Maya 300 cover story, The Lamp- An ExxonMobil

Mobil 1 AFE – fuel-saving motor oil
An ExxonMobil publication
ExxonMobil’s largest
subsea development
New separator film boost
PLUS
Northeast energy gateway
Canadian oil sands
Solar-powered platforms
Viewpoint:
OFC
Encouraging energy investment
2008 – Number 1
for lithium-ion batteries
Viewpoint
Encouraging
energy investment
Stable tax policies are critical to meeting
America’s growing energy needs.
Getty Images Inc.
1
With many American consumers feeling the pinch at the pump,
some are wondering if energy companies are doing enough to help
by making investments to develop
more supplies.
At ExxonMobil, we are investing
over $20 billion annually, and plan
to continue investing at record levels through the end of the decade
to meet the growing demand for
energy in this country and around
the world.
This builds on a solid record
of investment that goes back
decades. In fact, between 1983
and 2007, our cumulative global
investments totaled about $355
billion – which actually exceeded
our cumulative earnings during that
period. From 2003 to 2007 alone,
ExxonMobil invested $89 billion,
including nearly $25 billion in North
America.
In the future, energy demand in the
United States is expected to grow
considerably. According to the U.S.
Department of Energy, Americans will
need approximately 20 percent more
energy by 2030. Investments such
as ours help meet these needs, while
advancing new technologies and
reducing the environmental impact of
our operations.
Stable tax policy plays a significant role in attracting this scale of
investment. In the past five years
alone, ExxonMobil’s total U.S. tax
expenses were almost $65 billion
– close to $19 billion more than
our U.S.-based earnings over the
period – and our tax payments
have increased as oil prices have
increased.
Today’s energy projects are typically massive, complex undertakings that involve enormous investments spanning decades. Energy
companies can make the kind of
long-range plans required for such
projects – if they have the confidence that taxes will remain stable
over the project’s life.
History backs this up. When
energy companies were unexpectedly singled out in the United
States for higher taxes in the
1980s, investment declined. As
a result, domestic oil production
decreased and U.S. dependence
on imported oil grew, according to a 2006 study done by the
Congressional Research Service.
Clearly, while tempting to some,
raising taxes on energy companies,
especially during periods of high
prices, can be counterproductive.
With American consumers feeling the impact of higher fuel prices,
no change should be made to
tax policy that might impact them
even further. Stable tax policies that
enable energy companies to make
long-term investments in new
energy supplies are the kind of help
American consumers need.
New battery technology
ExxonMobil’s battery
separator film helps propel
the all-electric Maya-300.
Cover photo by Keith Wood
19
7
22
3
Upfront
This issue features several new
developments from across our
business and around the world.
Our cover story, beginning on
page 3, explores how ExxonMobil
plastic films are being used to
improve hybrid and electric-car
batteries, helping them deliver
higher power and run safer.
What’s behind the breakthrough?
Novel, heat-resistant polymers
that are combined into sheets
thinner than a human hair.
Earlier this year, ExxonMobil
began operations at the
Kizomba C development offshore Angola, the company’s
largest subsea installation. The
Mondo phase of “Kiz C” is the
first of 12 startups planned for
2008 that are expected to bring
375,000 oil-equivalent barrels a
day (ExxonMobil share) to world
markets at peak production. You
can read more about this complex project starting on page 7.
A story from Peninsular
Malaysia (page 6) tells how
ExxonMobil is tapping the energy
of the sun to power a network of
highly efficient offshore platforms.
And the offshore activity doesn’t
end in Africa or Malaysia: Our
proposed BlueOcean Energy
floating terminal off the coast of
New Jersey could bring muchneeded supplies of liquefied
natural gas to consumers in the
Northeastern United States. The
full story begins on page 11.
Plus, elsewhere in this issue
you’ll learn how Mobil 1 Advanced
Fuel Economy motor oil can give
you better gas mileage while
reducing vehicle emissions. Other
features include unlocking hardto-reach oil sands in Western
Canada, our marine transportation
excellence, the Mobil 1 NASCAR
relationship and the $125 million
ExxonMobil National Math and
Science Initiative.
We hope you enjoy this issue
of The Lamp.
1
7
ExxonMobil’s largest
subsea development
The first of 12 planned startups for
2008 begins operations offshore Angola
17
25
Viewpoint
Encouraging energy investment
Rex W. Tillerson
Chairman and CEO
J. Stephen Simon
Director and Senior Vice President
Donald D. Humphreys
Senior Vice President
Mark W. Albers
Senior Vice President
Kenneth P. Cohen
Vice President-Public Affairs
Henry H. Hubble
Vice President-Investor Relations and Secretary
Bob Davis
Editor
Patrick Gabriel
GCG
Art Director
Len Shelton
Photography Coordinator
Cynthia Solomon
Production Coordinator
Frances Bruscino
Distribution Coordinator
Please address all Lamp correspondence,
including requests to reproduce any portion
of the magazine, to the editor at Exxon Mobil
Corporation, 5959 Las Colinas Blvd., Irving,
TX 75039-2298.
Bob Davis
Editor
In this issue
3
Power of technology
a boost for batteries
ExxonMobil films help power
hybrid and electric vehicles
6
Solar energy used on
Malaysian satellites
ExxonMobil is tapping the sun to
power a network of offshore platforms
11
Creating a new energy gateway
Proposed project could bring LNG
to the U.S. Northeast
14
Marine groups post
best-ever year
Our progress in preventing marine spills
15
Teachers and students unite
Company helps combat
a gathering storm
19
Steaming for oil in Canada
Research and technology are the
keys to unlocking the reserves in
Cold Lake, Alberta
22
High-powered vehicle
promotes Mobil 1 brand
On or off the track, this engine oil
can’t be beat
Tracing ExxonMobil’s heritage
Book chronicles 125 Years of History
27
Viewpoint
Economies in motion
28
Panorama
Business highlights
from around the world
30
ExxonMobil quarterly
financial summary
Mobil 1 Advanced Fuel Economy
Motor oil offers advanced engine
protection and fuel savings
2
Power of technology
makes future a reality
ExxonMobil’s battery separator film
helps propel the all-electric Maya-300.
Remember when cell phones
were as big as bricks and
seemed just about as heavy to
lug around? What helped them
shrink to today’s sleek proportions was the 1991 debut of a
slim and lightweight new energy
source: the rechargeable lithiumion battery. Today, this mighty
mite powers a host of small,
new-age devices – cell phones,
MP3 players, laptop computers and the like. If only it could
power something as big and
demanding as a car.
Soon it will, thanks to research
and development being carried
out by ExxonMobil Chemical and
Tonen Chemical, a Japan-based
company affiliate that played a
key role in the introduction of the
first commercial lithium-ion battery two decades ago. Together,
they’ve advanced a critical battery component – the separator
– that’s set to boost both the
energy efficiency and the power
3
Story by Shelly Moore Christiansen
of hybrids and electric vehicles.
In December, ExxonMobil
unveiled the innovative technology in Anaheim, California, at the
Electric Vehicle Symposium, an
annual forum showcasing hybrid,
electric and fuel-cell vehicles.
Separator film plays big role
In the makeup of the lithium battery, the separator is one of the
key internal layers. Made from
plastic film, it separates positive
electrodes from negative electrodes to prevent short circuits.
It also shuts down the battery’s
flow of electricity if it overheats.
But conventional separators that
perform reliably in lithium-ion batteries in little cell phones are less
likely to be up to the job in bigger versions designed for cars.
ExxonMobil overcame this barrier
by developing a separator film
that increases the safety margins
and power of the battery.
Most of today’s hybrid and
Photography by Keith Wood
electric vehicles still run on
yesterday’s heavy nickel-metalhydride batteries. Their size
and weight can be reduced,
and performance increased, by
replacing them with lithium-ion
batteries, as has already happened in portable electronics
and cordless power tools.
In 2004, ExxonMobil launched
a determined effort to put battery technology for hybrid and
electric vehicles on the fast track,
so to speak. Hybrid vehicles run
The special polymer
film (shown above
and on the opposite
page) for lithium-ion
batteries used in
hybrid and electric
vehicles resulted from
research efforts by
ExxonMobil Chemical
and Tonen Chemical,
a Japan-based
company affiliate.
on motors powered by alternating fuel types – typically gasoline
and electricity. “The challenge
was, how could we make a
separator film that would work
safely and reliably in a battery that has to run at the very
hot temperatures inherent in
these kinds of vehicles?” says
ExxonMobil Chemical Senior
Vice President Jim Harris.
The company found the solution in a marriage of new product and process technologies.
At its Baytown, Texas, laboratories, ExxonMobil Chemical used
its product-design experience
to develop high-heat-resistant
polymers, while Tonen Chemical
advanced a film-manufacturing
process that combines multiple
polymers into a single ultraporous sheet that’s thinner than
a human hair. The result of their
collaboration is a proprietary
separator film that not only
improves safety performance
and reliability but also boosts the
flow of electricity and extends
battery life. Moreover, the
advanced film can be customdesigned to the specifications
of individual battery makers.
“It’s been exciting for us to
develop a film that allows compact, lightweight lithium-ion
batteries to deliver higher power
and run safer at the same time,”
says ExxonMobil chief polymer
scientist Pat Brant, who led the
research team.
Film in production
to meet demand
The new separator film is already
in production at Tonen Chemical’s
manufacturing plant in Nasu,
Japan. “We’ve been providing
test samples to several battery
manufacturers and independent
laboratories, and we’re helping them conduct commercial
evaluations,” says Andrew Malkin,
president of Tonen Specialty
Separators. Already the world’s
second-largest producer of
4
Electrovaya’s Maya-300, shown here on the
streets of Toronto, is designed for city driving.
5
separator film, Tonen Chemical
is poised to quickly scale up
production of the new product
to meet growing sales. In anticipation of longer-term demand
growth, the company is looking
at building a second separator films plant in Gumi, South
Korea. A government testing
center is also planned to be built
to evaluate advanced battery
systems for hybrid vehicles and
other uses.
Harris predicts that electric
and hybrid cars and light trucks
may be running on lithium-ion
batteries within the next two
years. “We have already seen
the first commercial launch of
an electric vehicle that uses
ExxonMobil’s battery separator film. In January, Electrovaya
introduced the Maya-300, which
is a low-speed vehicle with a
range of up to 120 miles and
designed for urban and neighborhood driving patterns.”
ExxonMobil has long been
committed to improving energy
efficiency and reliability, and
lowering processing costs and
emissions at its refineries, chemical plants, production and other
facilities through a variety of technologies and operational improvements. The company’s advanced
fuels, lubricants and specialty
products are designed to help
engines run cleaner and more
efficiently as well. So the supply of
specialty films for hybrid vehicles
is consistent with these initiatives.
“It’s one of a number of
research and development
efforts we’ve undertaken in the
interest of making vehicles more
fuel efficient,” says Harris. “We
continue to collaborate with
automakers and engine manufacturers on advanced engineand-fuel concepts.”
Last year, ExxonMobil introduced a synthetic lining material
that reduces weight and helps
tires maintain proper air pressure, both important in cutting
fuel consumption. The company
is developing new technologies to
improve the efficiency of internal
combustion engines by up to 30
percent. It is also developing an
onboard hydrogen generation system that can be used in a fuel-cell
vehicle to improve fuel economy
by 80 percent and reduce greenhouse gas emissions by 45
percent, compared to today’s
vehicles using conventional fuel.
Effort boosts efficiency,
cuts emissions
“Improving batteries for hybrid
and electric vehicles is consistent
with these and other long-standing efforts to promote energy
efficiency and emissions controls
across all our operations and
products,” says Harris.
According to independent
researchers J.D. Power and
Associates, U.S. sales of hybrids
reached nearly 355,000 vehicles
last year – about 2 percent of
the automotive market – as more
motorists made buying choices
with fuel economy in mind. Hybrid
sales are expected to grow to
1 million vehicles, or 6 percent
of the U.S. market, by 2012.
Worldwide sales of hybrid vehicles
are expected to rise as well.
“If ExxonMobil’s film separator
can reduce the costs and weight
of battery systems, then hybrids
could become more than a niche
market,” said
To learn more
Erich Merkle,
exxonmobil.com/
battery
vice president
for forecasting
with automotive research firm
IRN, in the Houston Chronicle in
November 2007. “Quite honestly,
that’s the type of thing that’s
going to make hybrids much
more practical.”
“This is what the future looks
like,” Harris concludes, “and we
want to be part of it. It will take
a company with our depth of
technological and investment
resources to help make that
future a reality.” the Lamp
Solar energy
used on Malaysian satellites
for cost savings and environmental benefits
As the largest supplier of natural gas to Peninsular Malaysia
and a leading oil producer, ExxonMobil is tapping the sun to
power a network of offshore platforms.
A typical satellite platform operates on 700 watts of electricity compared
to a home air conditioner that requires about 1,000 watts.
It’s fitting that a unique use of
solar-power technology is succeeding at an ExxonMobil affiliate where there is no winter and
sunlight is plentiful most every
day of the year.
At oil and gas fields off
the east coast of Peninsular
Malaysia, ExxonMobil
Exploration and Production
Malaysia Inc. (EMEPMI) is
combining solar panels and
thermoelectric generators to
power unstaffed oil and gas
platforms run by remote control.
These high-efficiency, environmentally friendly Satellite Field
Development (SFD) platforms
are unique in the Malaysian oil
and gas industry.
“The satellite platforms
are small, basic production
facilities,” says Roziah Noordin,
environment and emergency
response manager in the
company’s Safety, Health and
Environment Department. “They
have no living quarters, and
since they’re unstaffed, they’re
controlled by a centralized platform at a different location.”
Spanning several
generations
EMEPMI’s “first generation” of
these SFD platforms – one platform design replicated at five
offshore sites – was installed in
2001. The platforms use a hybrid
power-generation system to run
basic platform equipment such as
process controls, safety systems
and communications. With this
system, solar panels produce half
the electricity needed to power
the platform, and thermoelectric
generators deliver the other half.
When solar power fluctuates
throughout the day, as well as
during inclement weather, specialized charge controllers and batteries are used to optimize power
generation on the platforms.
Since the installation of the
first-generation platforms proved
so effective, another five were
added through 2005, and the
latest SFD platform, Jerneh B,
was installed in February of this
year. With every generation,
small improvements were made
to the power system to improve
robustness, such as the addition
of voltage regulators on Jerneh B
for consistent power supply during days with intense sunlight.
Uniqueness
brought challenges
Although successful, the SFD
program presented a number
of obstacles the ExxonMobil
Malaysia team had to overcome. Since the platforms are
unstaffed and relatively small,
they are different from the conventional, full-sized offshore
structures containing crews
of workers living and working
onboard. But the novel concept
is delivering impressive results
by reducing costs and extending
the life of platform components.
For example, the electrical
equipment used on these satel-
lite platforms has been carefully selected to consume low
amounts of power, thus saving
money and energy. An SFD
platform uses an average of 700
watts of electric energy; a typical home air conditioner needs
1,000 watts to operate.
Reaping rewards
The hybrid power system on the
SFD platforms is designed to last
and, with minimal maintenance,
can operate 20 years or more.
The solar panels promote the
use of clean renewable energy,
resulting in lower maintenance
and operating cost with zero
emissions. The thermoelectric
generators have no moving
parts; thus they are efficient and
emit little noise.
A joint group of environmental
organizations and trade associations in Malaysia awarded
EMEPMI the prestigious Prime
Minister’s Hibiscus Award for
Exceptional Achievement in
Environmental Performance for
this innovative application of costeffective, eco-friendly technology.
“We’ve seen the advantages
of this hybrid power system as
we’ve installed each generation of
the satellite platforms,” concludes
Noordin. “The efficiency, cost
advantages and environmental
benefits of the system have been
very encouraging, and we continue to make improvements as
we learn more.” the Lamp
Story by Kevin Gault
6
ExxonMobil’s largest
subsea development
The Kizomba C Mondo project offshore Angola
is the first of 12 planned major startups for 2008.
Esso Exploration Angola (Block 15) Limited (Esso Angola), Sonangol and
three joint venturers have opened the valves on Kizomba C, Block 15’s
newest deepwater development, some 90 miles (145 kilometers) off the
coast of Angola. With 36 planned deepwater wells, “Kiz C” will be the
largest subsea development operated by ExxonMobil affiliates worldwide.
7
Story by Richard Cunningham
Photography by Keith Wood
A quiet celebration of first oil on
New Year’s Day began the latest round of production from
Block 15, Angola’s most prolific
offshore concession. The project,
which taps the Mondo, Saxi and
Batuque fields, is expected to
recover some 200,000 barrels of
oil a day and raise the daily production from Block 15 to more
than 700,000 barrels.
The multibillion-dollar deepwater development includes two
Floating Production, Storage
and Offloading (FPSO) vessels
and 36 subsea wells, making
it ExxonMobil’s largest subsea
venture. The twin ships are the
fourth and fifth production hubs
on Block 15, following Xikomba
(2003), Kizomba A (2004) and
Kizomba B (2005). One FPSO is
operating now, and the second
should arrive in Angola in April and
commence production in June.
The drilling program on Kizomba
C will continue through 2009.
With a 40 percent share, Esso
Angola has the largest interest of
the joint venturers and is operator
of the project for the concessionaire, Sonangol. Other participants
in Block 15 are BP Exploration
(Angola) Limited (26.67 percent),
ENI Angola Exploration B.V. (20
percent) and Statoil Angola 15 AS
(13.33 percent).
“The on-time, on-budget
startup of the Kizomba C project is another example of our
commitment to developing
global energy resources in an
environmentally and socially
responsible manner,” says Neil
Duffin, president of ExxonMobil
Development Company (EMDC).
“Our goal is to secure safe and
reliable sources of energy to meet
growing world demand, and the
startup of Kizomba C is another
important step in our work with
Sonangol to develop Angola’s
significant petroleum resources,”
Duffin says. “In addition, a number of other significant projects
are expected to begin operations
this year, including LNG receiving
terminals in the United Kingdom
and Italy, the world’s largest LNG
production facilities in Qatar, and
a new, larger and more efficient
class of LNG delivery vessels,
as well as the startup of the
expanded East Area natural gas
liquids project offshore Nigeria.”
More capacity at home
Along with the boost in oil and
gas production, Kizomba C
has further reinforced Angola’s
increasing ability to support its
energy industry through local
infrastructure improvements,
increased national content and
training of nationals. A fundamental ExxonMobil goal is to
help develop human, social and
economic capacity which, in
turn, benefits a country’s people,
communities and businesses
over the long term. For example,
a decade ago in Angola, nearly
everything needed in the field
was brought in from other countries. Today, in large part through
ExxonMobil’s ever-growing commitments, more construction,
manufacturing, fabrication and
state-of-the-art technologies are
becoming available there. Hightech welding is a case in point.
“It takes exceptional skill to
assemble the sophisticated subsea trees, manifolds and the rest
of the kit for Kizomba C,” says
Mike Flynn, EMDC’s vice president for deepwater projects.
“We are pleased that Angolan
companies and workers can
meet this important supply
need,” Flynn adds. “Their work is
impressive, which is one reason
we were comfortable building
the FPSOs’ high-strength steel
turrets and all 14 of the subsea
manifolds in Angola.”
The first of two Kizomba C
Floating Production, Storage
and Offloading vessels started
production earlier this year.
8
Kizomba C is first of 12 planned startups for 2008
Project
Location
Kizomba C - Mondo
Kizomba C - Saxi/Batuque
ACG Phase 3
Adriatic LNG terminal
Jerneh B
Volve
East Area NGL 2
Qatargas II Train 4
RasGas Train 6
South Hook LNG terminal
Starling
Thunder Horse
Angola
Angola
Azerbaijan
Italy
Malaysia
Norway
Nigeria
Qatar
Qatar
UK
UK
U.S.
Umbilical lines – the veins and
arteries of any subsea development – are also being manufactured in the country. The umbilicals contain all of the hydraulic
fluid and electrical connections
needed to communicate, control
and monitor the performance
of all subsea systems for up to
three miles (five kilometers) from
the FPSO in approximately 2,400
feet (732 meters) of water.
“On each job for the last 10
years, we have worked with
Sonangol to embed new technology and increase Angola’s manufacturing capacity,” Flynn says.
“There are now a host of highquality fabrication yards in Angola.
We’re also seeing a strong growth
in technical capacity so that much
of the engineering work for future
projects is planned to be done
there as well.”
The challenges
With three production facilities
already operating in Block 15,
coupled with their almost daily
tanker traffic, building Kizomba C
took extraordinary planning.
“First, we worked with the
geoscientists and reservoir engi9
Target Peak Production (Gross)
ExxonMobil
Liquids
Gas
Working Interest (%)
(KBD)
(MCFD)
100
–
40
100
–
40
260
–
8
NA
NA
45
–
150
100
50
30
30
40
–
51
80
1,250
30
75
1,250
30
NA
NA
24
5
110
72
210
185
25
neers to decide where the wells
should be,” says Ken Larson,
Kizomba C senior project manager. “Kizomba C is actually
three fields, each with multiple
reservoirs. So it was imperative
that we had the proper placement and number of wells to get
the maximum coverage.”
To save time and money, several wells are drilled from one
location or drill center, with curved
and horizontal wellbores stretching as far as 20,000 feet (6,000
meters) to tap distant reservoirs.
“Each of the three fields has
several such drill centers, and
each drill center feeds wellbore
production through subsea wells,
manifolds and flowlines to the
two FPSO vessels on the surface. The FPSOs then separate
oil, water and gas. Oil is transferred to ocean-going tankers,
and water and gas are reinjected
into the reservoirs for pressure
maintenance. Eventually, the reinjected gas will be recovered and
converted to liquefied natural gas
(LNG), a product that Angola can
sell to markets in North America,
Europe and Asia,” says Larson.
Perhaps the most significant
accomplishment was the project’s
world-class safety performance.
This was achieved by working
closely with the multiple contractors and promoting safety leadership within their respective organizations. As a result, the Kizomba
C development achieved outstanding results: Work was completed in multiple fabrication yards
in Angola without a lost-time accident; at the Singapore shipyard
that built the FPSO, safety performance was six times better than
industry average; and the 2007
offshore construction campaign
Kizomba C is the first of 12
major company-operated
or venture-interest projects
expected to start up in
2008 that will add 375,000
oil-equivalent barrels a day
(ExxonMobil share) at peak
rates to world markets.
was completed without a single
recordable or lost-time accident.
Some assembly required
“ExxonMobil’s experience in managing large projects is one thing
that sets it apart from other companies,” Larson says. “Kizomba
C was essentially two multibilliondollar projects, running in parallel
with a single EMDC project team,
under an unprecedented two-year
execution schedule, coupled with
a complex and highly choreographed installation campaign.”
Throughout the offshore instal-
lation, the team had to make
constant adjustments to the
schedule. If any equipment
arrived late, it would hold up
the work. If any arrived early,
it would be in the way. Drilling
vessels, for example, had to be
carefully scheduled to efficiently
utilize the expensive vessels and
prevent downtime.
“With this complex installation,
we naturally had issues to deal
with,” says Joe Albiez, project
manager for subsea systems.
“The first installation vessels
arrived in August 2007. For the
next four months, we had as
many as seven major vessels,
plus the tugs and supply boats
to support them, all working in a
relatively small area, interacting
every day with the drilling rigs
and the Mondo field FPSO.”
To finish on time and on budget, the project team and its
contractors had to be in tune.
“We developed a high level of
trust and communication among
all the contractor, production,
drilling and project team members,” Albiez says. “Challenges
came up constantly that, if not
addressed immediately, meant
huge additional expenditures for
installation and drilling equipment. If anyone had a problem
or needed
To learn more
something, it
exxonmobil.com/
kizombac
cascaded to all
parties involved
and we had to respond quickly
and decisively as a single team.
That was the mentality of the
project: that everybody counted
on each other and performed
with the team’s best interest in
mind.” the Lamp
10
Creating a new energy gateway
for the Northeastern United States
ExxonMobil’s BlueOcean Energy terminal could be another
vital link in the company’s expanding network of LNG
production, transport and delivery that includes operating
and planned liquefaction facilities in nine countries.
As part of ExxonMobil’s continuing effort to bring much-needed
energy supplies to the United
States to meet the country’s
growing demand, the company
has announced plans to seek
regulatory approval for a floating
liquefied natural gas (LNG) receiving terminal to be built about 20
miles off the New Jersey coast.
The project, called BlueOcean
Energy, will have planned capacity to deliver about 1.2 billion
cubic feet a day of clean-burning
New York
New
Jersey
P
Proposed
terminal
te
location
lo
Anchored about 20 miles off the coast of New Jersey and
about 30 miles off the coast of New York, the floating LNG
terminal will be away from shipping lanes, ports and recreational areas and will not be visible from the shoreline.
11
Story by Bob Davis
Illustration by Pat Gabriel
natural gas – enough to meet the
daily needs of 5 million residential
customers. The terminal will be
anchored to the seabed in 150
feet of water away from shipping lanes, ports and recreational
areas. Startup is anticipated by
the middle of the next decade.
Bill Davis, project executive
for ExxonMobil’s Gas & Power
Marketing Company, describes
the primary aspects of the terminal and how they will work:
“The floating ocean terminal
will be about the size of four
football fields, but since it’s so
far offshore, it will not be visible
from the shoreline. About twice
a week, an LNG ship will dock
at the terminal and unload its
liquid cargo. The double-hulled
terminal features five LNG cryogenic storage tanks onboard and
regasification equipment to warm
the LNG into a gaseous state
for transport to shore by a new
undersea pipeline. The gas will
then be transported by a new or
existing onshore pipeline for sale
to wholesalers, utilities and other
industrial buyers who, in turn,
will supply the fuel to homes,
businesses, public buildings and
power stations.”
Davis says this market is
attractive for LNG imports,
and getting the terminal effort
started now is key to making the energy available when
it’s needed. “We saw a need
to supply more clean-burning
energy to the New Jersey and
New York region, and we’re
bringing ExxonMobil’s proven
technical prowess, commercial
expertise, exemplary safety
record and financial resources
to bear to address that need.”
Ron Billings, vice president
for ExxonMobil’s Gas & Power
Marketing Company, agrees.
“The Northeast is a growing gas
market, and LNG imports are
needed to supplement traditional
domestic supply. This new source
of clean-burning natural gas is a
good project for the region that
will help New Jersey and New
York grow and prosper.”
According to a study conducted by the Rutgers University
Bloustein School of Planning
and Public Policy, BlueOcean
Energy will bring sizable direct
and indirect economic benefits
to New Jersey and to the region
through project spending, the
creation of new jobs, taxes,
Dedicated tugboats
maneuver LNG ship
for berthing
Onboard heaters warm
the LNG back into gas
Insulated storage
tanks maintain the
LNG at cryogenic
temperatures
Surface current, wind
and waves
Retractable
offloading arms for
transferring LNG to
the floating terminal
FSRU rotates to align
with the weather
Supply vessels
from shore
Gas is piped
to shore
LNG ship
preparing to berth
Flexible risers
allow gas to
flow from the
FSRU to the
pipeline
BlueOcean Energy at a glance
16 mooring chains
attached to steel
piles keep the
floating terminal
securely anchored
other revenues and the additional supply of natural gas.
Matt Greer, who is heading
up an ExxonMobil Development
Company team providing
marine, pipeline, regulatory and
technical expertise for the project, says, “We are at the beginning of an extensive permitting
About two times a week an LNG tanker under tugboat escort
will dock at the floating ocean terminal where its cargo will
be transferred to double-hulled storage tanks by retractable
offloading arms. Onboard heaters convert the LNG back to
natural gas, which is then transferred to an undersea pipeline for
transport to shore. The floating terminal can rotate 360 degrees,
depending on current, wind and wave conditions.
process that involves
conducting detailed safety
and environmental assessments, and obtaining regulatory
approvals from multiple federal
and state agencies, including
the Coast Guard, U.S. Maritime
Administration and Federal
Energy Regulatory Commission.”
Greer says the company
will work closely with the State
of New Jersey and conduct
ongoing discussions with communities and other stakeholders
during the preparation of the
Deepwater Port license application and U.S. Coast Guard
analysis of the project.
He also points to the integration and cooperative efforts
within ExxonMobil to effectively
pursue this opportunity. “We’re
drawing from the strengths
of ExxonMobil’s organizations, involving early technology development from our
Upstream Research Company,
12
Some of the members of the BlueOcean Energy project team include (from left) Matt Cross, Mike Gragg, Jeff Chapman,
Jim Wehrfritz, Barry Wood, Alyssa Schilling, Justin Murez, Michael Maher, Susan Reeves, Mike Gabel and Matt Greer.
Photo by Jerry Jones Images
To learn more
blueoceanenergy.com/
Rutgers study reveals vital role for energy in New Jersey
A study of the economics of the BlueOcean Energy project conducted by the Edward J. Bloustein School of Planning and Public
Policy at Rutgers University confirms that each New Jersey residential
consumer uses 20 percent more natural gas than the U.S. national
average. Commercial consumption is similarly 26 percent higher.
Given this demand, the study underscored the importance of a
stable supply of natural gas to the state’s real estate, chemical manufacturing, wholesale and retail trades.
The construction of the project and its operation over an anticipated 30-year life could have the following positive economic effects
for New Jersey, the study concluded:
$3 billion in new gross domestic product
$150 million in construction spending
$366 million in state and local taxes
Some 300 direct and indirect jobs
13
the Development Company’s
work to make the technology ‘project ready,’ the
Downstream marine organizations’ shipping and
operations know-how as well
as the sales and marketing
expertise of the Gas and
Power Marketing Company.”
ExxonMobil and its coventurers are currently
building three other LNG
terminals in Texas, offshore
Italy and in South Wales in
the United Kingdom. Two of
these terminals (UK and Italy)
are expected to become
operational later this year.
The company is advancing
government approvals for a
fourth terminal in Hong Kong.
Along with its venture
interests in the world’s largest LNG production trains
in Qatar and a fleet of newgeneration LNG carriers that
can carry 80 percent more
cargo than conventional
LNG vessels, ExxonMobil is
evaluating the development
of LNG supplies in Western
Australia, Papua New Guinea
and Nigeria. the Lamp
Marine groups
post best-ever year
for spill prevention
A comprehensive long-term effort
to eliminate marine oil spills has
resulted in ExxonMobil’s worldwide
marine affiliates posting their bestever spill performance in 2007.
A tanker navigates the Houston Ship Channel
near ExxonMobil’s Baytown Refinery.
Vessels operated by SeaRiver
Maritime Inc. and International
Marine Transportation Limited
(IMT) completed the year with
no spills. Three minor spills were
experienced on chartered vessels – the fewest ever.
SeaRiver, headquartered in
Houston, operates a fleet of
U.S.-flag tankers. SeaRiver also
provides commercial and third-
party quality vetting services to
ExxonMobil affiliates in North
America, along with a widerange of technical and commercial marine services.
IMT operates internationally
trading tankers and provides
third-party quality vetting services and technical marine
services for ExxonMobil affiliates from its headquarters in
Leatherhead, United Kingdom.
The corporation’s marine
transportation affiliates achieved
a spill rate of less than one teaspoon per million barrels carried,
with approximately 650 vessels
in service each day and with
a load or discharge operation
occurring, on average, about
once every three minutes.
“This success is the product
of teamwork within and across
all marine operating affiliates
and commercial organizations,”
Will Jenkins, president of
SeaRiver Maritime, credits
his company’s people and
their continuous efforts
toward excellence as reasons for the outstanding
2007 performance.
Photo by Janice Rubin
says Will Jenkins, president of
SeaRiver. “High standards and
robust management systems,
processes and technologies,
along with disciplined execution
of work and business practices,
provide the foundation. In all of
this, our world-class people and
continuous efforts to improve performance make the difference.”
John Bree, managing director of IMT, says, “Exxonmobil’s
marine entities work in a cooperative fashion through our Global
Marine Center – and we strive
to achieve performance that
is consistently
To learn more
flawless, efficient
exxonmobil.com/
spillprevention
and competitive.
We are able to
identify and share best practices
with the affiliates we support, as
well as with industry.”
These affiliates, together
with international marine commercial coordination provided
by ExxonMobil’s global marine
transportation optimization group
in Fairfax, Virginia, and a number of other affiliates around the
world, have established a new
benchmark in marine transportation safety performance. the Lamp
Photo by Chris Pearsall Photography
Story by John Wagner
14
Mobil 1 Advanced Fuel Economy
motor oil offers advanced engine
protection and fuel savings
While 0W viscosity Mobil 1 engine oils were introduced a
decade ago, they have always maintained a low profile – until
now. Mobil 1 0W-20 and 0W-30 Advanced Fuel Economy oils
are about to step into the spotlight.
Mobil 1 Advanced Fuel Economy
oils are low-viscosity, synthetic
engine oils that perform a remarkable feat: While they provide the
same engine protection as higherviscosity oils, their low viscosity
improves engine efficiency. A
more efficient engine saves fuel
and benefits the environment by
reducing greenhouse-gas emissions. The ExxonMobil Lubricants
& Specialties (L&S) marketing
team is getting this message out
to consumers.
“Our marketing effort is about
repositioning these products,
Mobil 1 Advanced
Fuel Economy is
now being offered
to consumers
throughout the
United States in
major auto and
retail outlets.
15
Story by Kevin Gault
which have been part of our
Mobil 1 lineup for 10 years,”
says Jeff Jones, an L&S specialties product commercialization
advisor. “We’re communicating
the benefit of improved fuel mileage, as compared to higherviscosity oils, along with the
superior protection and engine
performance.”
Before Mobil 1 Advanced Fuel
Economy, ExxonMobil’s first 0W
product was introduced in 1998
as Mobil 1 0W-30 (0W refers to
the oil’s viscosity at extremely
cold temperatures; 30 is the viscosity at the operating temperature of a running engine).
Mobil 1 0W-20 came along in
2002, and over the years both
products had limited distribution.
Revealing research
But in 2007, market research
revealed a way to increase consumer interest by broadening
the appeal of these products to
a wider range of consumers.
The studies showed that more
than 80 percent of U.S. drivers
want products that will improve
their gas mileage. When choosing motor oil, “improving fuel
economy” is the fourth most
Getty Images Inc.
important consumer benefit.
Because of the growing
demand for improved fuel economy, these lesser-known 0W
viscosity products are forecast
to become mainstream products over the next decade. As a
result, the L&S team decided to
reposition the 0W products to
fill this need.
Car manufacturers are an
important element of the strategy. They face great pressure
to improve their vehicles’ fuel
efficiency to meet car buyers’
demands and government fueleconomy mandates.
“The trend toward 0W-20 and
0W-30 motor oils has been led
by the car builders,” says Jones.
“We’re aligned with them from the
point a new engine is first filled
with oil at the factory to when it’s
serviced at the dealership.”
Top manufacturers such as
Toyota fill most of their 2008 cars
with 0W-20-grade motor oil at
the factory, with other car builders anticipated to follow shortly.
A change to synthetics
Changing to 0W-20 or 0W-30grade motor oil means changing
to a synthetic product, since 0W
oils generally require fully synthetic formulations.
Synthetics are an important
part of ExxonMobil’s offerings,
but they represent only 8 percent
of total motor-oil sales in this
country. The marketing team is
working to increase distribution
of synthetic Mobil 1 Advanced
Fuel Economy products.
“We’ve been working to
achieve nationwide distribution so U.S. consumers can
buy this product locally,” says
Shonodeep Modak, retail
marketing advisor, “and we’ve
reached that goal. Since March,
Wal-Mart has offered Mobil 1
Advanced Fuel Economy 0W-20
and 0W-30 in 3,400 stores. The
product will also be carried at
Advance Auto Parts, Auto Zone,
CSK Auto, Checker, Schucks,
Kragen and Pep Boys. In all, it
will be in about 12,000 stores
by the end of 2008.”
Environmental and
consumer benefits
Consumers who use Mobil 1
Advanced Fuel Economy can
realize a potential 2 percent
improvement in fuel economy,
which can translate to more
than $400 in savings during the
life of a typical vehicle, based on
a comparison with those grades
most commonly used. Actual
savings depend upon vehicle/
engine type, outside temperature, driving conditions and your
current engine-oil viscosity.
Mobil 1 Advanced Fuel
Economy motor oils can benefit
the environment as well. Greater
fuel economy means less fuel
used, which means fewer vehicle
emissions.
If only one-third of U.S. motorists reduced their gasoline consumption by 2 percent, almost
1 billion gallons of
To learn more
gasoline and 8 million
mobil1.com
tons of carbon dioxide emissions would
be saved every year. This is the
equivalent of taking about 1.5
million cars off the road.
Jones sums it up: “Mobil 1
Advanced Fuel Economy oil is
synthetic technology designed
to help consumers improve fuel
efficiency and reduce emissions,
which are benefits that are very
important for today’s world.”
the Lamp
16
Teachers and
students unite
to combat a
gathering storm
In a 2005 landmark study of America’s ability to compete in
the world marketplace, the National Academies reached a
sobering conclusion: “The scientific and technological building blocks critical to our economic leadership are eroding at
a time when many other nations are gaining strength.”
Part of the more than $13 million in grants from
ExxonMobil’s National Math and Science Initiative
program is being used to encourage high school
students to pursue college-level studies.
Gathering Storm conference
In April, the National Academies will conduct a one-day
conference, sponsored by ExxonMobil and hosted by
the National Academies, in Washington, D.C., to assess
progress in meeting the challenges of the Gathering
Storm report.
Panel groups composed of Cabinet secretaries,
members of Congress, state leaders and others will
provide their perspectives. Rex Tillerson will speak at a
dinner the night before the conference.
17
Story by Bill Corporon
The study, Rising Above the
Gathering Storm, stresses the
need to improve math and science education in the nation’s
elementary and secondary
schools. To help address these
concerns, in March 2007
ExxonMobil announced a commitment of $125 million to
establish the National Math and
Science Initiative (NMSI). Support
for NMSI also comes from the
Bill & Melinda Gates and Michael
& Susan Dell Foundations.
NMSI has selected two proven
programs for national scale-up: a
program to develop a new generation of highly qualified math
and science teachers; and a
training and incentive program to
encourage students to take college-level courses in high school.
Attracting teachers
NMSI awarded more than $30
million to 13 colleges and universities. The grants – as much as
$2.4 million per school – will help
establish teacher training modeled on the University of Texas’
“UTeach” program. UTeach is a
collaborative effort between the
colleges of Natural Science and
Education. UTeach students can
earn a math or science degree
and teacher certification through
a compact degree plan. One
study found that more than 80
percent of UTeach’s alumni were
still teaching after five years,
compared with a national average of about 50 percent.
At the University of Kansas, a
grant recipient, the UKanTeach
program is a joint effort of the
College of Liberal Arts and the
School of Education.
Program coordinator Jan
Lariviere of the KU Center for
Science Education says the
shortage of math and science
teachers has long been a concern in Kansas. “More than 40
percent of the state’s teachers leave the field within seven
years,” she says. “Teaching
licenses in the sciences have
been declining steadily.”
To recruit KU students to
UKanTeach, Lariviere and others make presentations at large
lectures and in other classroom
settings. First-year and transfer
students receive letters explaining the program. E-mails go out
to students in science, technol-
Grant recipients
ogy, engineering and mathematics, encouraging them to consider teaching careers.
Incentives to enter the program include free tuition for initial
courses, paid internships with
nonprofit organizations, and
long-term mentoring and professional development.
Lariviere says the program
often attracts students who
are uncertain about becoming
teachers. “UKanTeach gives
them the chance to learn what
a rewarding career teaching can
be,” she says.
Getting a jump on college
NMSI also has provided grants
of up to $13.2 million to seven
state nonprofit organizations. The
funds will be used to encourage
high school students to take
Advanced Placement Program
(AP) courses in math, science
and English, and to improve the
skills of AP teachers.
The Advanced Placement
Program allows students to pursue college-level studies while still
in high school. Students who do
well in AP classes are prepared
to tackle college-level courses.
In Alabama, a $13.2 million
NMSI grant was used to establish
A+ College Ready, which provides
funds to individual schools to promote AP study and instruction.
“When we received the NMSI
grant,” says Mary Boehm,
president of A+ College Ready,
“we immediately asked schools
in two counties to submit proposals describing how they
would use the money. Nineteen
schools applied.”
Teams of experts made fullday visits to each school. They
spoke with principals, counselors
and students, and met individually with classroom teachers.
The 12 schools selected will
receive training and incentives to
help expand their AP programs.
A+ College Ready will pay for
AP teachers in math, science
and English to hone their skills
at the College Board’s Advanced
Placement Program Summer
Institutes. Experienced AP teachers will coach and mentor classroom instructors.
Teachers receive stipends
to compensate them for the
extra time and work involved in
conducting AP classes, and stu-
dents can earn money as well for
excellent performance.
“Financial incentives are a motivating factor,” says Boehm, “just
as they are in the business world.”
Funds are also used to purchase and upgrade classroom
equipment and supplies, technological resources and books.
“Our teachers are very excited
about this program,” says Boehm.
“It gives them the chance to help
many deserving students.”
Schools receiving NMSI
grants to establish UTeach
programs: Northern Arizona
University, University of
California at Berkeley,
University of California
at Irvine, University of
Colorado at Boulder, Florida
State University, University
of Florida, University of
Houston, University of
Kansas, Western Kentucky
University, Louisiana
State University, Temple
University, University of
Texas-Dallas and the
University of North Texas.
Organizations awarded
NMSI grants for AP and
pre-AP courses: A+ College
Ready (Alabama), Arkansas
Advanced Initiative for
Math and Science Inc.,
Project Opening Doors
(Connecticut), Advance
Kentucky, Mass Insight
(Massachusetts), Virginia
Advanced Study Strategies
Inc. and Mentoring
Advanced Programs for
Students (Washington).
Resource development
NMSI is one of many programs
ExxonMobil sponsors to improve
math and science education.
“ExxonMobil invests in people
and communities around the
globe,” said Chairman Rex
Tillerson in a 2007 speech
announcing the NMSI program.
“We do so because we believe
that meeting the
world’s economic,
To learn more
exxonmobil.com/
energy and envimathandscience
ronmental challenges requires the
development of the world’s most
powerful natural resource – the
human mind.” the Lamp
18
Steaming for oil in Canada
Research and technology are the keys to
unlocking the reserves in Cold Lake, Alberta.
At Cold Lake, Imperial Oil
injects high-pressure steam
into the ground to coax the
oil to the surface.
Alberta is a vast Canadian territory of rolling prairies, vibrant
cities, mountain hamlets and
turquoise lakes. It has an air that
speaks of both calm and excitement, of prosperity, innovation
and ingenuity. This is particularly
apparent in northern Alberta,
where a series of geological
events occurring more than 100
million years ago left behind a
huge swath of hydrocarbons.
Also referred to as oil sands,
northern Alberta’s heavy oil
reserves are estimated to be the
19
Story by Amanda Coyne
Photography by Ed Lallo and Shannon Oatway
world’s largest-known hydrocarbon resource. With about 300 billion barrels of known recoverable
reserves, the oil sands exceed
even Saudi Arabia’s reserves. And
Imperial Oil Ltd., an ExxonMobil
affiliate, is working diligently to
develop the oil sands to feed an
increasingly energy-hungry world.
“The global demand for energy
in the year 2030 will be about
40 percent higher than it was
in 2005,” says Randy Broiles,
Imperial Oil’s senior vice presi-
dent of the resources division.
“Canada’s oil reserves are contributing to world supply today,
and its resources will become
increasingly important. The country offers a vital energy supply in
a stable political environment.”
But while the prize is huge, producing this heavy oil presents a
daunting technological challenge.
This is not your conventional
sweet crude that bubbles from
the ground. The oil sand has a
consistency somewhere between
Photo by Shannon Oatway
ketchup and peanut butter. It
has taken a multibillion-dollar
investment to turn it into something to put in your car.
What makes it all the more
challenging is the two distinct
means by which the oil is produced. In the Athabascan region
of Alberta, the sandy earth just
below the topsoil is drenched in
oil, and the production process
involves mining to separate the
oil from the sands. Syncrude
Canada Ltd (Imperial interest
25 percent) employs mammoth
dump trucks and shovels, along
with cutting-edge oil-sands
technology, capable of producing up to 350,000 barrels of oil
a day. Planning is under way to
develop a new Imperial Oil and
ExxonMobil Canada oil-mining
project called Kearl, in an area
that could yield over its life 4.6
billion barrels of oil.
In another area of Alberta
called Cold Lake, the oil is about
1,500 feet below the surface, too
deep to be mined. Imperial Oil
is the sole producer of a field in
Cold Lake that in 2007 produced
an average of more than 150,000
barrels of oil a day. The reserve,
nestled among evergreens, is the
largest thermal in-situ oil sands
operation in the world and the
premier in-situ project in Canada.
Above ground, with about 200
pads each containing from 20 to
30 wells, Cold Lake looks and,
in some ways, acts like a conventional oil operation. Where it
differs is in the incredibly complex
operation that happens below the
surface, where the thick oil stub-
bornly sits, and where Imperial Oil
has been tremendously successful at coaxing it out.
“We have been a pioneer in
the development of Alberta’s vast
oil sands resources for many
decades – in both in-situ and
mining projects,” says Broiles.
“It’s taken an incredible commitment and a continued focus
in research and technology
development and our growing
expertise in thermal operations.
We’re going to continue with the
success we’ve experienced in
these areas.”
Steaming for oil
Imperial Oil’s Allan Lariviere, manager of Cold Lake geosciences,
calls the area a “geological sweet
spot” for in-situ oil extraction.
In layman’s terms that means
there’s a lot of oil there, and
Imperial Oil has been working in
the area since the 1960s, when
it launched a series of research
projects that today make it so
successful, to produce that oil.
Those research efforts from
the beginning have focused on a
process called cyclic steam stimulation (CSS), nicknamed “huff
and puff.” In 1966, the company
applied to patent the process,
and today it is the industry standard for in-situ recovery.
As Imperial’s Vice President
of Oil Sands Development and
Research, Eddie Lui, explains
it, CSS is a process whereby
steam produced in large boilers is injected into the ground
at very high pressures, where it
soaks, softens and mobilizes the
oil from most of the sand. After
a set period – anywhere from a
few months to a few years – the
heavy oil and water are pumped
to the surface. After the water is
removed, the oil is mixed with a
light hydrocarbon liquid to make
it less viscous and enable it to
be shipped through pipelines to
processors to North American
markets.
“It may sound like a simple
process,” Lui says, “but it took us
until 1985 – more than 20 years
of working with the technology –
to make it commercially viable.
When we first started, we were
Senior Vice President
Randy Broiles says one of
the secrets of Cold Lake’s
success is the information exchange between
company researchers,
geoscientists, engineers
and other staff members.
20
The sophisticated equipment behind Eddie Lui, vice president of oil sands development
and research, simulates how solvents, steam and oil interact underground.
only producing about 13 percent
of the heavy oil in the reservoir.
Now, we are at about 30 percent. The difference is a tremendous amount of new technology
and research.”
Some of the advances include
computer-generated mapping
to understand the reservoir and
better predict how the steam will
loosen up the oil. Directional drilling techniques have also helped
increase a well’s reach and coverage, as well as
To learn more
imperialoil.com
lessen the environmental footprint.
The company ttook a phased
Th
approach to development, to
allow advances in technology to
be fully incorporated into each
new production phase, Lui says.
He is particularly excited about
another Imperial Oil innovation
called liquid addition to steam to
enhance recovery or LASER, a
process that involves adding spe21
cial solvents to steam to increase
a well’s life and enhance efficiency.
The company is in its first phase
of commercializing the innovation.
“We’re always working to do
better,” Lui says, “and we continue to look at new processes
to further improve recovery while
protecting the environment.”
Another key to Imperial’s success is its cogeneration plant,
which supplies the operation’s
electricity, and a state-of-the-art
water-recycling plant. The company’s commitment to reusing water
(the plant recycles 95 percent
of approximately 625,000 barrels of water needed daily for oil
production) has made Cold Lake
a model of efficiency in the booming Canadian oil sands industry.
“We have put a tremendous
amount of time and resources
into our commitment to limit
freshwater requirements,” Sandy
Martin, Cold Lake’s plant opera-
tions manager, says. “In doing
so, we’re helping the environment, the community and the
company.”
Integration through
all of the phases
Imperial Oil’s Randy Broiles says
that one of the keys to Cold
Lake’s success is the company’s
integrated staff, where executives work with researchers, who
work with geoscientists, who
work with engineers, who work
with plant managers.
“This is a highly integrated
team,” says Broiles.
Ron Myers, who holds a Ph.D.
in chemistry and is Imperial’s
manager of facilities and environment research group, agrees.
Imperial has provided $10 million
in funding over a five-year period
to the Center for Oil Sands
Innovation at the University of
Alberta in Edmonton. The funds
are being used for research
to enhance productivity and
sustainability of oil sands operations. Myers’ job is to take that
research and apply it to the
field. In doing so, he gets to see
firsthand the kind of integration
Broiles refers to.
“We all have different responsibilities, but end of day we work
closely together to increase
production, lower costs and
increase environmental performance,” Myers says.
Broiles says it’s the company’s
commitment to technology –
and this kind of cooperation
across the field – that gives
Imperial Oil the edge when
working in Canada’s oil sands.
“Our technological advances
make oil sands extraction and
production economically and
environmentally attractive while
providing a strong competitive
advantage.” the Lamp
High-powered vehicle
promotes Mobil 1 brand
It sounds like thunder in the distance. Forty-three
rumbling, 750-horsepower race cars building speed
as they head into the turn, a multicolored mass of
state-of-the-art machinery hurtling down the track at
180 miles per hour, straddling the fine line between
peak performance and total engine failure.
The sights and sounds of NASCAR racing stir the emotions of 75 million fans across the United States. That’s
why ExxonMobil chose to sponsor the No. 77 Mobil 1
Dodge, piloted by Sam Hornish Jr., for 30 races during
the 2008 NASCAR Sprint Cup season. The sponsorship
is an integral part of our marketing program to promote
Mobil 1, the world’s leading synthetic motor oil.
NASCAR racing is one of the leading spectator
sports in America. It’s the number two regular-season
sport on television, with broadcasts in more than
150 countries. Devoted NASCAR fans buy more than
$2 billion in licensed products annually, and more
Fortune 500 companies sponsor NASCAR than any
other sport.
Continued on page 23
ExxonMobil is sponsoring the
No. 77 Mobil 1 Dodge driven by
Penske Racing’s Sam Hornish Jr.
Story by Kevin Gault
Photography by Steven Rose
22
A longtime supporter
Sponsoring NASCAR race teams
isn’t new for ExxonMobil – the
company has been involved with
the sport for more than 20 years.
“We’ve sponsored NASCAR
race teams for a long time,
beginning with a sponsorship
in the mid-1980s,” says Nancy
Carlson, director, strategic global
alliances, ExxonMobil Lubricants
& Specialties (L&S).
“We also have a 17-year relationship with Roger Penske and
Penske Racing – the race team
behind this year’s Mobil 1 car.
And whether we’re racing with
that team in the NASCAR or ICS
series, with Porsche and Corvette
in ALMS (American Le Mans), in
the Porsche SuperCup series,
or on the Grand Prix tracks
around the world with Mercedes
McLaren Formula 1, Mobil 1
technology is tested to the
extreme in these very challenging
conditions. These racing series
provide us with a proving ground
for the oil and enable us to demonstrate that our Mobil 1 brand
can handle just about anything.”
Unlike ExxonMobil, driver Sam
Hornish Jr. is new to NASCAR
this season, making his full-time
stock-car debut after starring for
eight years in the open-wheel
IndyCar Series. Hornish won
the IndyCar championship three
times and the Indianapolis 500
in 2006. He says the switch to
NASCAR won’t be easy.
“The cars we drive in NASCAR
are much heavier than Indy cars
– they weigh about as much
as a minivan,” says Hornish.
“Because of the weight, they
handle differently than Indy cars
and produce more power. Those
things will take some getting
used to. The support of Penske
Racing and the sponsorship
from Mobil 1 will help make that
adjustment easier.”
Driving in his first NASCAR
race, Sam Hornish Jr. was the
highest-finishing rookie in this
year’s Daytona 500, placing
15th out of 43 starters.
23
Clear visibility
This season, ExxonMobil is the
primary sponsor of the No. 77
Mobil 1 Dodge, which means
a large Mobil 1 logo is emblazoned on the hood. Placing the
logo just right so fans clearly see
Mobil 1 as the car whizzes by at
high speeds takes some doing.
“When one of these cars
circles the track at 180 miles
an hour, the first thing you see
is the name on the hood – it’s
highly visible to fans on television
and at the racetrack,” says Pat
DiDomenicis, L&S motorsports
manager. “To make the Mobil 1
logo easy to see, we’ve done
testing in which we tried everything – different color hoods,
different-shaped logos and different stripe patterns – until we
Penske driver wins Daytona
2008 Daytona 500 champion Ryan Newman – joined by
Kurt Busch, with a strong second-place finish, and Sam
Hornish Jr., the highest-finishing rookie, placing 15th overall
– made a strong team effort for Penske Racing’s NASCAR
efforts in the 50th running of the Daytona 500. Newman’s
win brought Penske Racing its first Daytona 500 victory.
And what a victory it was, as Busch teamed with
Newman during the final laps of the race, driving close
behind him to create favorable air currents that helped push
Newman to the lead to take the checkered flag, giving
Penske a 1-2 finish.
Getty Images Inc.
Ryan Newman,
Daytona 500
champion
Whether driving on a NASCAR track or in stop-and-go traffic,
vehicles get maximum protection from Mobil 1 engine oil.
found the best arrangement.”
The entire NASCAR promotional program is based on
exhaustive research. After segmenting the NASCAR fan base
according to levels of interest in
the sport, the ExxonMobil marketing team has targeted avid
NASCAR fans. Typically, these
fans are car enthusiasts who
want to learn more about products such as synthetic motor
oil and the benefits of using it
in their cars.
A varied marketing effort
The marketing campaign for
Mobil 1 includes TV, radio, print
and online advertisements; a
retail sweepstakes; promotions
at Exxon, Mobil and On the
Run retailers; and an interac-
tive Mobil 1 Racing “microsite”
(www.mobil1racing.com). The
site gives race fans interactive
content and an up-close look at
the Mobil 1 No. 77 race team
and NASCAR.
A key message of the campaign is that even everyday driving can create challenging conditions for a car’s engine. “When
you travel almost anywhere in the
country, you’re going to encounter driving extremes, situations
in which your engine is under a
lot of stress,” says Jan Crowe,
Americas marketing manager.
NASCAR race teams know
all about engine stress. During a
race, engine temperatures can
exceed 300 F. Mobil 1 motor
oil can withstand such high
temperatures without significant
breakdown of viscosity, a critical
factor in a sport in which engine
performance determines success
or failure. That’s why Mobil 1 is
the Official Motor Oil of NASCAR.
Mobil 1 technology is used by
more than 50 percent of the race
teams in NASCAR’s three circuits.
“We want to demonstrate to
consumers that whether you’re
racing on a NASCAR track or
driving in stop-and-go traffic,
SuperSyn, the antiwear technology in Mobil 1 oil, gives your
engine maximum protection,”
Crowe says. “The technology
behind Mobil 1’s performance in
NASCAR helps show how the
product can benefit both race
teams and race fans.”
This multifaceted sponsorship
involves the race team, fans and
elaborate promotions that are all
tied to a single goal of capturing
the racing enthusiasts’ interest. Research shows that after
NASCAR fans develop an emotional connection to a brand, they
often purchase that product.
“The NASCAR sponsorship is
a means to an end, and that end
is to increase sales and market
share of Mobil 1,” says Dermott
Ryan, communiTo learn more
cations manager.
mobil1racing.com
“We’re leveraging
the consumer passion and loyalty for NASCAR and
the immense scale of the sport
to send our marketing message
and make Mobil 1 the best-selling
motor oil in the industry.” the Lamp
24
ExxonMobiltraces
history
book
company’s heritage
Last year, Exxon Mobil
Corporation marked the 125th
anniversary of the formation of
the Standard Oil Trust in 1882.
To commemorate this milestone, the company published
a limited-edition, 128-page
book tracing the history of
Exxon, Mobil and their predecessor companies from
the pre-trust period when
founder John D. Rockefeller
Sr. first became involved in
the oil trade, through the 1911
dissolution, the World Wars,
postwar expansion and rising
internationalism, to the 1999
merger and beyond.
25
Story by Bob Davis
Containing hundreds of
period photographs, many
never before published, the
volume was sent directly to all
82,000 worldwide employees
in addition to some 47,000
U.S. retirees. Copies of the
book were also donated to
public libraries in major metropolitan areas of the United
States and in towns and cities where the company has
significant operations. Special,
leather-bound editions were
presented to world leaders
and government officials.
An interesting aspect of the
book is the chapter content,
which places ExxonMobil’s
history in the context of world
events, with sections also
containing pictorial timelines
highlighting significant dates,
achievements and individuals. Special features include
technical and safety, health
and environmental milestones,
ExxonMobil corporate community investments, a detailed
organizational history and
Rockefeller family charitable
donations.
“The management of
ExxonMobil is justifiably proud
of what the corporation has
accomplished in these 125
Standard Oil’s elegant headquarters
building at 26 Broadway opened in
1885 and for many years was the most
famous business address in the world.
Some reader comments:
Thank you so much for documenting the history of ExxonMobil and
for providing it to employees and retirees.
Thank you for your gift. The book is an excellent introduction to
company operations for new hires and a fresh survey for old hands.
Baytown, Texas
Santa Rosa, Calif.
Thank you for the beautiful historical overview. This company has
been my lifelong friend and benefactor since 1948 when my grandfather exhorted me to go down to “The Standard” and tell them
to give me a job because my grandfather worked in the Bayonne
Refinery for 38 years. He figured that was reason enough for you to
hire me and, apparently, it was!
Words cannot express my appreciation for the 125th book. People
all too often write to complain, and too seldom to say thank you.
This is a long-delayed thank you.
Wenonah, N.J.
Havertown, Pa.
I write to extend my sincere thanks for the
most beautiful and fascinating publication of
the 125-year history of ExxonMobil.
It is a real honor to receive this wonderful gift, 125 Years of History.
The management and corporation are doing an outstanding job.
Tarzana, Calif.
To learn more
exxonmobil.com/
history
Houston, Texas
The oil industry is far different from what it was 125 years ago and
I think ExxonMobil is one of the reasons that we have made such
great forward progress. Because I am interested in history, and the
oil industry in particular, this book is a great addition to my library.
Photo by Truitt Rogers
Bandon, Ore.
Bedouin tribesmen gather
vast herds of camels and
other livestock at a water
well originally drilled in the
late 1940s to support an
Aramco exploratory oil well.
years, and we felt this volume
would be a meaningful expression of our deep appreciation
for the contributions of our
employees and annuitants on
this historic occasion,” says
Rex W. Tillerson, chairman and
CEO. “I also want to extend
my sincere thanks to the many
individuals who have sent cards
and letters expressing how
much they have enjoyed the
book, and how it has served
to underscore ExxonMobil’s
long-standing commitment to
technological innovation and
the supply of reliable energy for
an ever-growing and changing
world.” the Lamp
Socony-Vacuum
Socony
Vacuum and its successors
often promoted high-speed test cars
on Utah’s famous Bonneville Salt Flats
to demonstrate the capabilities of its
motor oils and other products.
A scientist displays the company’s
company s
methanol-to-gasoline model.
26
Viewpoint
Economies in motion
Developing countries will lead transportation demand growth through 2030.
World Energy
Demand in 2030
By Sector
History shows that when perglobal energy demand for
Residential/
sonal incomes rise, so does
transportation will rise by an
Commercial
vehicle ownership. As China,
average 1.7 percent a year
Other
Power
Industry
India and other fast-developthrough 2030. Growth in
Generation
ing nations move up the ecodeveloping countries will be
Chemicals
nomic ladder, the number of
more than 3 percent a
cars and trucks in these counyear, five times faster than
Heavy
Manufacturing
tries will climb dramatically.
in developed countries.
How dramatically?
As demand for transportaTransportation
Consider this: In the United
tion grows, energy efficiency
States, there are about 78
will become increasingly
light-duty vehicles (cars,
important. Ongoing technolSUVs and pickup trucks) for
ogy gains in conventional
Total estimated 324 million barrels
per day of oil equivalent
every 100 people. In China,
vehicles, plus a growing
there is just one such vehicle
share of advanced vehicles
for every 100 people. As
such as hybrids, will produce
China’s economy expands, so will its fleet – by 2030, substantial gains in the fuel economy of new vehicles.
the number of light-duty vehicles in China is likely to
Even so, ExxonMobil expects global demand for
exceed 100 million.
oil and other liquid fuels to be more than 35 percent
Rising demand for personal vehicles is one reahigher in 2030 than it was in 2005, mostly because
son why transportation will be the fastest-growing
of transportation growth.
energy-demand sector to 2030.
Meeting this demand won’t be easy. We’ll need to
Another reason: Expanding world economies will
invest billions of dollars, gain access to new energy
push up demand for commercial transportation – the supplies, and continue to advance technology and
trucks, planes, ships and trains that support busifree trade. We’ll also need to use energy as efficiently
nesses, move goods, provide services and create
as possible. By taking these actions to ensure safe,
jobs. In fact, globally, people use more energy for
reliable and affordable energy for transportation, we’ll
commercial transportation than for personal vehicles.
keep the world’s economy moving forward.
ExxonMobil’s The Outlook for Energy – A View to
To download a copy of Energy Outlook to 2030,
2030, now available on our Web site, projects that
go to www.exxonmobil.com/energyoutlook.
27
Panorama
Around the world with ExxonMobil
ExxonMobil’s advanced
scrubbing technology
selected by Valero Energy
With an expected initial production of 10,000 barrels a day, the
liquid condensate produced at Point Thomson in Alaska is planned
to be delivered for sale through new and existing pipelines.
ExxonMobil announces plan for more Alaska production
ExxonMobil Production Company, as operator and on behalf of the other unit working
interest owners, has announced a new project to develop and produce hydrocarbon
resources from the Point Thomson field on the Alaska North Slope.
The plan, which has been submitted to the Alaska Department of Natural Resources,
involves evaluation, delineation and development of Point Thomson reservoirs through
a phased approach to fully develop the resource for the mutual benefit of Alaskans and
the unit working interest owners. Production is anticipated to start by year-end 2014.
The project includes an investment of approximately $1.3 billion to commence a
multiyear development and delineation drilling program in the 2008-09 winter season
and to construct production facilities, pipelines and support infrastructure.
Under the initial phase, approximately 200 million cubic feet a day of Point Thomson
gas is expected to be produced. About 10,000 barrels a day of liquid condensate that
is separated from the gas is planned to be delivered for sale through new and existing
oil pipelines. The remaining gas will be injected back into the Thomson Sand reservoir to
maintain pressure for continued hydrocarbon recovery and for subsequent gas sales.
ExxonMobil Research and Engineering
Company (EMRE) and Hamon Research
Cottrell (HRC) announced that Valero
Energy has selected ExxonMobil’s Wet
Gas Scrubbing Plus (WGS+) technology
for its Memphis, Tennessee, and Delaware
City, Delaware, refineries. Project planning
for both locations is under way.
At the Memphis refinery, the technology
was selected as part of an overall emissions reduction project on the 60,000barrel-per-day Fluid Catalytic Cracking Unit
(FCCU). Hamon Research Cottrell is engineering and supplying an expanded Wet
Gas Scrubber (WGS), which significantly
reduces sulfur and particulate emissions.
As part of this project, HRC is also supplying EMRE WGS+ technology to significantly reduce NOx emissions.
At the Delaware City Refinery, the
WGS+ technology is being engineered
and supplied for a 60,000-barrel-per-day
FCCU that has an existing scrubber used
for the removal of sulfur and particulate
matter. Here, WGS+ technology will significantly reduce NOx emissions as well.
EMRE team wins Thomas A. Edison
Patent Award for sixth year
For the sixth year in a row, the
Research & Development Council of
New Jersey (RDNJ) has awarded the
Thomas Alva Edison Patent Award in
Industrial Processing to an ExxonMobil
Research and Engineering (EMRE)
team. The award was given to the
team for developing a patented technology that allows aromatics plants
to reduce environmental impact and
improve safety and reliability, while
more than doubling the amount of
feed processed at a nominal investment cost. This is the first time RDNJ
has awarded this honor to a company
for six consecutive years.
Thomas Alva Edison Patent Award recipients
are (from left) Arthur P. Werner, Steven H.
Brown and Terry E. Helton of ExxonMobil
Research and Engineering. The company
has won the honor for six consecutive years.
28
The Lamp is published for ExxonMobil
shareholders. Others may receive it on request.
It is produced by the Public Affairs Department,
Exxon Mobil Corporation.
ExxonMobil and Corvette mark 15-year collaboration
In recognition of its long-standing relationship with
one of the world’s most storied high-performance
automobiles, ExxonMobil is proud to announce
the 15th anniversary of the relationship between
the company’s flagship Mobil 1 synthetic engine
oil and Corvette.
Since 1992, Mobil 1 oil has been the factory
and service-fill lubricant for all Corvettes manufactured by General Motors. More than 490,000
Corvette vehicles have left the production line
filled with Mobil 1 engine oil during that period. In
addition, the relationship with Mobil 1 has helped
Corvette drive to the winner’s circle on the international race circuit again and again. Since 1998,
GM Corvette Racing has won the top GT class
in the grueling 24-hour Le Mans five times and
recorded 51 race victories and six manufacturers’
championship victories in the American Le Mans
Series, using the LS7.R Corvette engine filled with
Mobil 1. In 2006, an LS7.R engine filled with Mobil 1
motor oil was also named the Global Motorsport
Engine of the Year at the inaugural Professional
Motorsport World Expo in Cologne, Germany.
“We are grateful to have worked with Corvette
for so many years and are looking forward to
continuing our combined efforts in the future,”
says ExxonMobil’s David Tsurusaki, strategic
global alliance manager.
Briefly
An Exxon Mobil Corporation subsidiary,
ExxonMobil Exploration and Production Ireland
(Offshore) Limited, along with Providence
Resources P.l.c. (Providence) and Sosina
Exploration Limited (Sosina), has been awarded
two additional licenses in the Porcupine
Basin of the Irish Sea. The Irish government’s
Department of Communications, Marine and
Natural Resources announced the results of
their 2007 Irish Frontier Licensing Round earlier
this year.
The licenses are located in water depths
exceeding 6,500 feet (2000 meters), and
together comprise 13 blocks and an area totaling 760,000 acres. A number of potential leads
have been identified across the two licenses,
including a prospect known as Drombeg.
The new awards bring ExxonMobil’s
Porcupine Basin interests to 18 exploration
blocks plus an option for an additional 15
blocks, giving the company and its co-venturers an expanded exploration position in the
basin. ExxonMobil has been awarded operatorship of the two new license areas and will apply
its global leadership geoscience and deepwater
drilling capability to these Irish operations.
29
Chairman and CEO Rex Tillerson has
announced plans to invest more than $125
billion in capital spending over the next five
years to deliver major projects to help meet
growing world energy demand.
“We will invest record amounts to develop
new technology, bring on new upstream projects, increase our base refining capacity and
grow our chemical business,” he told analysts
at the New York Stock Exchange. “With our
technology advantage and an industry-leading
portfolio of 119 projects that are expected to
support development of more than 24 billion
oil-equivalent barrels of energy, ExxonMobil
will continue to be an industry leader in bringing new supplies to the market.”
From 2008 to 2010 alone, Tillerson said, the
company expects to participate in the startup
of 19 new projects which, at peak, would collectively add more than 725,000 oil-equivalent
barrels per day to ExxonMobil’s production.
Exxon Mobil Corporation has numerous
affiliates, many with names that include
ExxonMobil, Exxon, Esso and Mobil. For
convenience and simplicity in this publication,
those terms and the terms corporation,
company, our, we and its are sometimes used
as abbreviated references to specific affiliates
or affiliate groups. Similarly, ExxonMobil has
business relationships with thousands of
customers, suppliers, governments and others.
For convenience and simplicity, words like
venture, joint venture, partnership, co-venturer
and partner are used to indicate business
relationships involving common activities and
interests, and those words may or may not
indicate precise legal relationships.
Trademark ownership: The terms Mobil 1, Mobil
1 Advanced Fuel Economy, SuperSyn, On the
Run, Taking on the world’s toughest energy
challenges are trademarks, service marks or
certification marks of Exxon Mobil Corporation or
its affiliates. The following terms are trademarks
or service marks of the entities indicated: Fortune
500 (Time Inc.); Maya-300 (Electrovaya); Porsche
(Porsche AG); Dodge (Chrysler LLC); Mercedes
(Daimler AG); Corvette (General Motors Corp.);
NASCAR (National Association for Stock Car
Auto Racing Inc.); Sprint Cup (Mark Anthony de
Mattei); Penske Racing (Penske System Inc.);
ALMS American Le Mans (Automobile Club
de I’ouest, A.C.O.); McLaren (McLaren Racing
Limited); Formula 1 (Formula One Licensing
B.V.); Indianapolis 500, IndyCar Series (Brickyard
Trademarks Inc.); Daytona 500 (International
Speedway Inc.); Advanced Placement Program
and AP (College Board, which did not review
and does not endorse this product); A+ College
Ready (A+ Alabama Inc.).
Forward-Looking Statements: Outlooks,
projections, estimates, targets and business
plans in this publication are forward-looking
statements. Actual future results, including
demand growth and supply mix; ExxonMobil’s
own production growth and mix; resource
recoveries; project plans, timing, costs and
capacities; capital expenditures; revenue
enhancements and cost efficiencies; margins;
and the impact of technology could differ
materially due to a number of factors. These
include changes in long-term oil or gas prices
or other market conditions affecting the oil,
gas and petrochemical industries; reservoir
performance; timely completion of development
projects; war and other political or security
disturbances; changes in law or government
regulation; the outcome of commercial
negotiations; the actions of competitors;
unexpected technological developments;
the occurrence and duration of economic
recessions; unforeseen technical difficulties;
and other factors discussed here and under
the heading “Factors Affecting Future Results”
in item 1 of our most recent Form 10-K and on
our Web site at exxonmobil.com.
Frequently Used Terms: References to
resources, the resource base, recoverable
resources, barrels and similar terms include
quantities of oil and gas that are not yet
classified as proved reserves, but that we
believe will likely be moved into the proved
reserves category and produced in the future.
Discussions of reserves in this publication
generally exclude the effects of year-end price/
cost revisions and include reserves attributable
to equity companies and our Syncrude
operations. For definitions of, and information
regarding, reserves, return on average capital
employed, normalized earnings and other terms
that may be used in this publication, including
information required by SEC Regulation G,
see the “Frequently Used Terms” posted on
our Web site. The most recent Financial and
Operating Review on our Web site also shows
ExxonMobil’s net interest in specific projects.
ExxonMobil quarterly financial summary
Fourth Quarter
2007
2006
Millions of dollars, except per-share amounts
Exxon Mobil Corporation
posts record 2007 results
ExxonMobil’s full-year 2007 net
income and earnings excluding special items were a record $40,610
million ($7.28 per share), reflecting
strong results in all business segments. ExxonMobil’s fourth-quarter
earnings excluding special items were
a record $11,660 million, up 18 percent from the fourth quarter of 2006.
Upstream earnings were $8,204
million, up $1,984 million from the
fourth quarter of 2006, primarily
reflecting higher crude oil realizations
and higher gains on asset sales partly
offset by tax items and lower liquid
volumes. On an oil-equivalent basis,
production increased nearly 1 percent
from the fourth quarter of 2006.
Downstream earnings of $2,267
million were $307 million higher than
the fourth quarter of 2006. Fourthquarter 2007 earnings reflected
gains on asset sales, a LIFO inventory gain and improved refinery
operations partly offset by lower
U.S. refining margins.
Chemical earnings of $1,112 million were $130 million lower than the
fourth quarter of 2006, mainly due
to lower margins and lower LIFO
inventory effects partly offset by
higher sales volumes.
During the fourth quarter of 2007,
Exxon Mobil Corporation purchased
88 million shares of its common
stock for the treasury at a gross
cost of $7.9 billion. These purchases
included $7 billion to reduce the
number of shares outstanding, with
the balance used to offset shares
issued in conjunction with the company’s benefit plans and programs.
Shares outstanding were reduced
from 5,464 million at the end of the
third quarter to 5,382 million at the
end of the fourth quarter.
Twelve Months
2007
2006
Functional earnings
Upstream
Downstream
Chemical
Corporate and financing
Net income (U.S. GAAP)
$
8,204
2,267
1,112
77
$ 11,660
$ 6,220
1,960
1,242
828
$ 10,250
$ 26,497
9,573
4,563
(23)
$ 40,610
$ 26,230
8,454
4,382
434
$ 39,500
Net income per common share
– assuming dilution
$
2.13
$
1.76
$
7.28
$
6.62
Special items
$
0
$
410
$
0
$
410
Earnings excluding special items
$ 11,660
$ 9,840
$ 40,610
$ 39,090
Total revenues and other income
Income and other taxes
Capital and exploration expenditures
$ 116,642
$ 28,791
$ 6,151
$ 90,028
$ 22,873
$ 5,069
$404,552
$105,683
$ 20,853
$377,635
$100,676
$ 19,855
Dividends on common stock
Dividends per common share
$
$
$ 1,853
$ 0.32
$
$
$
$
Other financial data
1,903
0.35
7,621
1.37
7,628
1.28
Thousands of barrels daily, except for natural gas and chemical
Operating data
Net production of crude oil and
natural gas liquids
2,517
2,678
2,616
2,681
10,414
9,301
9,384
9,334
Oil-equivalent production
(6 million cubic feet = 1 thousand barrels)
4,253
4,228
4,180
4,237
Refinery throughput
5,717
5,698
5,571
5,603
Petroleum product sales*
7,125
7,447
7,099
7,247
Chemical prime product sales
(thousands of metric tons)
7,049
6,827
27,480
27,350
Natural gas production available
for sale (millions of cubic feet daily)
*Petroleum product sales data are reported net of purchases/sales contracts with the same counterparty.
30
women can.
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Join us as we celebrate International Women’s Day,
and salute women around the world who are truly
making a difference.
exxonmobil.com
© 2008 by Exxon Mobil Corporation
Printed on recycled paper
Shareholders may elect to discontinue receiving
The Lamp or change their shareholder account
address by contacting ExxonMobil Shareholder
Services at 1-800-252-1800.
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