Exxon 2011 Annual Report Download - page 2

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Please find page 2 of the 2011 Exxon annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

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The term Upstream refers to exploration, development, production, and gas and power marketing. Downstream refers to the refining and
marketing of petroleum products such as motor fuels and lubricants.
Statements of future events or conditions in this report, including projections, targets, expectations, estimates, and business plans, are
forward-looking statements. Actual future results, including demand growth and energy mix; capacity growth; the impact of new technologies;
capital expenditures; project plans, dates, costs, and capacities; production rates and resource recoveries; efficiency gains; cost savings;
product sales; and financial results could differ materially due to, for example, changes in oil and gas prices or other market conditions
affecting the oil and gas industry; reservoir performance; timely completion of development projects; war and other political or security
disturbances; changes in law or government regulation; the actions of competitors and customers; unexpected technological developments;
the occurrence and duration of economic recessions; the outcome of commercial negotiations; unforeseen technical difficulties; unanticipated
operational disruptions; and other factors discussed in this report and in Item 1A of ExxonMobil’s most recent Form 10-K.
Definitions of certain financial and operating measures and other terms used in this report are contained in the section titled “Frequently Used
Terms” on pages 44 and 45. In the case of financial measures, the definitions also include information required by SEC Regulation G.
“Factors Affecting Future Results” and “Frequently Used Terms” are also available on the “investors” section of our website.
Prior years’ data have been reclassified in certain cases to conform to the 2011 presentation basis.
To Our Shareholders 2
Financial & Operating Summary 4
The Outlook for Energy 6
Competitive Advantages 8
Global Operations 28
Upstream 30
Downstream 32
Chemical 34
Corporate Citizenship 36
Financial Information 39
Frequently Used Terms 44
Directors, Officers, and Affiliated Companies 46
Investor Information 48
General Information 49