dioxide as one of its inputs, to capture the carbon dioxide and concentrate it into a form that can be transported and stored, most likely in deep underground repositories. The system would generate additional electricity, rather than consuming it, and power from the overall plant would cost less than electricity from plants using earlier, amine-based solutions.