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
3 May 2024
Upcoming elections are likely to deliver a win for the party of president Andres Lopez Obrador, but analysts differ over to what degree his successor will stick to his energy policies
2 May 2024
Faster-than-expected economic growth fails to mask macro imbalances and shifting structural oil product trends
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind