So, that's how I think about it. With over 100 major cyberattacks reported in the United States since the start of the year, including well-publicized ransomware attacks on an American oil pipeline and an international beef supplier, the public is coming to understand how much cybersecurity can affect their everyday lives. Paul Grewal, chief legal officer at Coinbase, sits down with CNBCs MacKenzie Sigalos at Consensus 2023 to discuss the companys response to the SECs threat of enforcement action. Yeah. WebExxonMobil. Darren, you've spent a lot of time in the refining business over the years, and you've had a perspective on these calls that margins were going to start to normalize, and we're seeing some indication of that. And so, we've got a really streamlined and a good view of the marketplace. Thank you. You know, you can look up what people are earning on short-term cash. And we're now, I'd say, in execution mode with respect to putting the organization together, putting in the support systems, bringing in the talent, developing the talent, and growing the talent in that space. chief In 2015 he became ExxonMobil Chemical Company president, a position he held until taking his current position. So, that was a help in the first quarter, some of that feed optimization, and that'll play into it as well. Thanks. So, our expectation as you head into the future is we'll continue to drive efficiencies and deliver structural cost savings onto the bottom line. He was earlier associated with Nissan Motor Corporation, Collabera, Safexpress Private Limited, IBM and Cognizant Technology. If you look overall at where our number of -- I'd say different programs are driving savings for us. Simmons joined Valero in 1987 and began his career as a Process Engineer at the Ardmore refinery and held many leadership positions including Executive Director-Regional Development, Vice President and General Manager of the Ardmore refinery, Vice President and General Manager of the St. Charles refinery, and Vice President-Planning and Economics, before being promoted to his current position. The other point I would make is, you know, feed and feed optimization is a big part of the margin equation as well. Chief Technology Officer They're meant to accompany the first quarter earnings news release, which is posted in the same location. Where we're at now is that capacity is out there and on, and it's just a question of where demand goes. He received his Bachelor of Business Administration and Master of Science degrees in accounting from Texas Tech University, where he also played football. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Dec 5 (Reuters) - Exxon Mobil Corp (XOM.N) is raising the annual base salaries of its top boss and other executives for next year, the largest U.S. oil company said on Monday. Darren, can I ask, in Mozambique, Total seems to be optimistic about the security on the ground. Thomas earned a business administration degree in quantitative analysis from California State University-Fresno in 1983, graduating Magna Cum Laude. I think three-month treasuries are at 5% today. So, there will obviously be periods of time where things constrain that. ExxonMobil Is Near an All-Time High -- Is the Stock Still a Buy? And so, I mean, we're looking -- we're working really hard on our technology portfolio in the Permian. ExxonMobil technologist Stephanie Westbrook discusses the companys efforts to scale up advanced recycling and her role in making it happen. And so, you know, that's all about improving the experience for our employees, for our vendors, for our customers, and continuing to drive efficiencies and, importantly, effectiveness across those organizations. Thanks for joining us today. From 2007-2009, he was the vice president of engineering for ExxonMobil Production Company. He joins from Strides where he served as CIO. Thanks for joining us today. Copyright 2003-2023 Exxon Mobil Corporation. And so, I'd say you kind of have to take a step back from that noise in depreciation. Management Committee | ExxonMobil Through investments in advantaged assets, mix improvements, and cost and operating discipline, we are delivering the structural earnings improvements outlined in our corporate plan update last December and expanding the energy supplies needed to meet growing global demand. Better Dividend Buy: ExxonMobil vs. Enbridge. XOM earnings call for the period ending March 31, 2023. A couple of points, I think, as we're looking at the refining margin. Mike Seavers Joins Yuga Labs as Chief Technology Officer Unlocking the potential of advanced recycling: Natalie Martinez. We would have seen, actually, the benefit of some of that in this recent quarter. She previously served as Senior Vice President-Information Services for Valero, managing the companys Information Systems Development, Support and Infrastructure teams. It's obviously something that we look at regularly, and we know it's important to ensure that dividend is competitive and growing. Executive Team ExxonMobil Just what I'd like to ask on the specific commentary about the 7.2 billion in savings, on track for the 9 billion this year, could you characterize a little bit where that's come from to date? Sam Margolin -- Wolfe Research -- Analyst. But that's down the road. Good morning, Neil. I'll delicately ask this question if I may. Mike Seavers Joins Yuga Labs as Chief Technology Officer. We've seen a lot of capacity coming on. Schmeltekopf graduated Magna Cum Laude with a Bachelor of Business Administration degree from Texas State University in 1987. That's very helpful. He started as a Director in Corporate Development and moved to Business Development in 2015, where he was promoted to Vice President in 2018. Can you characterize where you are in that process and what you think you might have still in front of you in terms of noncore asset sales? Obviously, Kathy was on the Wire this morning talking about how picky Exxon would be on M&A. The digital watchtower - the importance of cybersecurity in the energy industry. That has been, you know, a source of not only demand but also of exports. Exactly what we're seeing today. The organizational changes we've already made are continuing to find things. Exxon Mobil Corporation officers. You know, that balance sheet gives us all the firepower and confidence we need to succeed across a very wide variety of market conditions, which is obviously what this industry faces. We did a lot of work over the last couple of years to validate what we thought the opportunity size was there and what would be needed to get after that. Can you give us a -- thank you. This is not about going out and taking speculative positions. Exxon Mobil's compensation committee approved an increase in the annual salary of Chief Executive Officer Darren Woods to $1.88 million from $1.70 million this ExxonMobil is moving its headquarters to the Houston area as part of a major reorganization that will put its engineering and technology support staff in one unit. So, just to be clear, we've talked about a specific time period externally because we thought that would be helpful in transparency. ExxonMobil That -- I think -- you know, we've been developing that approach, fine-tuning it, you know, testing it, and evolving that concept. Global trading will bring together expertise from across the company in crude, products, natural gas, power, and marine-freight trading. So, I was wondering if you could talk a little bit about the productivity trends and the driver of the strong results that you're seeing there and then, also, how you're thinking about the evolution of production for the balance of this year? You've got projects that are coming on, you know, sooner and bigger if you look at Guyana. Yeah. Prior to joining Valero, Fisher worked for the law firm of Fulbright & Jaworski. And so, that's a big area of savings for us, and that's another organization that we have recently centralized in our global operations and sustainability group. WebWe believe that this technology will address one of the largest environmental challenges of today, CO 2 emissions from industrial and commercial exhaust streams and power generation, said Jason Few, President and Chief Executive Officer of FuelCell Energy. That's true for any of the areas of our portfolio where we've got, you know, a substantial business today and ongoing technology work to make advances. We're working with our partner there, Total. Alan Lee was named the new chief technology officer at Wilmington's Analog Devices. My view is success in technology and developing proprietary technology, which improves either resource recovery or the cost of developing that resource, whatever that is, whatever value lever our technology can bring to the table, that obviously opens up deals space. Materialise NV (NASDAQ: MTLS), a leading provider of Be exceptional. By: Materialise via Business Wire. Jack Williams was elected senior vice president of Exxon Mobil Corporation in 2014. Independent and Diverse Board of Directors. As I said earlier, that has historically come out of Europe, and their cost structures have increased, and so that marginal barrel is now higher, which is underpinning higher Gulf Coast refining. At Premcor and its predecessor, Clark Refining & Marketing, he also held positions in strategic planning, mergers and acquisitions, and planning and economics. From 2005-2007, he served as an upstream advisor for Exxon Mobil Corporation. So, you obviously have a big advantage with your refining footprint and your asset base. Hey, good morning. Like what we're doing there, I think we see some encouraging signs on the early stages of that, and we're going to keep pressing on that, maintain, you know, rigs and the capital levels that we've been talking about pretty consistently. And then with time, that'll get balanced out based on transportation differentials. Just if possible, a quick follow-up. So, obviously, you know, if additional capacity comes on that's much lower cost and that supply overwhelms any growth in demand, then we'll see the marginal price setter change. Analog Devices, Inc. (Nasdaq: ADI) today announced the appointment of Alan Lee to the position of Chief Technology Officer That's what you've seen us do. Locke joined Valero in 2003 as an Audit Specialist in Valero's Internal Audit department where he earned several promotions and ultimately served as Executive Director of Internal Audit. He joined Valero in 2001 in the Risk Management Department. Anjani Kumar has joined Tata AIG General Insurance Company Limited as Chief Technology Officer (CTO) and EVP. Prior to attending the University of Texas, Fraser served in the U.S. Army in 1986-1990. We are committed to being an outstanding corporate citizen and employer, ESG: Environmental, Social and Governance. And frankly, I think it's early with China. ExxonMobil India announces new CEO and Lead Country Manager So, on the Beaumont expansion, can you talk about how the capacity is being absorbed in the market? That's investing in the business and competitively advantaged high-return projects. ExxonMobil engineer Matthew McConomy explains how hes designing advanced recycling systems that can help harness the value of plastic waste. In 1999, he moved to Investor Relations, and in 2004 was named Vice President of Investor Relations. Guyana, we're pleased to announce that we reached final investment decisions for Uaru, fifth offshore project, which will bring on even more production from this low-cost, low-carbon intensity resource. Earnings in our product solutions business benefited from the team's solid operational execution, with top-quartile turnaround cost and schedule performance during a particularly heavy planned maintenance period. I wonder if I could just ask about unit depreciation trends. We like -- you know, we've brought talent in there. Anjani Kumar has joined Tata AIG General Insurance Company Limited as Chief Technology Officer (CTO) and EVP. And I think we're striking a pretty even balance in that regard. WebMark J. Costa Chairman and Chief Executive Officer Read full bio Stephen G. Crawford Executive Vice President, Manufacturing and Chief Sustainability Officer Read full bio Chris M. Killian Senior Vice President and Chief Technology Officer Read full bio Brad A. Lich Executive Vice President and Chief Commercial Officer Read full bio Stephen Richardson -- Evercore ISI -- Analyst. We think that makes a lot of sense. So, I'll risk a follow-up very quickly. Education And so, you generally see refining margins drop off here in kind of this valley between the supply coming back and then demand picking up as you head into early summer and on through the year. He joined Valero in 2005 as part of the Premcor acquisition, serving as Refinery Manager of the Memphis refinery at the time. The US energy firm said cost-cutting measures also contributed to its record $11.4bn (9.1bn) first-quarter profits, up from $5.5bn a year earlier. And at this time, I'd like to turn the call over to the vice president of investor relations, Mrs. Jennifer Driscoll. John Locke is Vice President and Treasurer. I'm happy to answer that. And then in conjunction with that, the COVID impacts took a while for it to unwind through what I'd say is the global economy, which impacted chemical demand. That's been a real focus of that organization. "Kathy" Mikells joined Exxon Mobil Corporation in August 2021 as senior vice president and chief financial officer. So, I think, you know, that's kind of the things to watch. IRVING, Texas-- ( BUSINESS WIRE )--Exxon Mobil Corporation said today that Lawrence Larry W. Kellner and John D. Harris II have joined its board of directors. And so, that's kind of, I'd say, the underlying approach. He previously served as Senior Vice President-Supply, International Operations and Systems Optimization; and Vice President-Crude, Feedstock, Supply and Trading. Soon thereafter, Mark was promoted to Assistant Controller, and ultimately, Senior Vice President of Accounting, in 2012. Rich Lashway is Senior Vice President-Corporate Development andStrategy. It's got to be one where what ExxonMobil brings to the table actually increases what either company would do independent of one another. He previously served as President, and as Chief Operating Officer, responsible for refining operations and commercial operations in marketing, supply and transportation. Mark Schmeltekopf serves as Senior Vice President and Chief Accounting Officer, with responsibility for the companys accounting, budgeting, forecasting and profit-planning procedures, as well as financial statements and reporting, and corporate tax functions. Is there some sort of portfolio effect in here that we should be picking up and how does that rate through the year do you think? Ms. Mikells career in finance spans several industries. [Operator instructions] We'll go first to Neil Mehta with Goldman Sachs. Our diverse portfolio of advantaged businesses, improvements in mix, structural cost savings, excellence in execution are driving industry-leading earnings, cash flow, and shareholder value. Unlocking the potential of advanced recycling: Matthew McConomy. Locke has since served in leadership roles over Strategic Planning, Public Policy, and Communications. Devin McDermott -- Morgan Stanley -- Analyst. Jennifer Driscoll -- Vice President, Investor Relations. In addition, our Beaumont refinery expansion reached nameplate capacity in the quarter. ExxonMobil to Release First Quarter 2023 Financial Results Mr. Woods is currently chairman of the National Petroleum Council, and he serves on the board of directors of the American Petroleum Institute and the board of trustees of the Center for Strategic and International Studies. Joe Gorder became Chairman of the Board on Dec. 31, 2014, and Chief Executive Officer on May 1, 2014. And if you look at the production in the quarter, you guys reported 615,000 barrels a day. In 1994, after earning a Master of Business Administration in Finance from the University of Chicago, she began a 16-year career at United Airlines Holdings Incorporated, where she served in several corporate planning and financial roles before being appointed senior vice president and chief financial officer in 2008. chairman and chief executive officer. He was earlier associated with Nissan Motor Corporation, Collabera, Safexpress Private Limited, IBM and Cognizant Technology. He joined with predecessor Ultramar Diamond Shamrock (UDS), and in his current position with Valero is responsible for company strategy and innovation efforts. This may be a bit of a follow-up on the questions previously about cost structure and the balance sheet. And at this time, I'd like to In early April, we announced a long-term agreement with Linde to capture, transport, and permanently store up to 2.2 million metric tons of CO2 annually. And then we'll see how the rest of the year plays out, but we're sticking, at this point, to same year-end guidance that we gave late last year. ExxonMobil So, just wondering if you could remind us, you know, sort of on a mid-cycle basis how to think about, you know, and how the board thinks about dividend growth because, certainly, you've de-risked some of those foundational earnings. Mr. Berges, 46, most recently served as CFO for Cheops Technology nv/sa, an industry-leading managed service provider in secure IT infrastructures and cloud computing, where he was also a member of the groups Executive Committee. Bill Keillor - Vice President, Global Information Technology And what triggered our emphasis on China trade and the emphasis that we're putting on trade is the reorganization that we made coming out of the functional organizational construct into value chains. It's only if we find a valuable opportunity to do that. After receiving a Bachelor of Science from the University of Illinois, Ms. Mikells began her career in 1987 at General Electric Company as an investment analyst. Gorder served as Valeros Executive Vice President-Marketing and Supply, following tenure as Senior Vice President for Corporate Development and Strategic Planning. And we certainly saw that with the China lockdowns. So, we started growing that in 2018. We care about health and safety, and protecting our employees and neighbors. We'll go next to Doug Leggate with Bank of America. Longer term, I think it comes back to what happens in China. ExxonMobil reports record first-quarter profits of $11.4bn Jason Fraser serves as Executive Vice President and Chief Financial Officer. ExxonMobil He progressed through a number of domestic and international assignments for Exxon Company International, ExxonMobil Chemical Company and ExxonMobil Refining and Supply Company. Darren, I wonder if I could kick off first on disposals, another reasonable contribution from noncore asset sales. Effective On May 1st, two new enterprisewide organizations will be up and running. Yeah. Learn more about applying for a job with Team Valero. All Rights Reserved. So, if economic activity is constrained, then chemical demand is constrained. Today's call is being recorded. We are comfortable with everything we've got in the portfolio. We've now integrated our upstream into those value chains. That's work that we've got to demonstrate to ourselves. Quite a dynamic market. Earlier in his career, he worked as an operations accountant for Exxon Corp. He will continue to lead the growth strategy for Accentures Industry X business, which includes digital manufacturing and intelligent products and platforms. You typically see early in the year a lot of refining turnarounds, which take a lot of capacity offline in that lower-demand season. He is a native of Stoke-on-Trent, England. We like where we've gotten to with that approach. So, I'd encourage you to look at that. In 2014, Mr. Woods was elected senior vice president of Exxon Mobil Corporation. Good day, everyone, and welcome to this ExxonMobil Corporation first quarter 2023 earnings call. The progress we're making across the company is underpinned by the continuing evolution of our business model. Bhullar joined Valero in 2014. The only other thing I'd add is, you know, we obviously brought on our Baton Rouge chemical expansion project late in the fourth quarter. I just would make the final point that, you know, as we look at that -- at divestments, it is a value proposition. And as a reminder, we would like you to limit yourselves to a single question. Yeah. He joined the company from AMD, where he served as head of research and advanced development. The CTO aligns services responsible for computer operations and production, Exxon Mobil raises CEO, top executives base pay | Reuters Then I've got a quick follow-up, please. So, I think we're in -- that's an important context in terms of what we're seeing right now. I would just also mention that we're in a relatively unusual market environment compared to what we've seen in the past. We'll go next to Paul Cheng with Scotiabank. ExxonMobil To Move Its HQ, Reorganize Business Structure - JPT As we said during our Low Carbon Solutions Spotlight earlier this month, our low-carbon projects must be advantaged and deliver competitive returns. In 2013, he transferred to Valero's Investor Relations department, before earning promotions to Vice President and ultimately Corporate Officer. He also has served as Chief Commercial Officer and President of Valero Europe. Thank you, Darren. Chief Technology Officer Internally, we don't actually manage this as, hey, there's a one-time period that we're focused on as opposed to we are focused on continuing to drive structural cost savings over time. She was promoted to Vice President-Human Resources and Administration in November 2015, and to her current position in January 2019. We'll go next to Alastair Syme with Citi. This ongoing success reflects the hard work of our people, executing our strategic priorities and fully leveraging our competitive advantages. Exxonmobil Chief And, you know, about 40% of our shareholders are retail shareholders, so, you know, more of the moms and pops across the globe that, you know, are investors, and so we know it's important.

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