Commitment to climate change research Exxon Mobil Corporation believes that climate change is a serious issue requiring research for solutions and effective policies that balance society’s need for energy and environmental protection. As such, company scien- tists have been studying climate science for more than three decades. Over the years, much of this research to improve the understanding of climate science has been done in conjunction with government bodies and leading research universities, and publicly available for several decades. Our scientists have contributed climate research and related policy analy- sis to more than 50 papers in peer-reviewed publications. They’ve partici- pated in the United Nations Intergovernmental Panel on Climate Change since its inception in 1988, and were involved in the National Academy of Sciences review of the third U.S. National Climate Assessment Report. ExxonMobil advocates policy options that ensure a uniform and pre- dictable cost of carbon; allow market prices to drive solutions; maximize transparency; reduce administrative complexity; promote global participa- tion; and are easily adjusted to future developments in climate science and policy impacts. Since 2009, ExxonMobil has supported a revenue- neutral carbon tax as the most efficient and effective way for policymak- ers to put a price on carbon emissions.
The Lamp is published for ExxonMobil shareholders. Others may receive it on request. It is produced by the Public & Government Affairs Department, Exxon Mobil Corporation. Exxon Mobil Corporation has numerous affiliates, many with names that include ExxonMobil, Exxon, Esso and Mobil. For convenience and simplicity in this publication, those terms and the terms corporation, company, our, we and its are sometimes used as abbreviated references to specific affiliates or affiliate groups. Similarly, ExxonMobil has business relationships with thousands of customers, suppliers, governments and others. For convenience and simplicity, words like venture, joint venture, partnership, co-venturer and partner are used to indicate business relationships involving common activities and interests, and those words may or may not indicate precise legal relationships. Trademark ownership: Exxon, Mobil, Mobil 1, EHC and the term Energy lives here are trademarks or service marks of Exxon Mobil Corporation or its affiliates. Forward-looking statements: Outlooks, projections, estimates, targets and business plans in this publication are forward- looking statements. Actual future results, including demand growth and supply mix; ExxonMobil’s own production growth and mix; resource recoveries; project plans, timing, costs and capacities; capital expenditures; revenue enhancements and cost efficiencies; margins; and the impact of technology could differ materially due to a number of factors. These include changes in long-term oil or gas prices or other market conditions affecting the oil, gas and petrochemical industries; reservoir performance; timely completion of development projects; war and other political or security disturbances; changes in law or government regulation; the outcome of commercial negotiations; the actions of competitors; unexpected technological developments; the occurrence and duration of economic recessions; unforeseen technical difficulties; and other factors discussed here and under the heading “Factors Affecting Future Results” in item 1 of our most recent Form 10-K and on our website at exxonmobil.com. Frequently used terms: References to resources, the resource base, recoverable resources, barrels and similar terms include quantities of oil and gas that are not yet classified as proved reserves, but that we believe will likely be moved into the proved reserves category and produced in the future. Discussions of reserves in this publication generally exclude the effects of year-end price/cost revisions and include reserves attributable to equity companies and our Syncrude operations. For definitions of and information regarding reserves, return on average capital employed, normalized earnings and other terms that may be used in this publication, including information required by SEC Regulation G, see the “frequently used terms” posted on our website. The most recent Financial and Operating Review on our website also shows ExxonMobil’s net interest in specific projects.
Singapore investment ExxonMobil is expanding its operations in Jurong, Singapore, to produce synthetic lubricants, including Mobil 1 , the company’s flagship synthetic engine oil. The expansion further strengthens the company’s manufacturing capabilities and ability to meet the growing demand for ExxonMobil synthetic products in the Asia-Pacific region. When completed in the second half of 2017, the facility will be one of six locations worldwide produc- ing Mobil 1 . “ Mobil 1 is ExxonMobil’s most advanced synthetic engine oil,” says Bennett Hansen, ExxonMobil’s Asia- Pacific lubricant sales director. “Adding Singapore to our network of Mobil 1 manufacturing facilities will ensure that customers’ needs are met well into the future.”
Research partner A new $1 million relationship between ExxonMobil and Michigan State University will expand research into the basic science required to advance algae-based fuels. The partnership seeks to improve the efficiency of photosynthesis in microalgae to produce biofuels and bio-products. “We know certain types of algae produce bio-oils,” said Vijay Swarup, vice president of ExxonMobil Research and Engineering Company. “The challenge is to find and develop algae that can produce bio-oils at scale on a cost-efficient basis.” The goal will be to ultimately process algae bio-oils in ExxonMobil refineries to supplement crude oil as the raw material to manufacture gasoline, diesel, aviation fuels and marine fuels. The company is also researching potential applications in chemicals and lubricants.
The additional capacity in Singapore will support growing demand from automotive manufacturers and motorists.
Photo by Jeff Cheng
34
Powered by FlippingBook