Related Articles
Company profile
Forward article link
Share PDF with colleagues

ExxonMobil - the oil world's champion

ExxonMobil hasn't exactly sailed through the downturn. But it remains convinced by oil's long future and undeterred by commodity cycles

If a test of management is the ability to ride tough times, ExxonMobil is in the exam hall. The world's biggest publicly traded oil and gas company is caught in an upstream bind as it invests heavily in unconventional fuels, in some cases at hefty prices, while struggling with the production of the crude that its own research predicts will provide most of the world's energy for another 20 years. Exxon's sanctions-hit Kara Sea exploration in partnership with Rosneft is a case in point. Its model remains positively old-fashioned. Collaboration is the buzzword in the industry these days, but Exxon is sticking to vertical integration: downstream profits, it thinks, are the natural hedge agains

Also in this section
Saudi Arabia pushes ahead with IPO
22 March 2017
The state firm is making the right noises about its privatisation, but the clock is ticking and market fundamentals could still shift
An M&A lifeline in the North Sea
15 March 2017
Assets that cut tax bills could be a blessing for UKCS operators looking for a bargain
Depth, breadth and data
15 March 2017
Fresh from the merger with Baker Hughes, GE Oil & Gas boss tells Petroleum Economist about his firm's plans for digital analysis, cost-cutting and recovery