- Earnings increased $5.8 billion over the second quarter of
2020, driven by oil and natural gas demand and best-ever quarterly
chemical and lubricants contributions
- Cash flow from operating activities of $9.7 billion funded the
dividend, capital investments and debt reduction
- Low Carbon Solutions business advanced multiple CCS
opportunities and low-emission fuels initiatives
- Portfolio improvement activities included signing an agreement
for the $1.15 billion fourth-quarter sale of the SantopreneTM
chemical business, affirmative funding decision for the Bacalhau
development in Brazil, and additional exploration success in
Guyana
Exxon Mobil Corporation (NYSE:XOM):
First
Second Quarter
Quarter
First Half
2021
2020
2021
2021
2020
Results Summary
(Dollars in millions, except per share
data)
Earnings/(Loss) (U.S. GAAP)
4,690
(1,080)
2,730
7,420
(1,690)
Earnings/(Loss) Per Common Share
Assuming Dilution
1.10
(0.26)
0.64
1.74
(0.40)
Identified Items Per Common Share
Assuming Dilution
—
0.44
(0.01)
(0.01)
(0.23)
Earnings/(Loss) Excluding Identified
Items
Per Common Share Assuming Dilution
1.10
(0.70)
0.65
1.75
(0.17)
Capital and Exploration Expenditures
3,803
5,327
3,133
6,936
12,470
Exxon Mobil Corporation (NYSE:XOM) today announced estimated
second-quarter 2021 earnings of $4.7 billion, or $1.10 per share
assuming dilution, compared with a loss of $1.1 billion in the
second quarter of 2020. Second-quarter capital and exploration
expenditures were $3.8 billion, bringing the first half of 2021 to
$6.9 billion, which is consistent with planned lower activity in
the first half of the year. The company anticipates higher
second-half planned spending on key projects, including Guyana,
Brazil, Permian and in Chemical, with full-year spending towards
the lower end of the guidance range of $16 billion to $19
billion.
Oil-equivalent production in the second quarter was 3.6 million
barrels per day, down 2% from the second quarter of 2020, driven by
increased maintenance activity. Excluding entitlement effects,
divestments, and government mandates, oil-equivalent production
increased 3%, including growth in the Permian and Guyana.
“Positive momentum continued during the second quarter across
all of our businesses as the global economic recovery increased
demand for our products,” said Darren Woods, chairman and chief
executive officer.
“We’re realizing significant benefits from an improved cost
structure, solid operating performance and low-cost-of-supply
investments that, together, are generating attractive returns and
strong cash flow to fund our capital program, pay the dividend and
reduce debt. This was particularly true for our Chemical business
that delivered their best quarter in company history. In our
efforts to support society's energy transition goals, our Low
Carbon Solutions business made progress in identifying new
opportunities and in establishing new partnerships in carbon
capture and storage, hydrogen and low-emission fuels.”
Second-Quarter Business Highlights
Upstream
- Average realizations for crude oil increased 13% from the first
quarter. Natural gas realizations increased 1% from the prior
quarter.
- Liquid volumes decreased 3% from the first quarter, driven by
increased planned maintenance activity. Natural gas volumes
decreased 10%, driven by lower seasonal demand.
- During the quarter, production volumes in the Permian averaged
400,000 oil-equivalent barrels per day, an increase of 34% from the
second quarter of 2020. The focus remains on continuing to grow
positive free cash flow by lowering overall development costs and
increasing recovery through efficiency gains and technology
applications.
Downstream
- Industry fuels margins improved from the first quarter, but
remain on the low end of the historical range, due to ongoing
impacts from market oversupply. Lubricants delivered strong
performance, underpinned by lower operating expenses and improved
margins.
- Overall refining throughput was up 3% from the first quarter,
when a winter storm in Texas disrupted operations. The company
continued to manage refinery operations in line with fuel demand
and integrated chemical manufacturing needs.
Chemical
- Strong base operations supported best-ever quarterly earnings
of $2.3 billion, reflecting reliable operations, higher margins and
continued cost discipline.
- Industry margins improved in the quarter on higher product
prices, reflecting continued strong demand and regional supply
constraints. North America's regional ethane feed advantage
grew.
Strengthening the Portfolio
- ExxonMobil signed an agreement with Celanese for the sale of
its global Santoprene™ chemical business for $1.15 billion, subject
to working capital and other adjustments. The sale advances
strategic business objectives and includes two manufacturing sites
in the United States and United Kingdom. The transaction is
expected to close in the fourth quarter of 2021, subject to
standard conditions precedent including regulatory approvals.
- ExxonMobil continued to progress its major deepwater
developments in Guyana, including the announcement of new
discoveries at Uaru-2, Longtail-3, and Whiptail, which increase
confidence in the quality and size of the resource and supports the
potential for 7 to 10 floating production, storage and offloading
(FPSO) facilities in the Stabroek block. Exploration, appraisal,
and development drilling continues, with a total of six drillships
now operating offshore Guyana. The company's high-return
developments remain on schedule, with Liza Phase 2 on target for
2022 startup, Payara on schedule for 2024 startup and Yellowtail
targeted for 2025 startup.
- The company continues to make progress on previously announced
terminal conversions in Slagen, Norway and Altona, Australia,
ensuring ongoing, reliable supply of fuels to these markets through
the company's advantaged logistics. The Slagen refinery was safely
shutdown in May, while Altona is scheduled to cease refining
operations in August.
- The grass roots chemical plant project, located near Corpus
Christi, Texas, recently reached mechanical completion of a
monoethylene glycol unit and two polyethylene units. The project,
which will produce chemicals used in medical, automotive and
packaging products, is expected to start up in the fourth quarter
of 2021, ahead of schedule and under budget.
Capital Allocation and Structural Cost Improvement
- ExxonMobil’s 2021 capital program is expected to be at the
lower end of the previously communicated range of $16 billion to
$19 billion. Capital expenditures totaled approximately $7 billion
through the first half of the year. The company’s capital
allocation priorities continue to be investing in advantaged
projects, strengthening the balance sheet and paying a reliable
dividend.
- In addition to reducing structural costs by $3 billion in 2020,
the company has captured over $1 billion in further structural
savings in the first half of 2021. The company remains on pace to
achieve through 2023 total structural cost reductions of $6 billion
relative to 2019. Efforts to identify further structural savings
resulting from the reorganizations completed in 2019 continue.
Reducing Emissions and Advancing Low Carbon Solutions
- In July, the company signed memorandums of understanding to
participate in a major carbon capture and storage (CCS) project in
Scotland and to explore the development of CO2 infrastructure in
France. The Acorn CCS project in Scotland plans to capture and
store approximately 5 million to 6 million metric tons of CO2 per
year by 2030. The collaboration in the Normandy region of France
seeks to develop CCS technology with the objective of reducing CO2
emissions by up to 3 million metric tons per year by 2030.
- During the quarter, ExxonMobil expanded its previous agreement
with Global Clean Energy to purchase up to 5 million barrels of
renewable diesel with commercial production expected to begin in
2022. The agreement is part of the company’s efforts to advance
multiple options to produce low-emission biofuels, including new
projects, facility upgrades, and purchase agreements. The company
expects to produce more than 40,000 barrels per day of biofuels by
2025.
Results
and Volume Summary
Millions of Dollars
2Q
2Q
(unless noted)
2021
2020
Change
Comments
Upstream
U.S.
663
(1,197)
+1,860
Higher prices and volumes, reduced
expenses
Non-U.S.
2,522
(454)
+2,976
Higher prices, increased volumes, and
favorable one-time tax items, partly offset by higher planned
maintenance; prior quarter favorable identified items (-168,
inventory valuation)
Total
3,185
(1,651)
+4,836
Prices +4,570, volumes +290, expenses
+90, planned maintenance -300, identified items -210, other
+400
Production (koebd)
3,582
3,638
-56
Liquids -106 kbd: higher demand, including
the absence of economic curtailments, and project growth, more than
offset by lower entitlements, decline, higher planned maintenance,
and divestments
Gas +304 mcfd: higher demand, including
the absence of economic curtailments, partly offset by higher
planned maintenance and divestments
Downstream
U.S.
(149)
(101)
-48
Higher margins driven by stronger industry
refining conditions, improved demand, and lower non-maintenance
expenses, more than offset by higher planned maintenance activity
and absence of prior quarter favorable identified items (-404,
inventory valuation)
Non-U.S.
(78)
1,077
-1,155
Higher demand and improved margins
reflecting stronger industry refining conditions, more than offset
by higher planned maintenance activity and unfavorable foreign
exchange;
prior quarter favorable identified
items
(-1,190, inventory valuation)
Total
(227)
976
-1,203
Margins +430, demand +270, identified
items -1,590, planned maintenance -390, other +70
Petroleum Product Sales (kbd)
5,041
4,437
+604
Chemical
U.S.
1,282
171
+1,111
Higher margins and stronger demand
Non-U.S.
1,038
296
+742
Higher margins, stronger demand, favorable
foreign exchange, and reduced expenses, partly offset by planned
maintenance; prior quarter favorable identified item
(-144, inventory valuation)
Total
2,320
467
+1,853
Margins +1,680, demand +250, expenses
+100, planned maintenance -160,
identified items -120, other
+100
Prime Product Sales (kt)
6,513
5,945
+568
Corporate and financing
(588)
(872)
+284
Lower financing costs and net favorable
tax impacts
Results
and Volume Summary
Millions of Dollars
2Q
1Q
(unless noted)
2021
2021
Change
Comments
Upstream
U.S.
663
363
+300
Higher liquids prices, higher liquids
volumes, and favorable one-time items
Non-U.S.
2,522
2,191
+331
Higher liquids prices, higher liquids
volumes,
and favorable one-time items, partly
offset by
higher planned maintenance and seasonally
lower gas volumes
Total
3,185
2,554
+631
Prices +680, planned maintenance
-360,
other +310
Production (koebd)
3,582
3,787
-205
Liquids -58 kbd: lower entitlements and
higher planned maintenance, partly offset by improved reliability
and winter storm recovery
Gas -879 mcfd: lower seasonal demand,
lower entitlements, and higher planned maintenance, partly offset
by winter storm recovery
Downstream
U.S.
(149)
(113)
-36
Winter storm recovery and improved demand,
more than offset by higher planned maintenance activity
Non-U.S.
(78)
(277)
+199
Higher margins driven by more favorable
industry refining conditions and improved demand, partly offset by
higher planned maintenance activity
Total
(227)
(390)
+163
Margins +190, demand +70, planned
maintenance -220, other +120
Petroleum Product Sales (kbd)
5,041
4,881
+160
Chemical
U.S.
1,282
715
+567
Stronger margins
Non-U.S.
1,038
700
+338
Stronger margins, partly offset by planned
maintenance
Total
2,320
1,415
+905
Margins +1,080, planned maintenance
-180
Prime Product Sales (kt)
6,513
6,446
+67
Corporate and financing
(588)
(849)
+261
Lower retirement-related expenses and
lower financing costs
Results
and Volume Summary
Millions of Dollars
YTD
YTD
(unless noted)
2021
2020
Change
Comments
Upstream
U.S.
1,026
(1,901)
+2,927
Higher prices and reduced expenses; prior
year unfavorable identified items (+315, impairment)
Non-U.S.
4,713
786
+3,927
Higher prices and favorable one-time tax
items, partly offset by higher planned maintenance and unfavorable
foreign exchange
Total
5,739
(1,115)
+6,854
Prices +6,130, expenses +480,
identified items +410, planned maintenance -330, other +170
Production (koebd)
3,684
3,842
-158
Liquids -164 kbd: higher demand including
the absence of economic curtailments, and project growth, more than
offset by lower entitlements, increased government mandates,
decline and higher planned maintenance
Gas +38 mcfd: higher demand, including the
absence of economic curtailments, partly offset by higher planned
maintenance, Groningen production limit, and divestments
Downstream
U.S.
(262)
(202)
-60
Lower margins on weaker industry refining
conditions, and increased planned maintenance activity, partly
offset by reduced expenses and improved demand
Non-U.S.
(355)
567
-922
Lower margins on weaker realized fuels
margins, net unfavorable one-time items including terminal
conversion costs, increased planned maintenance activity, and
unfavorable foreign exchange impacts, partly offset by reduced
expenses and improved demand; prior year unfavorable identified
items
(+341, mainly impairments)
Total
(617)
365
-982
Margins -1,340, demand +260, planned
maintenance -350, expenses +490, identified items +350, other
-390
Petroleum Product Sales (kbd)
4,961
4,862
+99
Chemical
U.S.
1,997
459
+1,538
Higher margins, improved demand, and lower
expenses; prior year unfavorable identified items (+119, mainly
impairments)
Non-U.S.
1,738
152
+1,586
Higher margins and demand, lower expenses,
and favorable foreign exchange, partly offset by planned
maintenance
Total
3,735
611
+3,124
Margins +2,300, demand +290, expenses
+250, planned maintenance -80, identified items +210, other
+150
Prime Product Sales (kt)
12,959
12,182
+777
Corporate and financing
(1,437)
(1,551)
+114
Lower financing costs and net favorable
tax impacts, partly offset by higher retirement-related
expenses
Cash
Flow from Operations and Asset Sales excluding Working
Capital
Millions of Dollars
2Q
2021
Comments
Net income (loss) including noncontrolling
interests
4,781
Including $91 million noncontrolling
interests
Depreciation
4,952
Changes in operational working capital
(380)
Other
297
Cash Flow from Operating
9,650
Activities (U.S. GAAP)
Asset sales
250
Cash Flow from Operations
9,900
and Asset Sales
Changes in operational working capital
380
Cash Flow from Operations
10,280
and Asset Sales excluding Working
Capital
Millions of Dollars
YTD
2021
Comments
Net income (loss) including noncontrolling
interests
7,577
Including $157 million noncontrolling
interests
Depreciation
9,956
Changes in operational working capital
1,573
Higher net payables due to market
conditions
Other
(192)
Cash Flow from Operating
18,914
Activities (U.S. GAAP)
Asset sales
557
Cash Flow from Operations
19,471
and Asset Sales
Changes in operational working capital
(1,573)
Cash Flow from Operations
17,898
and Asset Sales excluding Working
Capital
ExxonMobil will discuss financial and operating results and
other matters during a webcast at 8:30 a.m. Central Time on July
30, 2021. To listen to the event or access an archived replay,
please visit www.exxonmobil.com.
Cautionary Statement
Outlooks, projections, goals, targets, descriptions of strategic
plans and objectives, and other statements of future events or
conditions in this release are forward-looking statements. Actual
future results, including financial and operating performance;
total capital expenditures and mix; cost reductions, including the
ability to meet or exceed announced cash cost and expense reduction
objectives; plans to reduce future emissions intensity and the
expected resulting absolute emission reductions; CO2 volumes
captured and stored; biofuel production; cash flow, dividends and
shareholder returns; business and project plans, timing, costs,
capacities, and returns; and resource recoveries and production
rates could differ materially due to a number of factors. These
include global or regional changes in the supply and demand for
oil, natural gas, petrochemicals, and feedstocks and other market
conditions that impact prices and differentials for our products;
actions of competitors and commercial counterparties; the ability
to access short- and long-term debt markets on a timely and
affordable basis; the ultimate impacts of COVID-19, including the
extent and nature of further outbreaks and the effects of
government responses on people and economies; reservoir
performance; the outcome of exploration projects; timely completion
of development and other construction projects; changes in law,
taxes, or regulation including environmental regulations, trade
sanctions, and timely granting of governmental permits; government
policies and support and market demand for low carbon technologies
like carbon capture; war, and other political or security
disturbances; opportunities for potential investments or
divestments and satisfaction of applicable conditions to closing,
including regulatory approvals; the capture of efficiencies within
and between business lines and the ability to maintain near-term
cost reductions as ongoing efficiencies while maintaining future
competitive positioning; unforeseen technical or operating
difficulties and unplanned maintenance; the development and
competitiveness of alternative energy and emission reduction
technologies; the results of research programs and the ability to
bring new technologies to commercial scale on a cost-competitive
basis; and other factors discussed under Item 1A. Risk Factors of
ExxonMobil’s 2020 Form 10-K.
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 for 2021 periods is shown on page 7 and for 2021 and
2020 periods in Attachment V.
This press release also includes cash flow from operations and
asset sales excluding working capital. We believe it is useful for
investors to consider these numbers in comparing the underlying
performance of our business across periods when there are
significant period-to-period differences in the amount of changes
in working capital. A reconciliation to net cash provided by
operating activities for 2021 periods is shown on page 7 and for
2021 and 2020 periods in Attachment V.
This press release also includes earnings/(loss) excluding
identified items, which are earnings/(loss) excluding individually
significant non-operational events with an absolute corporate total
earnings impact of at least $250 million in a given quarter. The
earnings/(loss) impact of an identified item for an individual
segment may be less than $250 million when the item impacts several
periods or several segments. We believe it is useful for investors
to consider these figures in comparing the underlying performance
of our business across periods when one, or both, periods include
identified items. A reconciliation to earnings is shown for 2021
and 2020 periods in Attachments II-a and II-b. Corresponding per
share amounts are shown on page 1 and in Attachment II-a, including
a reconciliation to earnings/(loss) per common share – assuming
dilution (U.S. GAAP).
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 estimated amounts that are
not yet classified as “proved reserves” under SEC definitions, but
which are expected to be ultimately recoverable. 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 operating expenses", “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
www.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 2021
(millions of dollars, unless
noted)
First
Second Quarter
Quarter
First Half
2021
2020
2021
2021
2020
Earnings (Loss) / Earnings (Loss) Per
Share
Total revenues and other income
67,742
32,605
59,147
126,889
88,763
Total costs and other deductions
61,435
34,245
55,555
116,990
90,661
Income (loss) before income taxes
6,307
(1,640)
3,592
9,899
(1,898)
Income taxes
1,526
(471)
796
2,322
41
Net income (loss) including noncontrolling
interests
4,781
(1,169)
2,796
7,577
(1,939)
Net income (loss) attributable to
noncontrolling interests
91
(89)
66
157
(249)
Net income (loss) attributable to
ExxonMobil (U.S. GAAP)
4,690
(1,080)
2,730
7,420
(1,690)
Earnings (loss) per common share
(dollars)
1.10
(0.26)
0.64
1.74
(0.40)
Earnings (loss) per common share
- assuming dilution (dollars)
1.10
(0.26)
0.64
1.74
(0.40)
Exploration expenses, including dry
holes
176
214
164
340
502
Other Financial Data
Dividends on common stock
Total
3,721
3,715
3,720
7,441
7,434
Per common share (dollars)
0.87
0.87
0.87
1.74
1.74
Millions of common shares outstanding
At period end
4,234
4,228
Average - assuming dilution
4,276
4,271
4,272
4,274
4,270
ExxonMobil share of equity at period
end
158,571
180,183
ExxonMobil share of capital employed at
period end
221,275
251,998
Income taxes
1,526
(471)
796
2,322
41
Total other taxes and duties
8,441
5,683
7,283
15,724
13,180
Total taxes
9,967
5,212
8,079
18,046
13,221
Sales-based taxes
5,448
3,129
4,662
10,110
7,614
Total taxes including sales-based
taxes
15,415
8,341
12,741
28,156
20,835
ExxonMobil share of income taxes of
equity companies
525
(18)
600
1,125
442
Attachment II-a
Exxon Mobil
Corporation
Second Quarter 2021
First
$
Millions
Second Quarter
Quarter
First Half
2021
2020
2021
2021
2020
Earnings/(Loss) (U.S. GAAP)
4,690
(1,080)
2,730
7,420
(1,690)
Identified Items Included in
Earnings/(Loss)
Noncash inventory valuation - lower of
cost or market
—
1,922
—
—
(174)
Impairments
—
—
—
—
(787)
Other items (severance - global workforce
review)
(12)
—
(31)
(43)
—
Corporate total
(12)
1,922
(31)
(43)
(961)
Earnings/(Loss) Excluding Identified
Items
4,702
(3,002)
2,761
7,463
(729)
$ Per Common
Share1
Earnings/(Loss) Per Common
Share
Assuming Dilution (U.S. GAAP)
1.10
(0.26)
0.64
1.74
(0.40)
Identified Items Included in
Earnings/(Loss)
Per Common Share Assuming
Dilution
Noncash inventory valuation - lower of
cost or market
—
0.44
—
—
(0.05)
Impairments
—
—
—
—
(0.18)
Other items (severance - global workforce
review)
—
—
(0.01)
(0.01)
—
Corporate total
—
0.44
(0.01)
(0.01)
(0.23)
Earnings/(Loss) Excluding Identified
Items
Per Common Share Assuming
Dilution
1.10
(0.70)
0.65
1.75
(0.17)
1 Computed using the average number of
shares outstanding during each period.
Attachment II-b
Exxon Mobil
Corporation
Second Quarter 2021
(millions of dollars)
First
Second Quarter
Quarter
First Half
2021
2020
2021
2021
2020
Earnings/(Loss) (U.S. GAAP)
Upstream
United States
663
(1,197)
363
1,026
(1,901)
Non-U.S.
2,522
(454)
2,191
4,713
786
Downstream
United States
(149)
(101)
(113)
(262)
(202)
Non-U.S.
(78)
1,077
(277)
(355)
567
Chemical
United States
1,282
171
715
1,997
459
Non-U.S.
1,038
296
700
1,738
152
Corporate and financing
(588)
(872)
(849)
(1,437)
(1,551)
Net income (loss) attributable to
ExxonMobil
4,690
(1,080)
2,730
7,420
(1,690)
Identified Items Included in
Earnings/(Loss)
U.S. Upstream
Impairments
—
—
—
—
(315)
Other Items (Inventory valuation)
—
45
—
—
—
Non-U.S. Upstream
Impairments
—
—
—
—
(41)
Other Items (Inventory valuation)
—
168
—
—
(50)
U.S. Downstream
Impairments
—
—
—
—
(4)
Other Items (Inventory valuation)
—
404
—
—
(3)
Non-U.S. Downstream
Impairments
—
—
—
—
(335)
Other Items (Inventory valuation)
—
1,190
—
—
(6)
U.S. Chemical
Impairments
—
—
—
—
(90)
Other Items (Inventory valuation)
—
(29)
—
—
(29)
Non-U.S. Chemical
Impairments
—
—
—
—
(2)
Other Items (Inventory valuation)
—
144
—
—
(86)
Corporate and financing
Severance - global workforce review
(12)
—
(31)
(43)
—
Corporate total
(12)
1,922
(31)
(43)
(961)
Earnings/(Loss) Excluding Identified
Items
Upstream
United States
663
(1,242)
363
1,026
(1,586)
Non-U.S.
2,522
(622)
2,191
4,713
877
Downstream
United States
(149)
(505)
(113)
(262)
(195)
Non-U.S.
(78)
(113)
(277)
(355)
908
Chemical
United States
1,282
200
715
1,997
578
Non-U.S.
1,038
152
700
1,738
240
Corporate and financing
(576)
(872)
(818)
(1,394)
(1,551)
Corporate total
4,702
(3,002)
2,761
7,463
(729)
Attachment III
Exxon Mobil
Corporation
Second Quarter 2021
First
Second Quarter
Quarter
First Half
2021
2020
2021
2021
2020
Net production of crude oil, natural
gas
liquids, bitumen and synthetic oil,
thousand barrels per day (kbd)
United States
687
628
665
676
664
Canada / Other Americas
529
483
575
552
520
Europe
16
31
35
25
31
Africa
254
333
253
254
346
Asia
669
783
691
680
789
Australia / Oceania
45
48
39
42
43
Worldwide
2,200
2,306
2,258
2,229
2,393
Natural gas production available for
sale,
million cubic feet per day (mcfd)
United States
2,804
2,642
2,767
2,786
2,733
Canada / Other Americas
189
269
216
203
293
Europe
654
619
1,403
1,026
956
Africa
46
4
24
35
6
Asia
3,433
3,218
3,599
3,515
3,464
Australia / Oceania
1,168
1,238
1,164
1,166
1,241
Worldwide
8,294
7,990
9,173
8,731
8,693
Oil-equivalent production (koebd)1
3,582
3,638
3,787
3,684
3,842
1 Natural gas is converted to an
oil-equivalent basis at six million cubic feet per one thousand
barrels.
Attachment IV
Exxon Mobil
Corporation
Second Quarter 2021
First
Second Quarter
Quarter
First Half
2021
2020
2021
2021
2020
Refinery throughput (kbd)
United States
1,532
1,440
1,532
1,532
1,499
Canada
332
278
364
348
330
Europe
1,223
1,085
1,153
1,188
1,190
Asia Pacific
607
568
545
576
603
Other
164
145
157
161
166
Worldwide
3,858
3,516
3,751
3,805
3,788
Petroleum product sales (kbd)
United States
2,218
1,959
2,077
2,148
2,095
Canada
421
353
409
415
405
Europe
1,297
1,130
1,272
1,285
1,266
Asia Pacific
655
640
665
660
674
Other
450
355
458
453
422
Worldwide
5,041
4,437
4,881
4,961
4,862
Gasolines, naphthas
2,117
1,736
1,996
2,057
1,929
Heating oils, kerosene, diesel
1,704
1,649
1,692
1,698
1,758
Aviation fuels
201
147
183
192
265
Heavy fuels
275
262
257
266
259
Specialty products
744
643
753
748
651
Worldwide
5,041
4,437
4,881
4,961
4,862
Chemical prime product sales,
thousand metric tons (kt)
United States
2,491
1,985
2,190
4,681
4,180
Non-U.S.
4,022
3,960
4,256
8,278
8,002
Worldwide
6,513
5,945
6,446
12,959
12,182
Attachment V
Exxon Mobil
Corporation
Second Quarter 2021
(millions of dollars)
First
Second Quarter
Quarter
First Half
2021
2020
2021
2021
2020
Capital and Exploration
Expenditures
Upstream
United States
925
1,637
810
1,735
4,435
Non-U.S.
1,892
1,940
1,547
3,439
4,268
Total
2,817
3,577
2,357
5,174
8,703
Downstream
United States
193
719
271
464
1,466
Non-U.S.
262
334
199
461
821
Total
455
1,053
470
925
2,287
Chemical
United States
313
563
208
521
1,160
Non-U.S.
217
132
98
315
317
Total
530
695
306
836
1,477
Other
1
2
—
1
3
Worldwide
3,803
5,327
3,133
6,936
12,470
Cash Flow from Operations and Asset
Sales excluding Working Capital
Net cash provided by operating
activities
(U.S. GAAP)
9,650
—
9,264
18,914
6,274
Proceeds associated with asset sales
250
43
307
557
129
Cash flow from operations and asset
sales
9,900
43
9,571
19,471
6,403
Changes in operational working capital
380
1,460
(1,953)
(1,573)
2,402
Cash flow from operations and asset
sales
10,280
1,503
7,618
17,898
8,805
excluding working capital
Attachment VI
Exxon Mobil
Corporation
Earnings/(Loss)
$
Millions
$ Per
Common Share1
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
Third Quarter
6,240
1.46
Fourth Quarter
6,000
1.41
Year
20,840
4.88
2019
First Quarter
2,350
0.55
Second Quarter
3,130
0.73
Third Quarter
3,170
0.75
Fourth Quarter
5,690
1.33
Year
14,340
3.36
2020
First Quarter
(610)
(0.14)
Second Quarter
(1,080)
(0.26)
Third Quarter
(680)
(0.15)
Fourth Quarter
(20,070)
(4.70)
Year
(22,440)
(5.25)
2021
First Quarter
2,730
0.64
Second Quarter
4,690
1.10
1 Computed using the average number of
shares outstanding during each period.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210730005149/en/
ExxonMobil Media Relations, 972-940-6007
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