Exxon 2007 Annual Report Download - page 4

ExxonMobil’s total shareholder return for 2007 was
24 percent. The Corporation distributed a total of
$35.6 billion to our shareholders in 2007 through
dividends and share purchases to reduce shares
outstanding, an increase of $3 billion from 2006.
Over the past five years, we have distributed a total
of nearly $118 billion to our shareholders, including
a 49-percent increase in our annual dividend.
Our 2007 business results demonstrate our commitment
to operational excellence, enduring business controls,
and disciplined capital investment. These results also
reflect ExxonMobil’s long-term industry perspective
and our ability to meet the challenges of the changing
global energy landscape.
Operational excellence, underpinned by our safety and
environmental performance, remains a hallmark of our
success. In 2007 we achieved our best-ever safety results,
with the lost-time incident rate for our combined employee
and contractor workforce at a record-low level. We also
recorded the fewest hydrocarbon spills ever for the
Corporation, with spills to water in our marine operations
leading the way at an all-time low. These accomplishments
are evidence of the commitment, training, and performance
of our workforce throughout our worldwide operations.
ExxonMobil continues to pursue an industry-leading
portfolio of world-class investment opportunities. In 2007
we invested nearly $21 billion in capital and exploration
projects. With today’s major energy projects costing
billions of dollars and operating for decades, a long-term
view that transcends short-term market fluctuations and
business cycles is essential.
Seven major Upstream projects started up during
2007 in Qatar, Angola, Norway, Kazakhstan, and the
Netherlands. Over the next three years, we plan to
participate in the start-up of another 19 major Upstream
projects around the world. One of ExxonMobil’s core
competitive advantages remains our proven ability to
manage large, complex energy projects under difficult
conditions, on time and on budget, to help meet the
growing global energy demand.
In our Downstream and Chemical businesses, we are
implementing projects that increase capacity, improve
yields of higher-value products, meet new product
quality requirements, and further enhance our safety
and environmental performance. To meet the growing
demand for products in Asia, ExxonMobil is progressing
an integrated refining, petrochemicals, and fuels
marketing venture in China and a second world-scale
petrochemical project in Singapore.
The global energy arena is undergoing important
changes. Growing populations and expanding
economies, especially in developing countries, are
forecast to increase world energy demand by about
30 percent between now and 2030. Oil and natural gas
are expected to be the dominant energy sources to
meet this growing demand, and while supplies are
abundant, they are often challenging to access and
develop. New sources are found in remote locations,
severe conditions, and unconventional forms. Public
policies in some countries also limit access or increase
investment risk.
ExxonMobil’s 125th anniversary year was, by many
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 percent and cash flow from operations and asset sales was $56 billion. These exceptional results
reflect the fundamental strength of our integrated businesses in a year of robust industry conditions.
E X X O N M O B I L C O R P O R A T I O N • 2 0 0 7 S U M M A R Y A N N U A L R E P O R T
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