Market Overview

ExxonMobil Earns $4 Billion in Second Quarter of 2018

Share:
  • Project milestones increasing confidence in long-term growth plans
  • Permian and Bakken production up 30 percent from same quarter last year
  • Eighth discovery offshore Guyana; acquires new interest and acreage in
    Brazil

Exxon
Mobil Corporation
(NYSE:XOM):

        First        
Second Quarter Quarter First Half
2018 2017 % 2018 % 2018 2017 %
Earnings Summary
(Dollars in millions, except per share data)
Earnings (U.S. GAAP) 3,950 3,350 18 4,650 -15 8,600 7,360 17
 
Earnings Per Common Share
Assuming Dilution 0.92 0.78 18 1.09 -16 2.01 1.73 16
 
Capital and Exploration
Expenditures 6,627 3,925 69 4,867 36 11,494 8,094 42
 

Exxon Mobil Corporation today announced estimated second quarter 2018
earnings of $4 billion, or $0.92 per share assuming dilution, compared
with $3.4 billion a year earlier. Cash flow from operations and asset
sales was $8.1 billion, including proceeds associated with asset sales
of $307 million. During the quarter, the corporation distributed $3.5
billion in dividends to shareholders. Capital and exploration
expenditures were $6.6 billion, up 69 percent from the prior year,
reflecting key investments in Brazil, the U.S. Permian Basin and
Indonesia.

Oil-equivalent production was 3.6 million barrels per day, down 7
percent from the second quarter of 2017. Excluding entitlement effects
and divestments, liquids production increased as growth in the Permian
and Bakken in the U.S. and Hebron in Canada more than offset decline and
higher downtime driven by scheduled maintenance. Natural gas volumes
decreased 10 percent, excluding entitlement effects and divestments,
largely due to a continuing shift in U.S. unconventional development
from dry gas to liquids and to downtime in Qatar, Australia, and Papua
New Guinea.

"Key projects in Guyana, the U.S. Permian Basin, Brazil, Mozambique and
Papua New Guinea are positioning us well to meet the objectives we
outlined in our long-term earnings growth plans. The high quality of
these resources, combined with our strengths in project execution and
innovation, will generate strong value over time," said Darren W. Woods,
chairman and chief executive officer. "Second quarter results were
primarily impacted by significant scheduled maintenance undertaken to
support operational integrity. In addition, while we were pleased with
the return of full production following the PNG earthquake, extended
recoveries from first quarter operational incidents in the Downstream
were disappointing. However, good progress was made during the second
quarter in fully recovering from these incidents."

Second Quarter 2018 Business Highlights

Upstream:

  • Crude prices strengthened in the second quarter, while natural gas
    prices were mixed.
  • U.S. tight oil growth in the Permian and Bakken continued, reaching
    over 250,000 oil-equivalent barrels per day in the second quarter, an
    increase of 30 percent from the same period last year. The Hebron
    field in Canada continued to exceed expectations, ramping up to 25,000
    oil-equivalent barrels per day in the second quarter.
  • Natural gas volumes were impacted by lower seasonal demand in Europe,
    deliberate near-term shifting of investments in U.S. unconventionals
    from gas to liquids and downtime in LNG operations, notably in Qatar.
  • Production at Papua New Guinea returned to normal operations in April
    and reached record daily LNG production rates in June. Second quarter
    volume loss associated with the earthquake recovery was 17,000
    oil-equivalent barrels per day.
  • Scheduled maintenance activities were undertaken to support
    operational integrity, largely in Canada at Syncrude, Cold Lake and
    Kearl, impacting volumes and expenses in second quarter.

Downstream:

  • Global refining margins strengthened during the quarter due to higher
    industry refinery maintenance activity and increased seasonal
    petroleum product demand.
  • Overall throughput and earnings were impacted by heavy turnaround and
    maintenance activities during the quarter. Planned turnarounds were
    successfully completed at the refineries in Saudi Arabia, Port-Jérȏme,
    France, Baytown and Beaumont, Texas, and Alberta, Canada. Unplanned
    maintenance, a majority of which was carried-in from the first
    quarter, was largely completed during the quarter.
  • Growth in higher-value sales of retail fuels in the U.S., Belgium, the
    Netherlands and Luxembourg, combined with record quarterly sales of
    Mobil 1 lubricants in the U.S. and China, resulted in improved
    earnings during the quarter.
  • Depreciation in the Euro and British pound relative to the U.S. dollar
    negatively impacted earnings.

Chemical:

  • ExxonMobil continued to make significant progress in growing the
    Chemical business. Second quarter sales were the highest since 2007,
    and new volumes in Singapore and the U.S. contributed more than
    530,000 metric tons of sales during the quarter. This included an
    additional 145,000 metric tons of high-performance products as the
    company continued to strengthen its leading position in this market.
  • Chemical margins weakened during the quarter as higher feed and energy
    costs outpaced stronger realizations.

Strengthening the Portfolio

  • ExxonMobil announced its eighth oil discovery offshore Guyana at the
    Longtail-1 well, creating the potential for additional resource
    development in the southeast area of the Stabroek Block. ExxonMobil
    encountered approximately 256 feet (78 meters) of high-quality,
    oil-bearing sandstone.
  • The company continued to rapidly advance the Liza Phase 1 project with
    the start of development drilling offshore Guyana. Development
    drilling began in May for the first of 17 wells planned for Phase 1,
    laying the foundation for production startup in 2020. The company and
    its co-venturers have so far discovered estimated recoverable
    resources of more than 4 billion oil-equivalent barrels on the
    Stabroek Block.
  • ExxonMobil completed the purchase of half of Equinor ASA's interest in
    the BM-S-8 block offshore Brazil, which contains part of the pre-salt
    Carcara oil field. Production from the field is expected to start in
    2023-2024. The company also increased its holdings in Brazil's
    pre-salt basins after winning the Uirapuru exploration block with
    co-venturers Equinor ASA and Petrogal Brasil SA during Brazil's fourth
    pre-salt bid round. ExxonMobil now has interests in 25 blocks offshore
    Brazil.
  • Qatar Petroleum agreed to partner with ExxonMobil by acquiring a 30
    percent interest in two ExxonMobil affiliates, ExxonMobil Exploration
    Argentina SRL and Mobil Argentina SA, which hold interests in the Vaca
    Muerta unconventional shale oil and gas plays in Neuquén Province,
    Argentina. This agreement expands the successful partnership with
    Qatar Petroleum, and underscores the commitment to develop Argentina's
    resources to further support domestic production.
  • ExxonMobil and Eni SpA announced that marketing efforts are underway
    for the Rovuma LNG project, which will produce, liquefy and sell
    natural gas from the Area 4 block offshore Mozambique. The company is
    in active negotiations on binding sales and purchase agreements for
    Rovuma LNG.

Investing for Growth

  • The company started production of hydrogenated hydrocarbon resin and
    halobutyl rubber at its integrated manufacturing complex in Singapore.
    The new resins plant is the world's largest with a capacity of 90,000
    metric tons per year, and the new 140,000-metric-ton-per-year butyl
    plant will produce premium halobutyl rubber used by manufacturers for
    tires that better maintain inflation and improve fuel economy.
  • ExxonMobil acquired PT Federal Karyatama, one of Indonesia's largest
    manufacturers and marketers of motorcycle lubricants, which expands
    the company's position in an important international market. The
    acquisition includes the Federal Oil brand and a
    700,000-barrel-per-year blending plant in Cilegon, Indonesia.
  • ExxonMobil and SABIC announced the creation of a new joint venture to
    advance development of the Gulf Coast Growth Ventures project, a
    1.8-million-metric-ton-per-year ethane cracker currently planned for
    construction in San Patricio County, Texas. The facility will also
    include a monoethylene glycol unit and two polyethylene units.
    Construction of the project is pending completion of the environmental
    permitting process. The plant is expected to be operational in the
    2021-2022 timeframe.
  • ExxonMobil and Plains All American Pipeline LP have signed a letter of
    intent to pursue a joint venture to construct a pipeline system to
    transport crude oil and condensate from multiple locations in the U.S.
    Permian Basin to the U.S. Gulf Coast. The proposed common carrier
    pipeline system would be designed to ship more than 1 million barrels
    of crude oil and condensate per day, providing a safe, efficient and
    cost effective option to transport ExxonMobil and other third-party
    production to market destinations in Texas.

Advancing Innovative Technologies and Products

  • ExxonMobil announced it is progressing a multi-billion dollar project
    at its integrated manufacturing facility in Singapore to expand
    lubricant basestocks production to meet growing demand. The company
    plans to apply proprietary technologies to convert heavy by-products
    to high-quality basestocks designed to help blenders achieve greater
    formulation flexibility and meet future lubricant performance
    expectations. Project startup is anticipated in 2023.
  • ExxonMobil announced greenhouse gas reduction measures that are
    expected to lead to significant improvements in emissions performance
    by 2020, including a 15 percent decrease in methane emissions and a 25
    percent reduction in flaring compared with 2016. The company also
    announced its intention to improve its industry-leading energy
    efficiency in refining and chemical manufacturing facilities. Since
    2000, ExxonMobil has spent more than $9 billion on lower-emission
    energy solutions such as cogeneration, flare reduction, energy
    efficiency, biofuels, carbon capture and storage and other
    technologies.
 
Earnings and Volume Summary
       
Millions of Dollars 2Q 2Q
(unless noted) 2018 2017 Change Comments
Upstream
U.S. 439 (183) +622 Higher liquids prices and increased liquids volumes, partially
offset by higher expenses
Non-U.S. 2,601 1,367 +1,234 Higher prices, partially offset by lower volumes and higher expenses
reflecting increased maintenance activity
Total 3,040 1,184 +1,856 Prices +$2,380, downtime / maintenance

-$230, lower volumes due to entitlements

-$120, other -$170 including higher exploration and production
expenses

Production (koebd) 3,647 3,922 -275 Liquids -57 kbd: net liquids growth of 25 kbd more than offset by
divestments, lower entitlements and scheduled maintenance

 

Gas -1,307 mcfd: decline largely in U.S. aligned with value focus,
higher downtime, lower entitlements and divestments

 
Downstream
U.S. 695 347 +348 Higher margins capturing crude differentials, sales growth,
partially offset by downtime / maintenance
Non-U.S. 29 1,038 -1,009 Sales growth, more than offset by lower margins, downtime /
maintenance, unfavorable foreign exchange impacts and lower
divestment gains
Total 724 1,385 -661 Margins +$260, sales +$100, downtime / maintenance -$620,
unfavorable foreign exchange impacts -$240, lower divestment gains
-$130
Petroleum Product Sales (kbd) 5,502 5,558 -56
 
Chemical
U.S. 453 481 -28 Volume growth, more than offset by higher expenses
Non-U.S. 437 504 -67 Volume growth, more than offset by lower margins
Total 890 985 -95 Volume growth +$120, margins -$210, other

-$10

Prime Product Sales (kt) 6,852 6,120 +732 Project growth and acquisitions
 
Corporate and financing   (704)   (204)   -500   Absence of favorable tax items, lower U.S. tax rate and higher
pension-related costs; in line with expectations
 
 
Earnings and Volume Summary
       
Millions of Dollars 2Q 1Q
(unless noted) 2018 2018 Change Comments
Upstream
U.S. 439 429 +10 Stronger liquids prices and higher liquids volumes, largely offset
by higher expenses and lower gas prices
Non-U.S. 2,601 3,068 -467 Higher liquids prices, more than offset by absence of the
Scarborough sale (-$366), downtime / maintenance and lower seasonal
volumes
Total 3,040 3,497 -457 Higher prices +$540, lower divestment gains

-$420, downtime / maintenance -$210, lower volumes due to
seasonal demand -$180, other -$190

Production (koebd) 3,647 3,889 -242 Liquids -4 kbd: net liquids growth of +50 kbd, more than offset by
scheduled downtime and divestment impacts

 

Gas -1,425 mcfd: lower seasonal demand

 
Downstream
U.S. 695 319 +376 Higher margins and sales growth, partially offset by downtime /
maintenance
Non-U.S. 29 621 -592 Higher margins and sales growth, more than offset by downtime /
maintenance and unfavorable foreign exchange impacts
Total 724 940 -216 Higher margins +$630, sales +$50, downtime / maintenance -$620,
unfavorable foreign exchange impacts -$210, other -$70
Petroleum Product Sales (kbd) 5,502 5,432 +70
 
Chemical
U.S. 453 503 -50 Volume growth, more than offset by higher expenses and lower margins
Non-U.S. 437 508 -71 Lower expenses, more than offset by unfavorable foreign exchange
impacts and weaker margins
Total 890 1,011 -121 Volume growth +$50, lower margins -$90, unfavorable foreign
exchange impacts -$50, other -$30
Prime Product Sales (kt) 6,852 6,668 +184 Project growth and acquisitions
 
Corporate and financing   (704)   (798)   +94   Favorable tax items and lower financing costs
 
 
Earnings and Volume Summary
 
Millions of Dollars   YTD   YTD    
(unless noted) 2018 2017 Change Comments
Upstream
U.S. 868 (201) +1,069 Higher liquids prices, higher liquids volumes and favorable mix,
partially offset by higher expenses
Non-U.S. 5,669 3,637 +2,032 Higher prices and the gain on the Scarborough sale ($366), partially
offset by lower volumes and higher expenses
Total 6,537 3,436 +3,101 Prices +$3,830, downtime / maintenance

-$350, lower volumes due to entitlements

-$230, other -$150

Production (koebd) 3,768 4,036 -268 Liquids -87 kbd: growth in North America, more than offset by lower
volumes from divestments, entitlements, and decline

 

Gas -1,090 mcfd: decline in U.S. aligned with value focus, higher
downtime, lower entitlements and divestments

Downstream
U.S. 1,014 639 +375 Higher margins and sales growth, partially offset by downtime /
maintenance
Non-U.S. 650 1,862 -1,212 Sales growth, more than offset by weaker margins, downtime /
maintenance, unfavorable foreign exchange impacts and lower
divestment gains
Total 1,664 2,501 -837 Margins +$230, sales +$120, downtime / maintenance -$670,
unfavorable foreign exchange impacts -$220, lower divestment gains
-$220, other -$80
Petroleum Product Sales (kbd) 5,467 5,477 -10
Chemical
U.S. 956 1,010 -54 Volume growth, more than offset by higher expenses
Non-U.S. 945 1,146 -201 Volume growth, more than offset by lower margins
Total 1,901 2,156 -255 Volume growth +$220, margins -$460, other

-$20

Prime Product Sales (kt) 13,520 12,192 +1,328 Project growth and acquisitions
Corporate and financing   (1,502)   (733)   -769   Absence of favorable tax items, lower U.S. tax rate, and higher
pension and financing related costs
 
   
Cash Flow from Operations and Asset Sales
 
Millions of Dollars 2Q
2018 Comments
Net income including noncontrolling interests 3,986 Includes $36 million for noncontrolling interests
Depreciation 4,589
Changes in working capital (1,333) Mainly driven by inventory and seasonality in payables
Other 538 Includes pension fund impacts
Cash Flow from Operations (U.S. GAAP) 7,780
Asset sales 307

Cash Flow from Operations and Asset Sales

8,087
         
Millions of Dollars YTD
2018 Comments
Net income including noncontrolling interests 8,769 Includes $169 million for noncontrolling interests
Depreciation 9,059
Changes in working capital (982) Mainly driven by inventory build
Other (547) Timing of equity company dividends partly offset by pension fund
impacts
Cash Flow from Operations (U.S. GAAP) 16,299
Asset sales 1,748

Cash Flow from Operations and Asset Sales

18,047
         
 

First Half 2018 Financial Updates

During the first half of 2018, Exxon Mobil Corporation purchased
5 million shares of its common stock for the treasury at a gross cost of
$425 million. These shares were acquired to offset dilution in
conjunction with the company's benefit plans and programs. The
corporation will continue to acquire shares to offset dilution in
conjunction with its benefit plans and programs, but does not currently
plan on making purchases to reduce shares outstanding.

ExxonMobil will discuss financial and operating results and other
matters during a webcast at 8:30 a.m. Central Time on July 27, 2018. To
listen to the event or access an archived replay, please visit
www.exxonmobil.com.

Cautionary Statement

Outlooks, projections, goals, targets, descriptions of business plans
and objectives, and other statements of future events or conditions in
this release are forward-looking statements. Actual future results,
including project plans, capacities, and timing; resource recoveries;
earnings and volume growth; and emissions and flaring reductions could
differ materially due to a number of factors. These include changes in
supply and demand for oil, gas, and petrochemicals or other market
conditions affecting the oil, gas, and petrochemical industries;
reservoir performance; timely completion of new projects; the impact of
fiscal and commercial terms and the outcome of commercial negotiations;
changes in law, taxes, or government regulation and timely granting of
governmental permits; war and other political or security disturbances;
the actions of competitors; unforeseen technical or operating
difficulties; unexpected technological developments; general economic
conditions including the occurrence and duration of economic recessions;
the results of research programs; and other factors discussed under the
heading Factors Affecting Future Results on the Investors page of our
website at
www.exxonmobil.com
and in Item 1A of ExxonMobil's 2017 Form 10-K. We assume no duty to
update these statements as of any future date.

Forward-looking statements in this release regarding future earnings
refer to plans outlined at ExxonMobil's Analysts' Meeting held on March
7, 2018. The growth figures presented at that meeting are not forecasts
of actual future results but were intended to help quantify future
potential and goals of management plans and initiatives. See the
complete March 7, 2018 presentation available in archive form (including
the Cautionary Statement and Supplemental Information included with that
presentation) on the Investors page of our website at
www.exxonmobil.com
for more detailed information. That material includes a description of
the assumptions underlying these potential growth estimates including a
flat real oil price of $60 per barrel, downstream and chemical margins
consistent with 2017 levels, and future gas prices consistent with our
internal company plans, as well as a reconciliation of adjusted 2017
earnings used as a baseline.

Frequently Used Terms and Non-GAAP Measures

This press release includes cash flow from operations and asset
sales. Because of the regular nature of our asset management and
divestment program, we believe it is useful for investors to consider
proceeds associated with the sales of subsidiaries, property, plant and
equipment, and sales and returns of investments together with cash
provided by operating activities when evaluating cash available for
investment in the business and financing activities. A reconciliation to
net cash provided by operating activities is shown on page 8 and in
Attachment V.

This press release also includes total taxes including sales-based
taxes. This is a broader indicator of the total tax burden on the
corporation's products and earnings, including certain sales and
value-added taxes imposed on and concurrent with revenue-producing
transactions with customers and collected on behalf of governmental
authorities ("sales-based taxes"). It combines "Income taxes" and "Total
other taxes and duties" with sales-based taxes, which are reported net
in the income statement. We believe it is useful for the corporation and
its investors to understand the total tax burden imposed on the
corporation's products and earnings. A reconciliation to total taxes is
shown as part of the Estimated Key Financial and Operating Data in
Attachment I.

References to the resource base and other quantities of oil, natural
gas or condensate may include amounts that are not yet classified as
"proved reserves" under SEC definitions, but which we believe will
likely be moved into the "proved reserves" category and produced in the
future. The term "project" as used in this release can refer to a
variety of different activities and does not necessarily have the same
meaning as in any government payment transparency reports. Further
information on ExxonMobil's frequently used financial and operating
measures and other terms including "Cash flow from operations and asset
sales", and "Total taxes including sales-based taxes" is contained under
the heading "Frequently Used Terms" available through the "Investors"
section of our website at exxonmobil.com.

Reference to Earnings

References to corporate earnings mean net income attributable to
ExxonMobil (U.S. GAAP) from the consolidated income statement. Unless
otherwise indicated, references to earnings, Upstream, Downstream,
Chemical and Corporate and financing segment earnings, and earnings per
share are ExxonMobil's share after excluding amounts attributable to
noncontrolling interests.

Exxon Mobil Corporation has numerous affiliates, many with names that
include ExxonMobil, Exxon, Mobil, Esso, and XTO. For convenience and
simplicity, those terms and terms such as 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 such as venture, joint
venture, partnership, co-venturer, and partner are used to indicate
business and other relationships involving common activities and
interests, and those words may not indicate precise legal relationships.

         
Estimated Key Financial and Operating Data
 
Attachment I
 
Exxon Mobil Corporation
Second Quarter 2018
(millions of dollars, unless noted)
 
First
Second Quarter Quarter First Half
2018 2017 2018 2018 2017
Earnings / Earnings Per Share
Total revenues and other income1 73,501 58,077 68,211 141,712 116,748
Total costs and other deductions 66,989 53,921 60,971 127,960 106,674
Income before income taxes 6,512 4,156 7,240 13,752 10,074
Income taxes 2,526 892 2,457 4,983 2,720
Net income including noncontrolling interests 3,986 3,264 4,783 8,769 7,354
Net income attributable to noncontrolling interests 36 (86 ) 133 169 (6 )
Net income attributable to ExxonMobil (U.S. GAAP) 3,950 3,350 4,650 8,600 7,360
 
Earnings per common share (dollars) 0.92 0.78 1.09 2.01 1.73
 

Earnings per common share - assuming dilution (dollars)

0.92 0.78 1.09 2.01 1.73
 
Exploration expenses, including dry holes 332 514 287 619 803
 
Other Financial Data
Dividends on common stock
Total 3,502 3,289 3,291 6,793 6,423
Per common share (dollars) 0.82 0.77 0.77 1.59 1.52
 
Millions of common shares outstanding
At period end 4,234 4,237
Average - assuming dilution 4,271 4,271 4,270 4,270 4,244
 
ExxonMobil share of equity at period end 187,222 179,178
ExxonMobil share of capital employed at period end 230,817 223,646
 
Income taxes 2,526 892 2,457 4,983 2,720
Total other taxes and duties 9,003 7,960 8,815 17,818 15,589
Total taxes 11,529 8,852 11,272 22,801 18,309
Sales-based taxes 5,507 4,799 5,281 10,788 9,415
Total taxes including sales-based taxes 17,036 13,651 16,553 33,589 27,724
 

ExxonMobil share of income taxes of equity companies

655 569 740 1,395 1,216

 

1 Effective December 31, 2017, the corporation revised its
accounting policy election related to the reporting of sales-based
taxes, which had no impact on earnings. For more information, please
refer to Note 2 in the Financial Section of ExxonMobil's Form 10-K for
the period ended December 31, 2017.

         
Attachment II
 
Exxon Mobil Corporation
Second Quarter 2018
(millions of dollars)
 
First
Second Quarter Quarter First Half
2018   2017 2018 2018 2017
Earnings (U.S. GAAP)
Upstream
United States 439 (183 ) 429 868 (201 )
Non-U.S. 2,601 1,367 3,068 5,669 3,637
Downstream
United States 695 347 319 1,014 639
Non-U.S. 29 1,038 621 650 1,862
Chemical
United States 453 481 503 956 1,010
Non-U.S. 437 504 508 945 1,146
Corporate and financing (704 ) (204 ) (798 ) (1,502 ) (733 )
Net income attributable to ExxonMobil 3,950 3,350 4,650 8,600 7,360
 
         
Attachment III
 
Exxon Mobil Corporation
Second Quarter 2018
 
First
Second Quarter Quarter First Half
2018 2017 2018 2018 2017

Net production of crude oil, natural gas liquids, bitumen and
synthetic oil, thousand barrels per day (kbd)

United States 543 520 523 533 516
Canada / Other Americas 391 374 427 409 398
Europe 136 195 145 140 200
Africa 410 417 376 393 425
Asia 686 710 706 696 710
Australia / Oceania 46 53 39 43 52
Worldwide 2,212 2,269 2,216 2,214 2,301
 

Natural gas production available for sale, million cubic feet per
day (mcfd)

United States 2,591 3,083 2,576 2,583 3,047
Canada / Other Americas 226 203 211 219 209
Europe 1,136 1,442 2,542 1,835 2,102
Africa 9 4 9 9 5
Asia 3,393 3,867 3,568 3,480 3,837
Australia / Oceania 1,258 1,321 1,132 1,195 1,211
Worldwide 8,613 9,920 10,038 9,321 10,411
 
Oil-equivalent production (koebd)1 3,647 3,922 3,889 3,768 4,036

 

1 Gas converted to oil-equivalent at 6 million cubic feet = 1
thousand barrels.

         
Attachment IV
 
Exxon Mobil Corporation
Second Quarter 2018
 
First
Second Quarter Quarter First Half
2018 2017 2018 2018 2017
Refinery throughput (kbd)
United States 1,529 1,601 1,518 1,524 1,611
Canada 364 358 408 386 378
Europe 1,384 1,521 1,495 1,439 1,488
Asia Pacific 714 664 720 717 658
Other 114 201 152 133 200
Worldwide 4,105 4,345 4,293 4,199 4,335
 
Petroleum product sales (kbd)
United States 2,215 2,187 2,128 2,171 2,171
Canada 514 494 484 499 494
Europe 1,595 1,653 1,574 1,585 1,595
Asia Pacific 814 755 795 804 731
Other 364 469 451 408 486
Worldwide 5,502 5,558 5,432 5,467 5,477
 
Gasolines, naphthas 2,216 2,265 2,215 2,216 2,214
Heating oils, kerosene, diesel 1,781 1,850 1,828 1,804 1,842
Aviation fuels 405 383 396 400 377
Heavy fuels 432 367 346 389 373
Specialty products 668 693 647 658 671
Worldwide 5,502 5,558 5,432 5,467 5,477
 

Chemical prime product sales, thousand metric tons (kt)

United States 2,411 2,334 2,391 4,802 4,614
Non-U.S. 4,441 3,786 4,277 8,718 7,578
Worldwide 6,852 6,120 6,668 13,520 12,192
 
         
Attachment V
 
Exxon Mobil Corporation
Second Quarter 2018
(millions of dollars)
 
First
Second Quarter Quarter First Half
2018 2017 2018 2018 2017
Capital and Exploration Expenditures
Upstream
United States 1,752 756 1,248 3,000 1,460
Non-U.S. 3,103 2,030 2,511 5,614 4,445
Total 4,855 2,786 3,759 8,614 5,905
Downstream
United States 346 173 218 564 378
Non-U.S. 884 413 396 1,280 753
Total 1,230 586 614 1,844 1,131
Chemical
United States 414 414 343 757 802
Non-U.S. 119 121 122 241 230
Total 533 535 465 998 1,032
 
Other 9 18 29 38 26
 
Worldwide 6,627 3,925 4,867 11,494 8,094
 
 
Cash flow from operations and asset sales (millions of
dollars)

Net cash provided by operating activities (U.S. GAAP)

7,780 6,947 8,519 16,299 15,120
Proceeds associated with asset sales 307 154 1,441 1,748 841
Cash flow from operations and asset sales 8,087 7,101 9,960 18,047 15,961
 
   
Attachment VI
 
Exxon Mobil Corporation
Earnings
 
$ Millions $ Per Common Share1
 
2014
First Quarter 9,100 2.10
Second Quarter 8,780 2.05
Third Quarter 8,070 1.89
Fourth Quarter 6,570 1.56
Year 32,520 7.60
 
2015
First Quarter 4,940 1.17
Second Quarter 4,190 1.00
Third Quarter 4,240 1.01
Fourth Quarter 2,780 0.67
Year 16,150 3.85
 
2016
First Quarter 1,810 0.43
Second Quarter 1,700 0.41
Third Quarter 2,650 0.63
Fourth Quarter 1,680 0.41
Year 7,840 1.88
 
2017
First Quarter 4,010 0.95
Second Quarter 3,350 0.78
Third Quarter 3,970 0.93
Fourth Quarter 8,380 1.97
Year 19,710 4.63
 
2018
First Quarter 4,650 1.09
Second Quarter 3,950 0.92
 
1 Computed using the average number of shares outstanding
during each period.

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