ExxonMobil back to basics
The world's biggest oil firm is relying on science, technology and, increasingly, its domestic base to insulate it from weaker oil prices
If ExxonMobil had a formula for weathering the industry's most turbulent era in a generation, it might go something like this: science plus size equals success. Stubbornly low crude prices have spurred the company's new chairman and chief executive, Darren Woods, to use science and technology to increase margins. Woods, an electrical engineer by training, insists that Exxon is as much a scientific business as it is an oil and gas one. He's accelerating the application of seemingly esoteric research into the field, especially upstream. At the same time, the company is using its unparalleled global footprint and integrated well to petrol pump business model to get the most out of its vast indu
Also in this section
10 December 2024
Sector at economic and strategic crossroads, but clear path ahead for midstream additions
30 November 2024
Decades of turmoil have left Iraq’s vast energy potential underutilised, but renewed investment and strategic reforms are transforming it into a key player in the region
29 November 2024
The country's fifth and sixth oil and gas bid rounds have attracted a range of new players with gas as well as oil ambitions—and there’s a seismic shift in the contracting process
28 November 2024
Iraq is charting a new path for its indigenous resources and its youth, hoping to electrify the future with a mix of reforms and modernisation to fuel growth