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Chairman and chief Executive of Exxon Mobil, told analysts at New York Stock Exchange that Exxon Mobil’s financial strength, technological expertise, and superior resource base allow it to meet the challenges of today’s increasing demand for energy, while delivering industry-leading returns.
“The world’s
energy needs are expected to be nearly 50per cent greater by 2030 than they are today,”
“Our industry remains massive and very much a long-term, capital-intensive business, Project require
years to develop, cost billion of dollars to bring on stream, and they operate for decades.
The project inventory at year-end 2005 will develop 26billion oil-equivalent barrels net to Exxon Mobil. The company expects to start up more than 20 new global projects in the next three years to produce even more energy to fuel vehicles, light and heat homes, and power
business around the world.
He pointed out that in 2005 Exxon Mobil invested a record of nearly $28 billion into the business, he added, “Our
investment strategy has remained consistence over the years. It is not
driven by short-term swing in commodity prices or earnings. WE are long-term driven and patient, and we are not opportunity constrained.
“Standing back from the annual spending pattern confirms the consistency of our approach as we have earned over the last 15 years. ‘The growing trend in capital expenditures is a direct result of the rich portfolio of investment opportunities in our inventory, our ability to mature many world-class opportunities to our investment standards and to successfully progress the execution of these Write your abstract here.
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