Darren Woods visits the Baytown refinery
Photo by Pam Farmer
What challenges do you see ahead?
and stakeholder value over the long term. In an increasingly competitive environment, with markets currently over-supplied, this is a significant challenge. So what’s the solution? It starts with our people. I don’t think there’s any organization in the world with people more talented or capable than those at ExxonMobil. My job, along with the other leaders in the organization, is to empower and fully leverage this capability. Technology is also critical. Advances in technology are allowing us to do things today that people thought weren’t possible a decade ago. The industry has unlocked vast resources of oil and natural gas we had once thought out of reach. Industry innovation led to an energy revolution. This will
happen again. Technology will ultimately play a role in unlocking solutions for most, if not all, of our challenges. What opportunities out there make you the most excited? I’m excited by opportunities across our entire portfolio. In the Downstream, we’re investing in proprietary technology to increase the production of higher- value products and position our refineries as some of the most competitive in the world. In Chemical, we’re leveraging a host of organizational capabilities – from projects to sales – and technology advantages in processes and products to invest strategically in high-value, high- growth businesses. In the Upstream, I’m
Mozambique and the Permian Basin here in the United States to name a few. All are world class. The Permian will enable us to take advantage of our integrated businesses, which span the value chain along the U.S. Gulf Coast. Earlier this year, I announced our “Growing the Gulf” initiative, which is expanding manufacturing capacity to take advantage of abundant oil and natural gas from shale. All told, it’s a $20 billion investment program spanning 11 projects over a 10-year period, and will create 45,000 jobs. I’m also excited about our research and development program, which is exploring technologies to improve our business performance and help mitigate the risks of climate change. It’s an exciting time for our industry and our company.
The world needs affordable energy to grow its economies and advance living standards. The world also needs tomanage and protect its environment and natural resources. Society doesn’t have the luxury of choosing one over the other. We have to tackle both. At ExxonMobil, we play a vital role. The work we do every day is focused on these objectives. Lowering cost and improving productivity while minimizing our environmental footprint and the emissions from our operations and products is helping. But we have more to do. I’m confident that further advances will come with the research we’re doing across a broad spectrum of technology opportunities. Of course, we do this to generate greater shareholder
excited about several of our new investments in Guyana,
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