Exxon 2014 Annual Report Download - page 5

Our capacity to process lower-cost ethane into ethylene already leads the industry in the United States. We are growing
that leadership position with the expansion of our site in Baytown, Texas, by adding a 1.5-million-tonnes-per-year, world-
scale ethylene plant, and building two of the largest premium polyethylene lines in the industry at the nearby Mont Belvieu
Plastics Plant. Start-up is anticipated in 2017.
In Saudi Arabia, we commissioned the Clean Fuels Project at the Saudi Aramco Mobil Refinery to reduce sulfur levels in
gasoline and diesel by more than 98 percent to meet more stringent fuel standards in the Kingdom. We are also working
with our joint venture partner, Saudi Basic Industries Corporation, to expand the chemical products manufactured in the
region. A new world-scale, 400-thousand-tonnes-per-year facility, starting up in 2015, will provide a strategic platform to
help meet the growing demand for specialty elastomers.
In Antwerp, Belgium, at our largest and most cost-efficient refinery in Europe, we started construction to install a
50-thousand-barrel-per-day delayed coker to help meet growing demand for cleaner transportation fuels.
The success of our integrated business is achieved by connecting the strengths of each of our individual businesses through
our organization structure, systems, and work processes. The results allow us to maximize the value of every molecule
we produce, refine, or manufacture. ExxonMobil achieves sustained competitive advantages by integrating knowledge of
upstream supply sources with refining and chemical facilities, along with marketing expertise to optimize the conversion
of crude oil, natural gas liquids, and intermediate streams to manufacture high-value products.
Strategic decisions and successes across our business segments are based on a
long-term view of the business and a commitment to effective risk management.
We deliver growth in shareholder value by anticipating, planning for, and
mitigating geopolitical risks and uncertainty throughout our broad, diversified
global portfolio. Our investments are evaluated against a wide range of
economic factors, including commodity prices and market demand,
to ensure leading financial returns throughout the business cycle.
Our Outlook for Energy long-term supply and demand forecast
underpins our strategy and investment plans. With population growth,
rising economic prosperity, and increasing trade and technology,
we project global energy demand to grow 35 percent between
2010 and 2040. While our projections of the world’s long-term
demand for energy have not changed significantly, the current
energy environment certainly has changed dramatically.
Within the last decade, investments and technologies have
unlocked an abundance of new supply sources. Today, many
resource owners are competing for capital investments
and expertise to develop their hydrocarbon endowments.
ExxonMobil’s technology leadership, financial strength, and
major project execution capabilities enable us to pursue
profitable, high-return opportunities as the partner of choice.
These are just some of the endeavors that your investments in
ExxonMobil have made possible. As you read this year’s Summary
Annual Report, you will see your Company at work in many other
innovative and visionary ways as we expand the supply of energy
needed to fuel global economic growth and enable broader
human progress. In these endeavors, you may be assured that
regardless of the business conditions presented to us, we will stay
the course in pursuit of delivering long-term shareholder value.
Rex W. Tillerson, Chairman and CEO
Rex W. Tillerson, Chairman and CEO
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