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2007 Summary Annual Report

Table of contents

  • Page 1
    2007 Summary Annual Report

  • Page 2
    ... - Business Overview Financial Summary Frequently Used Terms 2-3 4-5 6-15 16-17 18-25 26-31 32-35 36-43 44-45 46-47 48 Inside Back Cover Directors, Officers, and Affiliated Companies Investor Information General Information The term Upstream refers to exploration, development, production, and gas...

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    Exxon Mobil Corporation • 2007 SuMMary annual rEport  Meeting the world's fundamental and growing need for energy is a massive undertaking. Providing reliable, affordable energy supplies in a responsible manner enables global economic progress and improves the quality of life for people around ...

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    2 Exxon Mobil Corporation • 2007 SuMMary annual rEport To Our Shareholders In 2007 ExxonMobil delivered a record $40.6 billion in net income, with each of our businesses - Upstream, Downstream, and Chemical - achieving record earnings performance. Return on average capital employed was 32 ...

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    Exxon Mobil Corporation • 2007 SuMMary annual rEport  Rex W. Tillerson Chairman and CEO measures, the strongest in our history. These circumstances play to ExxonMobil's strengths, with our outstanding and proven financial, managerial, technological, and operational capabilities. Our ...

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     Exxon Mobil Corporation • 2007 SuMMary annual rEport Fundamentals of Our Approach: Consistency, Integrity, Discipline, Reliability, and Ingenuity FINANCIAL HIGHLIGHTS (millions of dollars, unless noted) 2007 2006 2005 2004 2003 Sales and other operating revenue (1)(2) Net income Cash flow ...

  • Page 7
    ...long-term business model. Superior 2007 Results • Best-ever lost-time incident rate for our combined employee and contractor workforce • Record earnings of $40.6 billion, with record performance in each of our business functions • Annual dividend per share growth of 7 percent versus 2006, the...

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    Exxon Mobil Corporation • 2007 SuMMary annual rEport 7 Ready access to reliable and affordable supplies of energy is essential to economic progress. Turning crude oil and natural gas into usable products to meet the world's vast and growing energy demand requires complex facilities and constant ...

  • Page 10
    ... operating and financial performance makes us a partner of choice for both conventional and unconventional developments. Resource Additions (percent, 2003-2007) 100 Africa Europe Gas Arctic Acid/Sour Gas LNG 80 (Graph) During the past five years, ExxonMobil has added 15.7 billion oil-equivalent...

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    ... gas processing plants. These integrated sites are designed and operated to maximize the value of each product stream and to achieve cost savings from economies of scale. Effective and efficient use of our resources is the key to delivering long-term profitability and growth in shareholder value...

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    2 Exxon Mobil Corporation • 2007 SuMMary annual rEport Balancing the need for more energy to support economic growth and improvements in living standards while effectively addressing potential risks to the environment is a key challenge facing the energy industry today. At ExxonMobil, we are ...

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    Exxon Mobil Corporation • 2007 SuMMary annual rEport  The ongoing need for new scientific discoveries to help secure our energy future makes developing the next generation of scientists and engineers a global energy challenge. Just as recent technological advances only now enable hydrocarbon ...

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     Exxon Mobil Corporation • 2007 SuMMary annual rEport The Outlook for Energy - A View to 2030 Our outlook is focused on the world's rising energy needs and how we expect these needs to be met. Providing this energy is not easy or automatic. The challenges reflect the global scope of the task, ...

  • Page 19
    Exxon Mobil Corporation • 2007 SuMMary annual rEport 7 World Energy Demand by Fuel Oil Gas Coal Nuclear Annual Growth 2005-2030 Average 1.3% 1.5% 2.0% 0.9% Renewables Biomass, Other Hydro, Geothermal (millions of oil-equivalent barrels per day) 50 40 30 Energy-Related CO 2 Emissions Biofuels,...

  • Page 20
     Upstream RasGas Train 5 in Qatar began production of liquefied natural gas (LNG) in 2007. Train 5 is designed to produce 4.7 million tons per year of LNG, equivalent to 640 million cubic feet per day of natural gas. U P S T R E A M S TAT I S T I C A L R E C A P Earnings (millions of dollars) ...

  • Page 21
    ... on public information. 2007 Results and Highlights Achieved best-ever employee safety performance. Earnings were a record $26.5 billion. Upstream return on average capital employed was 42 percent in 2007 and has averaged 39 percent over the past five years. Earnings per oil-equivalent barrel were...

  • Page 22
    ... of production. Total proved reserves of 22.7 billion oil-equivalent barrels would yield 14.4 years of production at current levels. 2 0 0 7 K E y E X P LO R AT I O N CA P T U R E S An active drilling program contributed to the 2.0 billion oil-equivalent barrels of new resources that ExxonMobil...

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    Exxon Mobil Corporation • 2007 SuMMary annual rEport 2 Invest in Projects That Deliver Superior Returns ExxonMobil continues to deliver superior returns from Upstream projects through disciplined investment and industry-leading project execution. As project scale and complexity increase across...

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    ... Major Project Start-Up 2007 Start-Up 2008 Projected Start-Up (Above) Gas from the Ormen Lange field is processed at a new plant at Nyhamna before being transported 750 miles to the U.K. (Below) Production of LNG from Ras Laffan Liquefied Natural Gas Company II Train 5 began just 29 months after...

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    Exxon Mobil Corporation • 2007 SuMMary annual rEport 2 In Angola, the Kizomba C-Mondo project started production in January 2008 and will be followed by the Kizomba C-Saxi/Batuque project later in 2008. Greater Gorgon • In the Greater Gorgon area offshore Western Australia, engineering and ...

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    2 Exxon Mobil Corporation • 2007 SuMMary annual rEport Maximize Profitability of Existing Oil and Gas Production ExxonMobil applies the most cost-effective technology and operations management systems to each and every asset to maximize the commercial recovery of hydrocarbons. ExxonMobil's ...

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    ... the Golden Pass LNG regasification terminal along the U.S. Gulf Coast, with a planned capacity of about 2 billion cubic feet per day. ExxonMobil is also pursuing an LNG regasification terminal, BlueOcean Energy, 20 miles off the coast of New Jersey. EUROPEAN GAS MARKET The Adriatic LNG terminal...

  • Page 28
    ... integrated with chemical and lubes operations. D O W N S T R E A M S TAT I S T I C A L R E C A P Earnings (millions of dollars) Refinery throughput (thousands of barrels per day) Petroleum product sales (thousands of barrels per day) Average capital employed (2) (1) 2007 2006 2005 2004 2003...

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    Exxon Mobil Corporation • 2007 SuMMary annual rEport 27 Refining & Supply, Fuels Marketing, and Lubricants & Specialties D O W N S T R E A M S T R AT E G I E S Downstream Return on Average Capital Employed ExxonMobil (percent) 40 35 30 25 20 15 10 5 ExxonMobil's Downstream is a large, ...

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    2 Exxon Mobil Corporation • 2007 SuMMary annual rEport Refining & Supply ExxonMobil Refining & Supply encompasses a global network of reliable and efficient manufacturing plants, transportation systems, and distribution centers that provide a range of fuels, lubricants, and other high-value ...

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    Exxon Mobil Corporation • 2007 SuMMary annual rEport 2 I M P R OV I N G O P E R AT I N G E F F I C I E N Cy EMERGING MARKET GROW TH Worldwide cash operating costs at our refineries are substantially below the industry average. We achieve industry-leading unit cost performance by leveraging ...

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    0 Exxon Mobil Corporation • 2007 SuMMary annual rEport Fuels Marketing ExxonMobil Fuels Marketing creates long-term value by selling high-quality products and services daily to millions of customers across the globe. Our respected Exxon, Esso, Mobil, and On the Run brands serve customers "on ...

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    Exxon Mobil Corporation • 2007 SuMMary annual rEport  Lubricants & Specialties ExxonMobil is the world's No. 1 supplier of lube basestocks and a leading marketer of finished lubricants, asphalt, and specialty products. Our three global brands, Mobil, Exxon, and Esso, identify ExxonMobil ...

  • Page 34
    ...of global best practices for steam cracker operations at the Baytown Olefins Plant contributed to ExxonMobil Chemical's record operating reliability and energy efficiency performance in 2007. C H E M I C A L S TAT I S T I C A L R E C A P Earnings (millions of dollars) Prime product sales (thousands...

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    ... public information. 2007 Results and Highlights Best-ever reliability and energy efficiency achieved through continued focus on operational excellence. Earnings were a record $4.6 billion, up 4 percent versus 2006. ExxonMobil continued to benefit from our unique business portfolio, global presence...

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    ... S Businesses Worldwide Rank Based on Market Position Commodities Paraxylene ...#1 Olefins ...#2 Polyethylene ...#2 Polypropylene ...#5 Specialties Butyl Polymers ...#1 Fluids...#1 Plasticizers/Oxo Alcohols...#1 Synthetics ...#1 Oriented Polypropylene Films ...#1 Adhesive Polymers ...#1 Specialty...

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    ...2007 2009 Antwerp, Belgium Singapore Fujian, China Product Specialties 2007 Antwerp, Belgium Baton Rouge, Louisiana Beaumont, Texas Edison, New Jersey Baytown, Texas Notre-Dame-de-Gravenchon, France Pensacola, Florida Singapore Singapore Product Capacity (metric tons per year) (1) Polyethylene...

  • Page 38
    ...AC C O U N T I N G F I R M To The Shareholders Of Exxon Mobil Corporation: We have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated financial statements of Exxon Mobil Corporation as of December 31, 2007, and 2006, and for...

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    Exxon Mobil Corporation • 2007 SuMMary annual rEport 7 S U M M A Ry O F AC C O U N T I N G P O L I C I E S A N D P R AC T I C E S The Corporation's accounting and financial reporting fairly reflect its straightforward business model involving the extracting, refining, and marketing of ...

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     Exxon Mobil Corporation • 2007 SuMMary annual rEport S U M M A Ry S TAT E M E N T O F I N C O M E (millions of dollars) 2007 2006 2005 Revenues and Other Income Sales and other operating revenue (1)(2) Income from equity affiliates Other income Total revenues and other income Costs and Other...

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    Exxon Mobil Corporation • 2007 SuMMary annual rEport  S U M M A Ry B A L A N C E S H E E T AT y E A R E N D (millions of dollars) 2007 2006 Assets Current assets Cash and cash equivalents Cash and cash equivalents - restricted Marketable securities Notes and accounts receivable, less ...

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    0 Exxon Mobil Corporation • 2007 SuMMary annual rEport S U M M A Ry S TAT E M E N T O F C A S H F L O W S (millions of dollars) 2007 2006 2005 Cash Flows from Operating Activities Net income Accruing to ExxonMobil shareholders Accruing to minority and preferred interests Adjustments for ...

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    ... paid to net income (percent) Cash dividends paid to cash flow (1) (percent) Total return to shareholders (annual percent) Market quotations for common stock (dollars) High Low Average daily close Year-end close (1) Net cash provided by operating activities. 7.36 7.28 0.32 0.35 0.35 0.35 1.37...

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    2 Exxon Mobil Corporation • 2007 SuMMary annual rEport R E S E R V E S S U M M A Ry Net Proved Developed and Undeveloped Reserves 2007 (1) 2006 2005 2004 2003 Liquids, Including Oil Sands and Non-Consolidated Reserves (millions of barrels at year end) Net proved developed and undeveloped ...

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    Exxon Mobil Corporation • 2007 SuMMary annual rEport  B U S I N E S S P R O F I L E (1) Earnings After Income Taxes 2007 (millions of dollars, except as noted) 2006 2005 Capital and Exploration Expenditures 2007 2006 2005 Average Capital Employed 2007 2006 2005 Return on Average Capital ...

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     Exxon Mobil Corporation • 2007 SuMMary annual rEport Frequently Used Terms Listed below are definitions of several of ExxonMobil's key business and financial performance measures and other terms. These definitions are provided to facilitate understanding of the terms and their calculation. CA...

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    ..., proved reserves in this report also include oil sands reserves from Canadian Syncrude operations, which are reported separately as mining reserves in our Form 10-K and proxy statement. Oil sands reserves included in this report totaled 694 million barrels at year-end 2007, 718 million barrels at...

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     Exxon Mobil Corporation • 2007 SuMMary annual rEport Directors, Officers, and Affiliated Companies* S TA N D I N G C O M M I T T E E S O F T H E B OA R D Audit Committee J.R. Houghton (Chair), M.J. Boskin, P.E. Lippincott, S.S Reinemund Board Advisory Committee on Contributions M.C. Nelson (...

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    Exxon Mobil Corporation • 2007 SuMMary annual rEport 7 B OA R D O F D I R E C TO R S Michael j. Boskin T.M. Friedman Professor of Economics and Senior Fellow, Hoover Institution, Stanford University William W. George Professor of Management Practice, Harvard University; Former Chairman and ...

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    ...Service representatives are available during normal business hours. Registered shareholders can access information about their ExxonMobil stock accounts via the Internet at computershare.com/exxonmobil. STOCK PURCHASE AND DIVIDEND REINVESTMENT PLAN • 2007 Corporate Citizenship Report • The Lamp...

  • Page 51
    ...Operations. The Investors section of ExxonMobil's Web site (exxonmobil.com), contains the Proxy Statement and other company publications, including ExxonMobil's Financial and Operating Review. These publications provide additional detail about the company's global operations. Exxon Mobil Corporation...

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    5959 Las Colinas Boulevard Irving, Texas 75039-2298 exxonmobil.com Printed entirely on recycled paper annual report 002CS-077