ExxonMobil Q1 Earnings Call Highlights

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ExxonMobil (NYSE:XOM) executives connected the company’s latest net telephone emphasized operational execution and portfolio flexibility amid what CEO Darren Woods described arsenic “unprecedented disruption” to planetary lipid and earthy state proviso stemming from struggle successful the Middle East.

Woods opened the telephone by acknowledging the interaction of the struggle connected ExxonMobil colleagues and partners successful the region, saying the institution remained focused connected “safety and disciplined hazard management” portion moving to reconstruct operations and repair assets. He added that the Middle East “is and volition proceed to beryllium an advantaged and meaningful component” of ExxonMobil’s planetary portfolio.

Operational and fiscal show amid disruptions

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Woods said ExxonMobil delivered “strong operational show successful a challenging environment,” pointing to accrued accumulation successful the Permian twelvemonth implicit year, grounds accumulation successful Guyana, and the accomplishment of archetypal LNG astatine Golden Pass. He besides highlighted logistics and refining actions taken to enactment customers during proviso disruptions.

One operational item was refinery throughput. Woods said that successful March, throughput accrued by astir 200,000 barrels per time versus February, arsenic the institution brought refineries backmost from turnaround enactment and deferred definite attraction “where we could without impacting information oregon semipermanent reliability.” He besides said ExxonMobil’s planetary proviso concatenation squad executed alternate routings from the U.S. Gulf Coast to Asia and maintained deliveries done “coordinated readying and real-time vas visibility.”