Integration Fundamental to Superior Returns, Executive Tells CERAWeek
ExxonMobil Chemical president says disciplined long-term approach critical
HOUSTON--(BUSINESS WIRE)-- Integration of refining and petrochemicals and a disciplined, long-term approach are fundamental to generating superior returns, ExxonMobil Chemical President Steve Pryor said in a speech at the CERAWeek conference today.
"This constancy of purpose has enabled our downstream and chemical businesses to achieve a combined average return on capital employed of 20 percent since 2000," Pryor said.
Pryor said that effective integration is achieved through site-wide optimization of feedstocks, products, costs, capital and people, enabling all product lines to benefit from the same lower costs. "A steadfast commitment to technology is critical to capturing these integration benefits," he said.
"We focus on technologies that reduce energy use, emissions and costs in our facilities and deliver products that enable consumers to do the same," Pryor said. He noted that 90 percent of ExxonMobil's operated petrochemical capacity is integrated with refining or upstream gas processing.
Pryor also said that unconventional natural gas presents an opportunity for petrochemical and energy producers in North America and potentially other regions of the world. "For petrochemicals, the dimensions of this global opportunity will be shaped over decades to come."
About ExxonMobil Chemical
ExxonMobil Chemical is one of the world's premier petrochemical companies with manufacturing, technology, and marketing operations around the world. The company delivers a broad portfolio of products and solutions efficiently and responsibly, with a commitment to create outstanding customer and shareholder value. ExxonMobil Chemical endorses the principles of sustainable development, including the need to balance economic growth, social development and environmental considerations.
To learn more, visit www.exxonmobilchemical.com.
Note to the Editors:
-- ExxonMobil, the ExxonMobil logo, the "Interlocking X," Vistamaxx, Exxtral, Enable and Santoprene are trademarks or registered trademarks of Exxon Mobil Corporation (NYSE:XOM). -- The term "ExxonMobil Chemical" refers collectively to some or all of the companies affiliated with Exxon Mobil Corporation which have chemical manufacturing operations around the world.
Source: Exxon Mobil Corporation
Released March 8, 2011