Number 4 - ExxonMobil in the UK

An ExxonMobil publication
Aboriginals
have a good neighbor
at Cold Lake
Energizing the American economy
Global growth for diesel
spurs refinery expansions
PLUS
The right rocks
Building better cars
LNG update
40 years of safety
OFC
2008 – Number 4

Viewpoint
1
Energizing the American economy
Investments in future energy supplies
remain as important as ever.
Volatile stock prices, tighter credit and the slowdown
in economic activity are causing deep
concerns, and leading some Americans to question
our nation’s economic direction. What can
be done to restore our economy to full health?
Access to reliable and affordable supplies of
energy is a part of the cure. Energy helps drive
the U.S. economy by powering businesses,
moving people and goods, and creating jobs.
It is essential for growth. In today’s challenging
times, energy companies play an important role
in helping our economy move forward.
At ExxonMobil, we’re doing just that. Our
business model is based on rigorous and
realistic long-term planning, enabling us to
navigate the ups and downs of the business
cycle. Because of our disciplined investment
and financial strength, we have helped fuel the
American economy for over 125 years – during
good times and bad.
From 1983 through 2007 – a period which
saw oil prices dip to less than $10 per barrel
at one point – we invested over $355 billion
worldwide. That was more than we earned
during that time. And from 2003 through 2007
alone, we invested nearly $89 billion, including
nearly $25 billion in North America.
Despite recent economic developments,
we expect to spend more than $125 billion
over the next five years on major energy projects
to meet the growing economic needs of
Americans and people around the world.
From unlocking the natural gas potential in
Colorado’s Piceance Basin, to producing oil
safely and in an environmentally responsible
way in the Gulf of Mexico, to developing the
world’s largest liquefied natural gas project
to help meet growing needs, including in
the United States, ExxonMobil is investing
in America’s economic future.
At the same time, our tax payments to
federal and state governments are huge.
ExxonMobil’s total U.S. tax expenses from
2003 through 2007 were nearly $65 billion,
exceeding our U.S.-based earnings during
that period by almost $19 billion.
America’s need for energy has not stopped.
The energy industry is committed to meet this
need through sustained investments in new
energy supplies. Government can help by
increasing access to domestic resources and
establishing consistent and impartial rules for
all energy investments. Together, we can help
secure America’s economic future.

Rex W. Tillerson
Chairman and CEO
Mark W. Albers
Senior Vice President
Michael J. Dolan
Senior Vice President
Donald D. Humphreys
Senior Vice President
Kenneth P. Cohen
Vice President-Public Affairs
David S. Rosenthal
Vice President-Investor Relations and Secretary
Bob Davis
Editor
Patrick Gabriel
GCG
Art Director
Len Shelton
Photography Coordinator
Cynthia Solomon
Production Coordinator
Frances Bruscino
Distribution Coordinator
Please address all Lamp correspondence,
including requests to reproduce any portion
of the magazine, to the editor at Exxon Mobil
Corporation, 5959 Las Colinas Blvd., Irving,
TX 75039-2298.
In this issue
1
Viewpoint
Energizing the American economy
3
Aboriginals have a good
neighbor at Cold Lake
Programs offer training, employment
and business development
6
Old rocks in new places
How ExxonMobil searches for new
energy supplies in the farthest reaches
of the globe
19 23 15
Upfront
The national and state elections
are over, and this issue of The
Lamp addresses a number of
important considerations that
we believe will help foster a
constructive dialogue on U.S.
energy supplies as well as tax,
fiscal and energy policies to
promote needed long-term
economic growth.
Development of alternative
energy sources, improved
efficiencies and access to
promising onshore and offshore
exploration areas will be a critical
part of an economic turnaround.
Beginning on page 6,
Exploration Company President
Tim Cejka talks about the need
to increase domestic drilling,
and how ExxonMobil is working
9
Major diesel-fuel expansion at
U.S. and European refineries
Production to grow by 6 million gallons
a day to meet rising demand
11
Shaping a sound
U.S. energy policy
An interview with Ken Cohen, Vice
President-Public Affairs
15
An update on LNG
Technology expands plant, terminal
and LNG carrier capacities
A good neighbor
Imperial Oil maintains positive
relations with Aboriginals
surrounding its Cold Lake,
Canada, operation.
Cover photo by Mike Morrow
to secure more quality exploration
opportunities in the United
States and around the world.
On page 11, an interview with
Public Affairs Vice President
Ken Cohen outlines why America
needs more energy options,
and why it’s important that our
government, industry and the
Amercian people work together
to develop effective energy policies.
The investment will be huge,
but the result can be a secure
and environmentally responsible
energy future for America.
Even with the global economic
downturn, demand for diesel fuel
remains strong around the world,
where it’s relied upon to run
everything from tractor-trailers
to off-road equipment – even
17
ExxonMobil Chemical boosts
role in auto industry
Chemical products are making
vehicles lighter, safer and more
fuel-efficient
19
A family affair
The Talco field in East Texas achieves
a 40-year safety record
21
Mickelson ExxonMobil Academy
Teaching excitement about
math and science
electrical power generators in
developing countries. Read
how ExxonMobil is boosting
diesel-production capacity in
the United States and Europe to
keep pace with the rising trend
(page 9).
And a story on page 17
describes how ExxonMobil
Chemical products are helping
to make lighter, safer and more
energy-efficient vehicles.
We hope you enjoy this issue
of The Lamp.
Bob Davis
Editor
23
Mobil 1 oils big hit in Russia
Fast-growing market
embraces brand
26
Panorama
Business highlights
from around the world
30
ExxonMobil quarterly
financial summary
2
3

3 Story by Amanda Coyne
Vinnie Saddleback is an
accomplished “fancy” dancer
and Imperial Oil employee at
the company’s Bonnie Glen
Gas Plant in central Alberta.
He consulted with advisors at
Cold Lake on expanding the
successful Native Network to
other operations in the province.

Photo by Mike Morrow
Aboriginals
have a good neighbor
at Cold Lake
Imperial Oil works closely with Aboriginal communities near its historic
heavy-oil operation in Alberta. Imperial’s long-term outreach initiatives
result in economic benefit through training and employment programs,
and focused strategies on business development.
Few energy developments are as
technologically and fiscally daunting
as the Cold Lake heavy-oil
operation in northeastern Alberta.
The Cold Lake oil-sand deposit
contains billions of barrels of oil
in the form of tar-like bitumen. To
produce it, Imperial Oil Resources
operates the world’s largest thermal
in situ oil-recovery program,
in which the bitumen is heated
to the thickness of molasses and
pumped to the surface.
For more than 40 years,
Imperial, a majority-owned
ExxonMobil affiliate, has advanced
the development through disciplined
management and significant
investments in research and development.
However, another key to
success has been Imperial’s efforts
to earn and maintain positive relationships
with the 11 Aboriginal
communities surrounding the Cold
Lake operation.
“If we are to achieve our business
objectives, we must develop
and maintain healthy, respectful
relationships with our Aboriginal
neighbors,” says Randy Broiles,
senior vice president of Imperial
Oil Resources.
Sandy Martin, Cold Lake
operations manager, adds that
Imperial has an advantage in
Sandy Martin, Cold Lake operations manager, says that since 1998 Aboriginal
employment has grown to 10 percent of the total Cold Lake workforce.
community relations, partly
because it has operated in the
area for such a long time.
“We know who our neighbors
are,” he says. “We consult and
work extensively with the First
Nation and Métis communities
to listen to their ideas and
concerns, and establish employment,
training and business
development programs that create
mutual benefits for Imperial
and our Aboriginal neighbors.”
Breaking down barriers
In the 1990s, Fred Cardinal, a
Cold Lake production operator,
and other Aboriginal employees
formed a group to discuss ways
Imperial could improve relations
with Aboriginal communities and
break down employment barriers.
Out of those meetings came
an official name for the group –
the Imperial Native Network – as
well as a number of suggestions
that today are continuing to have
a positive impact on the company’s
community relations.
Imperial provides scholarships,
supports community projects
and Aboriginal-owned contracting
companies, and consults
regularly with Aboriginal elders
and community leaders.
Martin and other managers
also attend an annual gathering
on Aboriginal lands, where they
4

Vinnie Saddleback displays
an ornate ceremonial garment
that combines traditional and
contemporary touches.
participate in traditional games,
eat traditional foods and gain an
appreciation for the culture.
“Participating in these events
is helpful in that we experience,
firsthand, Aboriginal tradition and
an appreciation for the land from
a First Nation perspective,” says
Martin. “Another plus: The food
is delicious.”
One highly successful initiative
has been Imperial’s Native
Internship Program, which was
recently honored by the Alberta
Chamber of Resources and the
Alberta Ministry of International,
Intergovernmental and Aboriginal
Relations. The program provides
24 months of paid on-the-job
training for Aboriginal people.
Graduates gain valuable technical
experience working in field or
plant operations.
“Imperial’s Native Internship
Program breaks down barriers by
eliminating common challenges
experienced by Aboriginal peoples
who want to pursue technical
careers in the oil and gas
industry,” says Rick Janvier, former
human resources manager
for Cold Lake First Nation and
a partner in the internship program.
Janvier is now the human
5
Photo by Mike Morrow
Imperial Oil’s Dennis Collins (left) and Fred Cardinal help Aboriginal
interns and new hires get oriented to a corporate culture.
resources manager for Seven
Lakes, an Aboriginal-owned business
that is a prime contractor for
Imperial’s Cold Lake operations.
Since the internship program’s
introduction in 1998, 31
students have participated in
the program. Imperial has hired
all of the graduates from this
program, increasing Aboriginal
employment from 2.6 percent to
10 percent of its total workforce.
Martin says that the program
is a win-win for Imperial.
“Not only do the workers benefit,”
Martin says, “but Imperial
also benefits by gaining highly
skilled employees to meet the
demand in our operations.”
Experience as an example
Making the transition from
some of the more isolated First
Nation and Métis communities
to working at a large oil industry
operation can be intimidating.
Nobody understands this better
than those who have
experienced it.
That recognition
led to establishment of mentorship
support for graduates of the
Native Internship Program and
To learn more
exxonmobil.com/
coldlake
other newly hired Aboriginal workers
in Cold Lake. Imperial provides
mentorship support for its
other operations across Canada
as well.
Cardinal and Dennis Collins,
a Cold Lake operations maintenance
planner originally from the
Elizabeth Métis settlement near
Cold Lake, are native liaisons
for the company and mentors
to new Aboriginal interns and
hires. Collins notes the adjustment
period can be hard on
newcomers.
“They want to give back
to society. But if you take an
Aboriginal person out of his or
her lifestyle and culture and put
that person in a corporate culture
without some guidance, that indi-
vidual could fail. Assistance
and mentoring can help.”
“We show them the
ropes and give them a shoulder
to lean on,” adds Cardinal. “We
help them get through those
rocky times. I really think it helps
retain good employees – people
who want to work and want to
give back to the company and
to their communities. And it’s so
exciting to see them succeed
and become role models in their
communities.”
Cardinal and Collins also
spend time in schools in the
First Nation and Métis settlements,
educating students
about opportunities at Imperial
and elsewhere.
“My key message to the
youth is that good things will
happen if you set your goals and
put them into action,” Cardinal
says. “I use myself and my job
at Imperial as an example.”
the Lamp
Photo by Catherine Teasdale

Old rocks
in new places
Harnessing science and human
brain power, ExxonMobil takes the
search for new energy supplies to
the farthest reaches of the globe.
Exploration President Tim Cejka
tells how it’s done.
How do you identify new
exploration opportunities?
It starts with understanding the
geology – the “rocks” that hold
hydrocarbons. We’re continuously
evaluating the geology of
basins around the world to determine
where the best areas are
so we can be ready when host
governments make them available
for lease.
We manage new opportunities
with our prospect inventory.
Imagine this as a funnel into
which we pour all of our new
ideas and concepts, perhaps hundreds
in any given year. These are
then sorted and prioritized, and
we pursue and capture the best.
How do you prioritize
those opportunities?
We ask ourselves three questions.
First, is it a quality opportunity?
Advanced technology and smart
people help us determine whether
an area or prospect has potential.
Next, is it a good fit with our
Story by Bill Corporon Photography by Ed Lallo
6

goals, resources and investment
philosophy?
And finally, is there a commercial
deal to be struck? We
don’t want to rule out a prospect
too early by saying it has
limited economic potential. We’d
rather see if it passes the first
two tests, and then look for a
creative way to structure a commercial
arrangement.
How does this process
work when you don’t
have much data?
If we don’t know much about
a particular basin, we look at
basins similar to it – analogues –
in other parts of the world. These
analogues help us determine
whether the basin we’re interested
in may have the potential
for a robust hydrocarbon system.
It’s a matter of understanding
the risk and lowering the
7
uncertainty by acquiring the best
information and by conducting
the most thorough analysis.
It’s important to understand
the difference between risk and
uncertainty. With risk, you’ve
identified a prospect and understand
the potential variables
well enough to make a business
decision. With uncertainty, you
just don’t have the information
to determine whether it’s risky
or not. Therefore, a phased
approach to collecting key data
is very important.
How successful has
ExxonMobil been in
making new exploration
acquisitions? What’s been
the trend?
At the time of the merger, Exxon
and Mobil brought a large number
of opportunities into our
combined portfolio. We had to
Tim Cejka, president of ExxonMobil Exploration Company, says access
to newly opened U.S. exploration areas won’t solve energy supply
issues overnight – but it could be part of a larger solution.
sort them out and do some prioritizing,
and by being selective,
we actually trimmed the list.
As our global understanding
grew, we started to ramp up
acquisitions and the pursuit of
new opportunities. We’re acquiring
about 10 to 15 new assets
a year, and we’ve increased our
acreage holdings since 2005.
The trend is rising, with 2008
anticipated to be another record
year for captures (lease/resource
acquisitions), and we expect a
similar level in 2009.
What role does
technology play in the
exploration business?
It’s an essential tool for doing
our job.
But even with the very best
technological tools, you still
need brain power to create
ideas. We hire the best people,
and then we try to create an
environment in which innovation
and creativity abound.
Could you talk about
the lead times involved
from finding to producing
a prospect?
We routinely deal with long
lead times in this business, and
Angola is a good example. We
acquired the first license, Block
15, in 1994. We’d been doing
regional geology studies for
about two years prior to that.
We had first production in 2003
with the Xikomba field. Since
then, we’ve put additional fields
into production. This was a
good example of working in
a new country, in deep water,
and addressing a range of
logistical, technological and
financial challenges.

Access to domestic resources
Some federal lands and offshore areas in federal waters
have been off limits to the oil and gas industry for more
than 20 years. In 2008, Congress and the president lifted
those bans, although state restrictions still apply. Does
that mean the United States can now achieve energy
self-sufficiency?
No, says Tim Cejka, president of ExxonMobil
Exploration Company, but that’s not the point.
“Drilling in these newly opened areas won’t solve price
and supply issues overnight,” he says. “But opening
them up can be an important part of the larger solution
to meeting the nation’s energy needs.”
Cejka points out that there is no single solution to
meeting the nation’s energy challenges.
“Increased drilling, both domestically and globally,
combined with technology, development of alternative
energy sources and improved energy efficiency, builds
the best path forward,” he says.
What challenges does
Exploration face in high- and
low-price environments?
The Exploration Company has
two overarching objectives. One
is to be safe, ethical and environmentally
sensitive in everything
we do. The second is to add
resources to the corporation’s
inventory that exceed production
in any business environment.
It’s all about constancy of
purpose. As other companies
trim back budgets and activities
due to the economic crisis,
we will execute our exploration
program as planned to add new
resources and actively pursue
new opportunities. In fact, our
plan and budget for the next few
years is the most active since the
merger, with a record number
of operated wells targeting highpotential
opportunities in new
areas around the world.
Does ExxonMobil pursue
specific resource types?
We pursue most types of
resources. We look for conventional
oil and gas as well as
remote gas that will have to be
commercialized such as LNG
[liquefied natural gas]. We’re active
in heavy oil, tight gas, oil shale
and shale gas.
Our goal is to be the best in
each resource type. This diversity
increases the strength of our
portfolio.
Where are the new opportunities
for ExxonMobil?
We’ve been in the Arctic for
some time, and some interesting
new opportunities are starting to
open up. The Canadian Beaufort
Sea is a good example. When
the government’s tender offer
recently came up, we were ready
to move because we had already
decided we wanted to
be in that area. As a
result, we were able to get a very
large, high-potential block in the
Canadian Beaufort Sea.
We’ve been in Greenland for
more than 20 years. Recently,
we looked at some regional
studies we’d done. There was a
potential oil seep onshore western
Greenland, which suggested
the presence of good source
rock. We sampled the oil and
decided the area had potential,
and now we have two blocks in
the western offshore.
In Brazil, we’re drilling an
exploration well into a very large
structure. There have been
some encouraging discoveries in
the area, so we’re hopeful about
the outcome.
The situation in New Zealand
is far more uncertain. A few
noncommercial gas discoveries
have been made in the Great
South Basin, and the assumption
had been that the basin was not
prospective. We included that
basin in a major regional study
and discovered it had areas that
might hold natural gas. We also
saw information on a previous
seismic survey that appeared to
be a direct hydrocarbon indicator.
Subsequently, we leased a very
large block.
In Indonesia, we took our
onshore success at Cepu and
asked ourselves whether that
To learn more
exxonmobil.com/
technology
play could continue offshore.
When we looked,
we saw some very good indications
of hydrocarbon-bearing formations.
We went to tender and
won several leases with plans to
drill in early 2009.
What advantages does
ExxonMobil have over our
competitors in pursuing
exploration opportunities?
First of all, our people – we have
the best in the industry. The
same is true of our technology
and financial strength.
In addition, our global computing
systems and global
reach have given us a significant
advantage. They enable us to
look at the characteristics of a
successful field in one part of
the world and to search for a
field with the same characteristics
in another region.
I like to use the example of
the “five whys.” When someone
puts forward a proposal, the first
question is “Why would you do
that?” That’s usually pretty easy
to answer. And then you ask a
second, deeper “why,” and it’s a
little harder to answer. You ask
the third “why,” then the fourth
and the fifth, and each question
gets tougher. What you find is
that ExxonMobil people have
the courage and confidence to
handle the fifth “why.” the Lamp
8

Major diesel-fuel expansion
helps meet marketplace needs
ExxonMobil is increasing diesel-production capacity in the
United States and Europe by about 6 million gallons a day,
an increase in production equivalent to the diesel produced
from four average-size refineries.
9
For automobiles, light pickup
trucks, mopeds and lawn
mowers, gasoline remains the
predominant fuel in many countries,
especially in the United
States. Yet in Europe, diesel is
becoming the fuel of choice for
automobiles, and worldwide it
is relied upon to run everything
from tractor-trailers, buses
and marine vessels to off-road
equipment such as backhoes,
threshers and locomotives –
even electrical power generators
in many developing countries.
While motor gasoline has
a higher global transportation
demand, diesel fuel leads in projected
demand growth.
ExxonMobil engineers are
busy preparing to keep pace with
this rising trend. In December, the
company announced projects
totaling more than $1 billion to
increase production of diesel fuel
by approximately 6 million gallons
(about 143,000 barrels) a
day at three refineries – Baytown
(Texas), Baton Rouge (Louisiana)
and Antwerp (Belgium). When
completed in 2010, these
major expansions will boost
ExxonMobil’s low-sulfur dieselproduction
capacity by more
than 35 percent at the U.S. sites
Story by Shelley Moore
and by more than 100 percent at
the European site.
This is equivalent to the diesel
production from four averagesize
refineries.
“People sometimes ask why
we aren’t building new refineries
to produce more fuel,” says
Brian Lawless, manager of global
project development, ExxonMobil
Refining & Supply. “Why build new
refineries when we can more efficiently
and more quickly expand
the ones we already have? Looking
at it another way, if you have a
growing family and need a bigger
house, does it make more sense
to keep the house and build
another, or add on to the one you
now have?”
Global growth for diesel
According to the International
Energy Agency (IEA), the market
for diesel fuel is growing about 3
percent a year in developed countries.
Growth in developing countries
is expected to be even higher.
“Diesel demand grows with
GDP [gross domestic product]
and the demand for more goods
and services,” says Steve Hart,
vice president, planning and
projects, ExxonMobil Refining &
Supply. “Diesel meets close to
90 percent of the commercial
trucking needs in the United
States and Europe.”
In Europe, the increased penetration
of diesel engines in lightduty
vehicles is putting pressure
on diesel production. According
to the European Automobile
Manufacturers’ Association, one
of every two new passenger
cars is a diesel. This ratio may
increase in the future.
“In fact, Europe’s demand for
all diesel fuels for all uses is more
than double the demand for gasoline,”
says Baudouin Kelecom,
fuels executive for Europe, Africa
and the Middle East. “This high
demand creates a significant
fuel-supply challenge; accordingly
imports are an important part of
Europe’s diesel supply today.”
Full use of existing facilities
Implementation of ExxonMobil’s
latest diesel-capacity expansions
began this fall at the company’s
two largest refineries in the
United States – Baytown and
Baton Rouge. Construction of
new diesel facilities is also beginning
at the Antwerp Refinery in
Belgium, the company’s second
largest in Europe. Chosen for
its size, central location and
Bill Heikkila (left) is the
project executive for the
diesel-fuel expansion
project at ExxonMobil’s
Baton Rouge Refinery,
and Mike Vavra is in
charge of constructing
a similar facility at the
company’s refinery in
Baytown, Texas.

optimal supply logistics,
Antwerp will be in position
to increase supplies
to markets across Europe.
To raise production of highway
diesel in 2006, ExxonMobil
installed new facilities and
debottlenecked operations at
four U.S. refineries, including
Baytown and Baton Rouge.
However, the current projects to
produce nonroad diesel are a far
larger undertaking.
“Previously, we were able to
create enough capacity to make
diesel just by making modifications
to existing facilities at our
refineries,” says John Medley,
fuels issues advisor. “ExxonMobil
is now responding by building
completely new units at its refineries
in Baytown, Baton Rouge
and Antwerp to make low-sulfur
diesel using state-of-the-art
technology.”
To learn more
exxonmobil.com/
energyoutlook
“Existing refineries
already have the utilities
and support facilities
in place, operated and maintained
by skilled and well-qualified
personnel,” says Lawless.
“Expanding a refinery already in
operation requires a fraction of
the cost of building a new facility,
and taking advantage of existing
refinery infrastructure is clearly
the most efficient way to add that
capacity.”
When the latest diesel expansions
begin production in 2010,
ExxonMobil will supply markets
that will already be hungrier for
diesel than they are today.
“And we’ll continue to look for
additional opportunities to grow
the diesel business,” says Hart,
“and meet future needs of the
marketplace.” the Lamp
The Antwerp Refinery (above) will house the third expanded
diesel-production facility, providing a central location to supply
needed diesel fuel to markets across Europe.
Photo by Ed Lallo
Photo by Keith Wood
10

11
Shaping a sound
U.S. energy policy
Interview by Bob Davis Photography by Robert Seale
An interview with Ken Cohen,
Vice President-Public Affairs
Working together, Americans
can achieve a secure,
affordable, environmentally
responsible energy future.
Q: With the changes in
Washington, what attention do
you believe will or should be given
to U.S. energy issues, and what
role do you see ExxonMobil playing
in addressing these critical
matters, now and in the future?
A: The level of discussion about
energy policy during the recent
election campaign shows how
important these issues are to
our elected representatives and
to all Americans. There is a wide
diversity of opinion on how to
move ahead on this important
subject, and we anticipate and
look forward to many active discussions
with those who have
an interest in this area.
Our incoming administration,
Congress and all Americans
face important challenges, and
many of these relate to energy.
While we have seen a significant
drop in fuel prices, which
has brought welcome relief to
family budgets, a critical policy
challenge remains: How do we
ensure reliable and affordable
energy supplies to power our
economy and safeguard our
energy security while preserving
the environment?
Our government, the energy
industry and all Americans

must work together to develop
a sound energy policy not just
for the next four years, but for
the next 40 years, and beyond.
We will need massive, long-term
investments – in energy production,
technology, infrastructure
and in the education of the next
generation of scientists and
engineers. We need to develop
solutions that allow us to draw
upon all the resources and capabilities
our nation can marshal.
ExxonMobil is ready, willing and
able to do its part.
If we do this right – if we
come up with integrated
approaches involving all economic
energy sources such as
more oil and natural gas, as
well as nuclear energy, renewable
fuels and other alternatives
– we can strengthen U.S.
energy security, create new jobs,
re-energize the economy and
contribute significant revenues
to state and federal budgets.
ExxonMobil is confident that
Americans, working together,
can achieve a secure, affordable
and environmentally responsible
energy future for our nation.
Q: We have experienced tremendous
volatility in crude oil
markets this past year, with
prices reaching a high of more
than $140 a barrel, along with
the average cost of regular
gasoline exceeding $4 a gallon.
Do you think this caused a
material change in the American
public’s view of the need for a
more coherent, long-term energy
policy in this country?
A: We’re experiencing significant
volatility not just in commodity
markets, but in the financial,
credit, manufacturing, housing,
retail and other sectors as well.
In many respects, this underscores
the cyclical nature of the
business environment in which
ExxonMobil operates, but it also
reinforces the importance of
developing sound and predictable
tax, fiscal and energy policies
that take a long-term view
and that aren’t simply reactions
to fluctuating oil and gas prices.
But, yes, I think recent events
have raised the awareness of
energy issues in the minds of
many Americans, and made
clear the compelling need to
have more options available to
us – more oil, more natural gas,
more clean coal, more biofuels,
more wind, solar and alternatives
of all types. Significant
improvements in energy efficiency
and expanded access
to American lands and offshore
waters that contain oil and natural
gas resources are critical to
making this happen.
Abandoning these efforts
when prices are lower is not the
answer, nor would it be a wise
course of action, and I’d hope
that doesn’t happen. We need
to agree on an energy policy
that promotes investment in this
country over the long term, one
that will increase the diversity of
energy supplies, not restrict them.
Q: As follow-up to the prior
question, earlier this year policymakers
were talking a lot about
U.S. energy independence and
security, but with the current
economic crisis the focus seems
to have shifted to economic
security. Is it realistic to think this
country can eliminate foreign
imports of oil and gas, and, if
not, what steps is ExxonMobil
taking to make more energy
supplies available in the United
States, either through increased
exploration, additional North
American projects or greater efficiencies
at the company’s U.S.
refineries and chemical plants?
A: In so many ways, our economy
is intertwined with the global
economy: We are not independent
in our capital markets. We
are not independent in most of the
commodities we use every day –
and we are certainly not independent
in the energy markets. We’ve
seen how events around the
world can have profound, immediate
effects on oil and gas supply,
demand and price.
Energy independence is not
a practical way for the United
States to achieve energy security.
But that’s not to say we
aren’t doing more to develop
more energy resources in the
United States, which will have
the effect of helping the economy
through creation and retention
of jobs, purchasing of goods
and services and other economic
contributions. For example, we’re
involved in the development of
two U.S. LNG terminals, one of
which will begin operations next
year, to make more clean-burning
natural gas available in this
country. We’re continuing work
on our Piceance Basin tight-gas
project in the Rockies, and the
first phase of that facility will start
up early in 2009. And across the
country, we are increasing activity
in onshore gas plays driven
by drilling in the Rockies, the
Arkoma Basin, and in both East
and South Texas. We have an
active lease acquisition program,
and this year we continued to
acquire significant exploration
acreage.
We continue to invest heavily
in our U.S. refineries and
chemical plants, and through
technology application and efficiency
programs we have more
than increased capacity to meet
demand for motor gasoline and
other essential products.
Q: How is ExxonMobil weathering
the economic downturn –
does it affect our capital spending
in the United States and
elsewhere?
A: ExxonMobil’s business is
strong and so is our commitment
to investing throughout
the economic cycle, here in
the United States and around
the world. We are investing at
record levels to find and develop
new supplies of energy, and our
investment plans have not been
“
We need
to agree on
an energy
policy that
promotes
investment in
this country
over the
long term.
”
12

affected by the current decline in
crude oil prices or the economic
downturn.
We are on track to invest
between $25 billion and $30 billion
dollars a year through 2012
– more than $125 billion. This
reflects our proven approach to
capital spending and the strength
of our industry-leading portfolio of
119 projects, which are expected
to bring on more than 24 billion
oil-equivalent barrels of energy to
U.S. and world markets.
None of our projects relied on
the very high oil prices we saw
last summer, and in these uncertain
economic times, ExxonMobil
continues to do what it does best,
regardless of the ups and downs
of business cycles. We take a disciplined
and long-term approach
to investment to achieve industryleading
returns and develop new
supplies of energy that are vital for
economic growth.
Q: We hear that the oil companies
are “sitting” upon millions
of acres of domestic oil and
gas leases that could be easily
developed to supply even more
needed energy to U.S. consumers.
Is this true?
A: It’s simply not true. If you think
about it, it doesn’t make sense
that anyone with commercially
producible oil would sit on it. It
costs millions of dollars to acquire
and maintain leases, and many
millions more to evaluate resource
potential and develop new technologies
to make production
possible in increasingly challenging
environments. The only way
to recoup those investments
is to produce hydrocarbons
for sale. As I mentioned earlier,
ExxonMobil’s capital investments
are long-term in nature, and we
invest steadily throughout all price
and economic cycles.
13
A lease term is typically five
or 10 years and must be relinquished
if production or other
activity doesn’t occur within a
specified term. ExxonMobil is
either producing or evaluating
78 percent of its leased acreage;
most of the remainder that we’ve
analyzed and deemed not prospective
expires within the next
12 months, and will be available
for re-leasing.
Q: Climate change is an issue
of ever-growing concern, and
many believe that an approach
to addressing it is through the
increased development of alternative
and renewable energy
sources. What is ExxonMobil
doing in this regard?
A: We are working to provide the
world with the energy it needs
while reducing greenhouse-gas
emissions. We take the issue of
climate change seriously and the
risks warrant action. So what are
we doing?
We are reducing greenhousegas
emissions in our operations,
helping consumers reduce their
emissions, supporting research
into technology breakthroughs
and participating in constructive
dialogue on policy options with
NGOs, industry and policymakers.
Our focus is to reduce emissions
and improve efficiency.
Since 2004 we have invested
more than $1.5 billion in activities
that reduce greenhouse-gas
emissions and improve energy
efficiency, and we will be spending
at least $0.5 billion on additional
initiatives over the next
few years. In addition, we are
spending more than $4 billion in
gas utilization and commercialization
projects to reduce routine
natural gas flaring. We’re already
seeing results. Through efficiency
actions taken in 2006 and 2007,
we reduced our greenhouse-gas
emissions by about 5 million
metric tons in 2007, equivalent
to removing about 1 million cars
from roads in the United States.
Our strategy for alternatives
and low-emissions energy technologies
is twofold: First, we’ve
developed a variety of technologies
available today, such as tire
liners that keep tires inflated
longer, advanced fuel economy
engine oil and lightweight automobile
plastics. Use of technologies
such as these in one-third of
U.S. vehicles would translate to a
savings of about 5 billion gallons
of gasoline and greenhouse-gas
emissions savings equal to taking
about 8 million cars off the road.
We are also working on other
new technologies both for the
mid- and longer term that address
the need for both improved fuel
economy and reduced emissions.
For example, we developed an
improved lithium battery separator
film that could help launch the
next generation of hybrid electric
cars. We are involved in advanced
engine research that could improve
fuel economy by 30 percent. We
are researching a way to generate
hydrogen on board vehicles to
power fuel cells that could improve
fuel economy by 80 percent and
reduce emissions by 45 percent.
And we are investing more than
$100 million in a new technology
for separating carbon dioxide
from natural gas, which could help
commercialize applications for carbon
capture and storage.
Q: In your view, what are some
important considerations that
should be addressed if the country
were to adopt a national policy
on climate change?
A: First and foremost, it should
not place the United States at
an economic disadvantage with
respect to other nations. Given
the global nature of the challenge

“
What’s very
important is for
policymakers
to take into
account all
the cost and
benefit options
in developing
programs for
emissions
reductions.
”
and that developing countries will
account for a significant portion
of emission increases, any policy
framework must encourage
global engagement.
In addition, ExxonMobil believes
the best policies are ones that
let market prices drive the selection
of solutions, in part because
markets are best at selecting
and deploying new technologies.
A uniform and predictable cost
for carbon across the economy
also will allow markets to work
effectively, ensuring economic
efficiency and the greatest reduction
in emissions for the lowest
cost. Administrative simplicity and
transparency – for companies and
consumers – are essential, and
any sound policy must evolve and
adjust as climate science develops
and we see the impacts of
climate policy on the economy.
What’s very important is for
policymakers to take into account
all the cost and benefit options in
developing programs for emissions
reductions, whether they involve
cap and trade, carbon tax or
some other approach. ExxonMobil
will continue to be a constructive
participant in these dialogues.
Q: Throughout the 110th
Congress there were multiple
proposals for increased taxes on
the oil industry and, in fact, as part
of the federal bailout package for
Wall Street, $9 billion in additional
taxes were levied. There is serious
talk of imposing a windfall profits
tax on oil and gas companies.
ExxonMobil has, and obviously
will, oppose such measures. Why?
A: For every dollar we earn, we
incur two and a half dollars in
taxes that governments use to
provide schools, roads, hospitals
and other essential services. In
the United States alone, our total
tax obligations during the fiveyear
period of 2003 to 2007
were $64.7 billion, exceeding
our earnings from U.S. operations
by $18.7 billion.
Yet, unfortunately, some are
proposing that new taxes should
be imposed on American energy
companies. There’s no question
that additional punitive taxes will
limit the industry’s ability to invest
in new supplies,
which conceivably
could moderate
price increases to
To learn more
exxonmobil.com/
election
provide the economic stability we
spoke about earlier. Punitive taxes
don’t offer any sustainable, longterm
solution to help develop new
energy supplies. In fact, some
of them, such as the windfall
profits tax, have been tried in the
1980s, and they resulted in higher
imports and reduced domestic
production. the Lamp
14

15
Qatar Petroleum and ExxonMobil
set pace for global growth in LNG
Joint ventures involving Qatar
Petroleum and ExxonMobil are
expected to supply a significant
amount of the world’s production
of liquefied natural gas (LNG) by
2010.
Supported by ever-improving
economies of scale, new technology
and expanded plant
and terminal capacity as well as
Qatar’s significant natural gas
resources, these Qatargas and
RasGas joint ventures expect to
increase annual LNG production
in Qatar to more than 61 million
tons within two years. This is the
equivalent to supplying the yearly
natural-gas needs for more than
30 million homes.
“The global LNG market is
growing rapidly,” says ExxonMobil
Chairman and CEO Rex Tillerson.
“That growth strengthens world
energy security by diversifying
supplies. Equally important,
because natural gas is cleanerburning
than other conventional
energy sources, the growth also
provides important environmental
benefits.”
Rapid growth in Qatar
Unlike crude oil, natural gas
traditionally has been delivered
by pipeline to consumers relatively
near its point of production.
While oil can be loaded onto
tankers and carried across the
oceans to distant markets, mov-
ing natural gas long distances
via ships is not practical when
the gas is in vapor form. But
if liquefied and converted to
a super-cold fluid (minus 260
degrees Fahrenheit), natural
gas can be safely and efficiently
transported in specially designed
LNG carriers.
What makes this possible is
that liquefied gas occupies a
space 600 times smaller than gas
in vapor form. Thus, 600 cubic
feet of gas as a vapor fits into just
one cubic foot as a liquid.
That transformation allows a
single LNG carrier to economically
deliver a significant supply
of energy to customers halfway
around the world. When
offloaded at a specially designed
receiving terminal, the gas is
warmed to ambient temperature
and returned to vapor form. It’s
then delivered to customers by
pipelines, just like conventional
natural gas.
Qatar Petroleum and
ExxonMobil have produced
natural gas from Qatar’s
offshore North Field
since 1996. With naturalgas
resources of more than
900 trillion cubic feet, the field is
the world’s largest single source
of nonassociated gas (gas not
associated with oil production);
once ashore, it is processed and
liquefied in plants known as LNG
Story by Thomas L. Torget Photography by Michael Kotlen
Joint ventures are expanding plant and terminal capacity and applying new technology
to globalize an energy resource that once was limited to regional markets.
trains. Valuable products such
as butane and condensate are
removed (for use by refiners to
make gasoline and other products)
before the gas is liquefied
and loaded aboard LNG carriers.
The first shipment of North
Field LNG in 1996 went to customers
in Japan, and exports
grew rapidly as new trains
began to come online.
Today, a multinational workforce
of 65,000 is constructing
four of the world’s largest LNG
trains that will bring to 12 the
total involved in processing
and liquefying North Field gas.
These new trains, all of which
are planned to be operational in
2009, are joint ventures involving
Qatar Petroleum, ExxonMobil
and other energy companies.
ExxonMobil holds an equity
interest in each of the 12 trains.
As the number of trains has
increased, technology improvements
have led to much larger
units with improved operating
efficiencies. While the early trains
produce about 3 million tons
of LNG annually, the newest
ones will each produce almost
8 million tons a year. Improved
efficiency translates to lower unit
costs, which enhances the competitive
position of North Field
LNG in the global energy market.
It also translates into lower
unit emissions.
Longer than three football fields,
the new Q-Max ships can transport
80 percent more LNG than conventional
carriers.
A fleet of tugboats helped position
the Adriatic LNG terminal (below) by
using a satellite global positioning
system to precisely determine the
terminal’s mooring location.

Photo courtesy of Qatargas
Bigger, more energy-
efficient LNG carriers
For nearly a third of a century,
the size of LNG carriers has
remained virtually unchanged.
However, ExxonMobil, working
with Qatar Petroleum, ship
operators, naval architects and
structural engineers, has developed
a new class of LNG carrier
that provides a step change in
the cost of delivering LNG to
distant customers.
“These new double-hulled
ships are much bigger than
conventional carriers,” says Neil
Duffin, president of ExxonMobil
Development Company. “They
have significantly larger LNG
tanks, onboard reliquefaction
units, slow-speed diesel engines,
twin propellers and rudders, and
improved ship hulls. All these
factors combine to reduce shipping
costs by about 30 percent.
That’s a huge gain because shipping
represents a significant portion
of the delivered cost of LNG.
That makes Qatar LNG even
more competitive.”
Two new categories of LNG
carriers are being built. The
larger Q-Max ships – more than
three football fields long – will
carry 80 percent more cargo
than conventional carriers. The
slightly smaller Q-Flex ships will
carry 50 percent more cargo.
Both will consume 40 percent
less energy on a delivered-unit
basis than conventional LNG
carriers. The ships are being built
in South Korea, with 27 chartered
by ExxonMobil joint ventures
due for delivery by 2009.
Twenty Q-Flex ships are already
in service, and deliveries of the
Q-Max carriers have started.
Installed 10 miles off the coast of Italy, the Adriatic LNG terminal
will supply about 10 percent of the country’s natural-gas needs.
New terminals in Italy,
Wales, Texas
ExxonMobil, Qatar Petroleum
and their international co-venturers
are investing in every phase
of the LNG value chain, including
three new receiving terminals
in Europe and the United States.
Each terminal will include not
only regasification facilities but
also adequate storage to balance
seasonal shifts in demand.
The Adriatic LNG terminal
completed its 1,700-mile journey
from its construction site in
Spain across the Mediterranean
Sea to where it was installed
10 miles off the east coast of
northern Italy in September. It is
the world’s first offshore gravitybased
LNG terminal. When it
reaches full operational capacity
in 2009, the facility will be able
to store, regasify and deliver the
LNG equivalent of about 800
million cubic feet of gas daily,
or about 10 percent of Italy’s
natural-gas requirements.
In addition, the South Hook
terminal in Milford Haven, Wales,
is being constructed on the site
of a former ExxonMobil refinery
that closed in the 1980s. With
a daily capacity
of about 2 billion
cubic feet of
gas, South Hook
To learn more
exxonmobil.com/
lngships
is scheduled to begin receiving
LNG cargoes this winter.
A third terminal, also capable
of handling up to 2 billion cubic
feet of gas daily, is being built
near Sabine Pass on the Upper
Texas Gulf Coast near the
Louisiana border. LNG cargoes
offloaded at the Golden Pass
terminal will be delivered into
several existing natural gas pipelines
that feed Texas and much
of the eastern United States.
Operation startup is expected
in 2009. the Lamp
16

17
The automotive
industry represents
a major market for
products manufactured
by ExxonMobil
Chemical Company.
During the past
year, the company
expanded its role in that
industry by introducing
new product applications
and adding capacity
at company plants in
Florida and Louisiana as
well as through a thirdparty
facility in Singapore.
The effort has opened new
markets and also has won
the company recognition for its
technical leadership.
Better battery efficiency
ExxonMobil Chemical was honored
in October when it received
a leading industry innovation
award for its battery separator
film technology. Pioneered by a
team of company scientists led
by Dr. Pat Brant, this technology
can significantly improve
the power, capacity, stability and
safety of lithium-ion batteries.
Such enhanced performance
can enable the use of smaller,
more powerful batteries in the
next generation of lower-emission
vehicles.
One such automobile is the
new Maya-300, manufactured
by Canada-based Electrovaya,
which produces lithium-ion
battery systems. Last January,
ExxonMobil announced that its
battery separator film technology
will be a key component of
Electrovaya’s battery systems.
Story by Thomas L. Torget
ExxonMobil Chemical
boosts role in auto industry
High-performance specialty films and polymers help
make vehicles lighter, safer and more energy-efficient.
“This film is just one of many
technologies we’re working on
to improve energy efficiency and
reduce emissions in the transportation
sector,” says Steve
Pryor, president of ExxonMobil
Chemical Company. “Our battery
separator film could help usher in
a new wave of more fuel-efficient
hybrid and electric vehicles.”
Electrovaya’s Maya-300 vehicle
is designed specifically for
urban use, with a driving range
of up to 120 miles before battery
recharge. Sankar Das Gupta,
the company’s chief executive
officer, says ExxonMobil’s battery
film technology helps make his
company’s battery systems more
energy-efficient, reliable and safe.
“We view our zero-emission
Maya-300 vehicle as marking a
new era in which affordable clean
transportation solutions become
available with sufficient range for
daily local driving,” he says.
Another customer for
ExxonMobil’s battery separator
film is Indiana-based EnerDel,
which manufactures lithium-ion
battery systems.
“Highly advanced, precision
materials are essential to the
rapid progress we see in lithiumion
battery development,” says
EnerDel Chief Executive Ulrik
Grape. “Improved performance
and efficiency, along with lower
costs, will help bring a new
generation of electric and hybrid
vehicles to market quickly.”
ExxonMobil Chemical produces
its battery separator film
at a plant in Nasu, Japan. To
meet growing demand for the
product, ExxonMobil and its
Japanese affiliate TonenGeneral
recently began construction of
a new manufacturing plant in
Gumi, South Korea. Startup is
expected in late 2009.
The best of both
rubber and plastic
Demand is growing rapidly for
ExxonMobil Chemical’s revolutionary
new tire material technology
that improves vehicle fuel
efficiency.
Known as Exxcore dynamically
vulcanized alloy (DVA), the
material is used in tire innerliners
to achieve improved air retention
with less material.
“This reduces air loss between
fillings, which not only makes for
safer driving but also helps conserve
energy,” says Art Sullivan,
ExxonMobil Chemical vice president
for the butyl polymers
business.
Exxcore DVA combines the
flexibility and elasticity of rubber
with the lower air permeability of
plastic. The result is air permeability
seven to 10 times lower than
that of existing innerliner materials.
Sullivan notes that if all vehicle
tires on the road in the United
States retained air pressure as
well as tires made with Exxcore
DVA, the result would be a savings
of more than 700 million gallons
of fuel annually.
“Greenhouse gases would also
be reduced by more than 6 million
tons a year,” he says. “That’s
equivalent to taking more than a
million cars off the roads.”
Yokohama Rubber Company
began manufacturing tires with
Exxcore DVA innerliners this year.

In 2009, Cheng Shin Rubber
Company, manufacturer of
the popular Maxxis brand, will
introduce Exxcore DVA into its
product line.
To help meet increased
demand for this unique product,
ExxonMobil Chemical opened
a new manufacturing facility
last August at its existing site
in Pensacola, Florida.
Growth strategy for highperformance
plastics
Today’s automobiles are built
with thousands of parts ranging
in size from minute engine
components to bumpers and
side panels, many of which are
plastic. These polymer-based
parts are used under the hood,
in the interior cabin – including
instrument panels – and in exterior
parts such as bumper fascia.
ExxonMobil is a leading supplier
of polyolefinic polymers used in
the manufacture of such parts.
As demand for its high-performance
polymers continues to
grow, last January the company
opened a new specialty compounding
facility in Baton Rouge,
Louisiana, located within one mile
of its petrochemical complex.
Annual capacity is 40,000 tons of
specialty compounded products.
“This new capacity is a key
part of our global automotive
growth strategy,” says Jim
McKinley, global manager of
ExxonMobil Chemical’s specialty
compounds business.
To learn more
exxonmobilchemical.com
“It enhances our
supply capabilities
in North America and leverages
our global supply and technical
capabilities to provide high-quality
compounded products to our
customers worldwide.”
The Baton Rouge facility
includes an extensive product support
and testing center to assist
in manufacturing new products
more quickly and cost-effectively.
It is one of several ExxonMobil
Chemical product support and
automotive-development centers
around the world that promote
collaboration between ExxonMobil
and its customers.
New product capacity
in Singapore
To improve the supply of its
high-performance specialty
compounds in the Asia-Pacific
region, ExxonMobil signed a
compounding agreement last
September with Resin & Pigment
Technologies Pte. Ltd. (R&P).
The two companies agreed
that R&P will manufacture a broad
range of ExxonMobil Chemical’s
specialty compounds for use in
automotive interior and exterior
applications, as well as in major
appliances and other consumer
products. The R&P facility
is located on Jurong
Island, Singapore, less than a
mile from ExxonMobil’s integrated
petrochemical complex.
Specialty compounds, such as
ExxonMobil’s line of Exxtral performance
polyolefins, will be produced
at R&P’s facility to supply
customers throughout the Asia-
Pacific region. This new capacity,
which can be expanded significantly
in line with growing needs,
improves ExxonMobil Chemical’s
global supply.
PSA Peugeot Citroën
specifies Exxtral
Exxtral performance polyolefins
are becoming increasingly popular
with automotive designers and
engineers seeking lighter materials
that provide needed strength
and attractive appearance at an
affordable cost.
One example is the auto manufacturer
PSA Peugeot Citroën,
which recently approved the use
of Exxtral performance polyolefins
for interior components in
its Berlingo and Partner models.
The Exxtral materials will be used
in instrument panels and door
panels as well as in upper and
lower trim. the Lamp
18

A family affair
The Talco field in East
Texas achieves a 40-year
safety record using a
simple formula: people
looking out for people.
19
Story by Bill Corporon Photography by Ed Lallo
“Some folks may think we’re
lucky,” says Greg Strickland,
field foreman at ExxonMobil’s
Talco field in East Texas, “but we
believe we make our own luck.”
Employees at the Talco field
have worked hard to make
their own luck, and it has paid
off. Talco has celebrated 40
years of operation without a
“lost time injury,” or LTI – an
injury causing an employee to
miss work.
Strickland attributes the accomplishment
to ExxonMobil’s
emphasis on safety, its training
programs and a “family atmosphere”
that has long been a
part of life at the Talco field.
“We’re a very close-knit
group,” says Patricia Carter,
senior operations technician.
“For years, employees at Talco
have socialized outside work,
and their children have gone to
school together. We all know
each other.”
Carter says that since the
early days of the Talco field,
experienced employees have
taken new workers under their
wing. “The old-timers taught the
new people how to do things
without getting hurt,” she says.
“It’s the same today.”
Greg Strickland says the safety
culture at Talco goes beyond the
effort to achieve good statistics.
“Our employees want to make
sure we all go home safe,” he
says. “Friendship and mutual
trust go a long way toward making
that happen. No one has
hard feelings if they’re corrected
for doing something the wrong
way because they know it’s for
everyone’s good.”

Greg Strickland, field foreman (above),
says the safety culture at Talco goes
beyond the effort to achieve good
statistics – employees work hard to
ensure they all go home safe at night.
Patricia Carter, senior operations technician, says the focus on safety
has been part of the culture of Talco since the field’s early days.
Small town, big changes
The Talco oil field was discovered
in 1930 and is named
after the nearby town of Talco,
a farming and ranching community
about 130 miles east of
Dallas, with roots to 1856 and a
population of about 500.
In 1936, change galloped into
Talco when drillers struck oil not
far away. Overnight, the quiet
little community turned into an
oil boomtown.
In the words of one resident,
“People went crazy. There was
no place for them to sleep, no
place for them to eat, but still
they came to Talco.”
The Humble Oil & Refining
Company, a predecessor company
of ExxonMobil, acquired an
interest in the Talco field the same
year oil was discovered. Since
that time, East Texas production
fields have become an important
training ground for engineers,
geologists and geophysicists from
Humble, Exxon and ExxonMobil.
For many, working in these
production divisions, as they
were called, was a significant
career development assignment
and often included responsibility
for Talco. A number of those
employees went on to senior
leadership positions, including
Exxon Mobil Corporation’s Senior
Vice President Mark Albers.
“Talco’s achievement in working 40 years without a
lost-time incident is remarkable in itself. But the larger
lesson is this: By working together we can meet and
surpass our safety goals. That means a safer work
environment – and a better life – for everyone.”
Randy Cleveland,
Manager of ExxonMobil U.S. Production
“The safety achievements of
Talco employees during the past
four decades is truly outstanding,”
Albers says, “and I congratulate
everyone associated with
attaining this milestone. Their
accomplishments are a reflection
of ExxonMobil’s unwavering
commitment to achieving superior
safety, health and environmental
performance.”
More than a number
Talco’s 40-year accomplishment
is impressive, and it
proves an important point, says
Randy Cleveland, manager of
ExxonMobil’s U.S. production.
“The company has always set
very high standards for safety
performance,” he says. “Talco’s
achievement in working 40 years
without a lost-time incident is
remarkable in itself. But the
larger lesson is this: By working
together, we can meet and
surpass our safety goals. That
means a safer work environment
– and a better life – for everyone.”
the Lamp
20

21
Mickelson ExxonMobil Academy
teaches excitement about math and science
The Mickelson ExxonMobil Teachers Academy provides an
informal atmosphere for elementary school teachers to learn
math and science principles designed to interest students.
Story by Richard Cunningham Photography by Todd Plitt
More than 1,400 U.S. teachers now have new ways to
build young students’ interest in math and science –
and to shape a brighter future for humankind.
Teachers see the third, fourth
and fifth grades as a window of
opportunity. It’s when children
are learning fast and forming
opinions that will shape the rest
of their lives.
Given the right encouragement,
some could enter educational
paths that would lead them
to become engineers, scientists,
computer technicians and physicians.
Indeed, these young
students could be the sources
of scientific breakthroughs and
technological innovations needed
to support human progress in the
21st century.
The trouble is, not enough
children are getting that chance
because they lack interest in
studying math and science.
The impact of this trend is
reflected in the fact that U.S. students
are not scoring as high in
math and science as their international
peers. If left unchecked,
the consequences for the
nation’s ability to compete in an
increasingly technology-based
world will be significant.
Reversing the trend
Enter the Mickelson ExxonMobil
Teachers Academy, a professional-development
program
sponsored by golfer Phil
Mickelson and ExxonMobil to not
only stem the trend but reverse it.
“Along with ExxonMobil, my
wife, Amy, and I created the academy
to help elementary school
teachers learn new ways to inspire
their students about math and
science,” Mickelson says. “If kids
learn math and science, they can
achieve almost anything.”
Launched at ExxonMobil’s
conference center in Fairfax,
Virginia, in 2005, the academy
involves an intense five-day
program for elementary school
teachers, grades three to five. To
date, more than 1,400 teachers
from schools nationwide have
been trained. Academies are now
conducted in The Woodlands,
Texas; Baton Rouge, Louisiana;
and Jersey City, New Jersey, at
the Liberty Science Center.
The curriculum is developed
in conjunction with the National
Science Teachers Association
and Math Solutions, a company
that provides math training and
instructional materials for teachers.
“Elementary teachers have to
be masters of all trades,” says
Truman Bell, ExxonMobil’s senior
program officer. “They teach
everything. It is rare to see an
elementary teacher who specializes
in math and science. The
academy is a professional-development
program to help improve
their skills in this area.”

A real joy
Participants are selected from
schools in major population
centers where ExxonMobil has
a business presence and from
areas near where Mickelson
competes in Professional Golf
Association tournaments.
Schools in a wide geographical
range from Anchorage, Alaska,
to Miami, Florida, have been represented
thus far.
For 2009, the process was
further expanded nationwide via
the new sendmyteacher.com
Web site. Students, parents,
fellow teachers and others nominated
educators to attend, and
the response was overwhelming.
Enrollment from the Web site
was set at 100, with nominations
closing this past October.
When educators return to the
classroom, the tools and techniques
they’ve learned at the
academy are passed along.
“Teachers bring back their own
personal growth and insight,”
says Dr. Ramona Chang, director
of curriculum for the Torrance
United School District in California.
“They share that enthusiasm with
their colleagues, so the influence
spreads. For me, professionally,
that has been a real joy to see.”
The activity in Torrance is part
of a national emphasis within the
United States to promote Science,
Technology, Engineering and Math
– what educators refer to as the
STEM curriculum.
The STEM program received
a bipartisan boost when the U.S.
Congress passed the America
COMPETES Act of 2007. Dr.
Chang was one of several who
testified before the Committee
on Education and Labor this
summer to report the progress
in her district.
“We are beginning to see a
change in the classroom,” Chang
says. “Our students participate
in conversations differently now
when they talk about math and
science.”
Launched in 2005, the academy has trained more than 1,400 teachers
at week-long classes in Texas, Louisiana, Virginia and New Jersey.
Professional golfer Phil Mickelson and his wife, Amy, believe
that math and science are building blocks for achievement.
Fortune 500 treatment
Most teachers who attend say
the success of the academy is
due to the quality of the instructors.
Chang agrees, but she also
credits the way it is run.
“From the moment you walk
in, you’re treated as though you
work for a Fortune 500 company,”
Chang says. “The organizers
make sure your accommodations
are attended to, all meals
are provided and every comfort is
anticipated. The outside distractions
found at other conferences
have been eliminated, so that
all the teacher has to do is stay
focused and participate.”
When teachers walk away,
many say that what they have
learned and the connections
they’ve made have changed
them as professionals – and
that, says ExxonMobil’s Bell,
is the goal of the academy.
Academy graduates are
encouraged to keep in touch
and share ideas. In Chang’s
district, an original group of nine
elementary school teachers who
attended the first academy has
grown to a committee of more
than 30. They represent a span
from kindergarten through high
school calculus.
“One change that soon surfaced
from our communications
with each other
was the realization
that we
needed to focus
more on preparing all of our students
to be proficient in algebra
by the time they complete the
eighth grade,” Chang says.
“The basis for that ability
needs to start in kindergarten,”
adds Chang. “The greater strides
will come as our youngest ones
who started a couple of years
ago advance into middle school,
but we are already seeing an
encouraging change.” the Lamp
To learn more
exxonmobil.com/
mathandscience
22 22

23
Mobil 1 motor oils
prove to be
a big hit
in Russia
Automobiles, especially imports,
have become prized possessions
in Russia among the
country’s rising middle class.
To keep their cars in peak
condition, owners overwhelmingly
insist on using automotive
products with a reputation for
superior performance – products
such as Mobil 1 lubricants.
In the world of lubricants,
synthetics are widely regarded
as the gold standard due to their
superior properties in protecting
high-performance engine parts
when compared with conventional
motor oils.
Mobil 1 is the leading brand of
synthetic motor oil in Russia, and
this nation of approximately 140
million people is one of the fastest-growing
markets for Mobil 1.
Other top international synthetics
marketers are campaigning to
trim Mobil 1’s lead, especially in
the competitive category of passenger
vehicle lubricants (PVLs).
To bolster its position,
ExxonMobil revamped its PVL
lineup this year and introduced
Story by Shelley Moore
Sales of Mobil 1 lubricants are
paced by a new product lineup
tailored to consumers at each
stage of auto-engine life.
Mobil 1 Ages, a new concept in
product selection tailored specifically
to the Russian market. The
effort is already boosting Mobil 1
motor oil sales and extending
market penetration in the country.
A land of “do-it-yourselfers”
During the past four years, purchases
of new foreign cars in
Russia have jumped more than
fivefold. This spring, foreign car
sales surpassed sales of local
makes such as Lada and Volga
for the first time in history. Until
Ford Motor Company opened a
Russian factory in 2002, all foreign
autos in Russia were imported.
“Now most of the major foreign
auto makers are here,” says Yrjo
Jalasvirta, head of the representative
office for ExxonMobil’s
Lubricants and Specialties
Russian Cluster. “St. Petersburg is
becoming the Detroit of the East.”
In July, Ford rolled its
250,000th automobile off its
Russian assembly line, and other
major manufacturers experienced
increased production as well.

Julian Proddow, automotive
marketing manager for
ExxonMobil Lubricants &
Petroleum Specialties Company
(L&S), notes that in emerging
markets such as Russia and
Eastern Europe the majority of
car owners are “do-it-yourselfers”
who perform their own oil
changes.
“Even as upwardly mobile
consumers have begun getting
their cars serviced, most still prefer
to buy motor oils from independent
retailers or, to a lesser
extent, from traditional openmarket
bazaars,” says Proddow.
“It’s therefore important for lubricant
marketers to reach the eyes
and ears of the end user.”
“Typical Russian motor-oil
customers are decision-makers,”
says Henrik Guldberg,
L&S marketing communications
manager for Europe, Africa and
the Middle East. “They shop
around, and they seek purchasing
advice from car manufacturers,
mechanics, automotive
magazines and friends.”
A sound message
for consumers
“In Western countries, it’s harder
for a brand to stand out,” adds
Jalasvirta. “The quality of various
brands is about equal in the
consumer’s mind. In Russia,
however, people tend to listen
more closely to messages about
different products.”
Based on extensive consumer
research, Mobil 1 Ages
addresses two key challenges:
Russia’s mixed inventory of
automobiles, ranging from the
very old to the very new, and
a consumer desire for more
information about choices of
lubricants. The key message
behind Mobil 1 Ages is that
there’s a synthetic motor oil for
each stage of an automobile’s
life – new, midlife and older.
“It addresses the perception
that Mobil 1 motor oils are just
for new high-end cars,” says
Guldberg.
The revamped product lineup
comprises three formulations:
New Life, Peak Life and a new
entry, Extended Life, designed to
protect older engines via a combination
of increased antiwear
and seal-swell additives. The
first shipment of the new product
line rolled into Russia about
one year ago.
“Mobil 1 Ages is a highly
integrated marketing campaign,
reaching target audiences
through advertising, retail outlets,
a trade education program, the
Internet and a traveling exposition,”
says Guldberg. “Going to
expositions is a Russian tradition.”
24

Mobil 1 profiled
throughout Russia
The premier exposition, held in
Moscow last February, featured
a photography exhibition –
The Mobil 1 Perspective: Cars,
People, Generations – that
showcased the evolution of the
automobile in Russia and around
the world.
Guests at the opening event
included ExxonMobil business
partners, automotive journalists
and local celebrities. Among the
presenters was Bill Maxwell, con-
25
A new advertising campaign tailored just for the
Russian market promotes different formulations of
Mobil 1 engine oil for each stage of an automobile’s
life – new, midlife and older.
sidered the “father” of Mobil 1
synthetic motor oils, who is a
distinguished engineering advisor
with ExxonMobil Research and
Engineering. As a young Mobil
engineer, Maxwell was part of the
global team that developed the
original synthetic PVL formulation
in the early 1970s.
The leading luminary of the
Moscow event was Vodafone
McLaren Mercedes Formula
One driver Lewis Hamilton,
who opened the photo exhibition
and described Mobil 1
as “the unsung hero of Grand
Prix racing.” In collaboration
with ExxonMobil engineers,
Hamilton’s race team tests the
performance of new lubricant
technologies on the track.
The exposition traveled through
Russia in March and April.
“We focused mainly on the
European side of Russia –
Moscow, St. Petersburg and
Krasnodar – where the automotive
market is strongest,” says
Jalasvirta. “However, we also
went behind the Ural Mountains
ExxonMobil brands
in Russia date back
nearly a century
Vacuum Oil, an ExxonMobil heritage
company, first opened an office in
Moscow for the import of lubricants
and kerosene in 1901. Soon after,
the company began manufacturing
domestically in St. Petersburg.
In the aftermath of the 1917
Bolshevik revolution, all Russian operations
of Vacuum Oil and other foreign
companies ceased. Nevertheless, the
various heritage brands of ExxonMobil
remained familiar to Russian consumers,
thanks to a network of independent
distributors.
During the decades prior to 1995,
company affiliates in Austria and
Germany managed sales in the former
Soviet Union and Russia. In 1995, both
heritage companies entered a newly
deregulated Russia, where international
companies discovered a marketplace
that was hungry for a more diverse
range of consumer goods, from packaged
cookies to passenger cars.
to the Asian side to Novosibirsk
and Ekaterinburg.
“Our distributors were very
happy that we came to the field
and further raised the profile of
Mobil 1,” he
says. “The
retailers are
quite pleased
To learn more
mobil1.com
that they now have more information
to tell consumers about
why they should choose one
motor oil or another.” the Lamp

Deepwater exploration
planned in Black Sea
ExxonMobil affiliates have signed exploration
agreements covering three large deepwater
blocks in the Black Sea offshore
Turkey and Romania.
ExxonMobil Exploration and Production
Turkey B.V. and the Turkish national oil
company, Türkiye Petrolleri Anonim Ortaklı ˘gı
(TPAO), will explore two blocks. The agreement
marks ExxonMobil’s entry into Black
Sea exploration.
ExxonMobil will become operator during
the initial exploration phase and earn a
50-percent interest in the Samsun block,
which contains about 2 million acres, and
the eastern portion of the 3921 block,
which contains some 5 million acres. Water
depths reach approximately 6,500 feet.
TPAO and ExxonMobil intend to collaborate
to merge skills and operational abilities
during the development and production
phases. TPAO is scheduled to complete
seismic acquisition and evaluation programs
on the two blocks in 2009. Assignment of
the interest to ExxonMobil by TPAO is subject
to Turkish government approval.
ExxonMobil affiliates or predecessor
companies have been operating in Turkey
for more than 100 years. ExxonMobil’s
presence in Turkey includes a lubes blending
plant in Istanbul as well as finished lubricants,
aviation fuels and marine fuel sales.
TPAO, Turkey’s sole national oil company,
Black Sea exploration blocks
Romania
Bulgaria
Moldova
• Istanbul
was founded in 1954. In addition to its
onshore and shallow-water operating experience
in Turkey, TPAO has interests in various
projects in Azerbaijan, Kazakhstan and
Libya. Since 2004, TPAO has significantly
increased domestic investments with a new
strategy to extend exploration into unexplored
basins of Turkey, especially offshore.
Offshore Romania, ExxonMobil
Exploration and Production Romania
Limited and Petrom SA, the largest
Romanian oil and gas company, have
agreed to cooperate on a 3-D seismic
acquisition and evaluation program in the
deepwater portions of the Neptun block.
Petrom will operate the initial work
program planned to begin in 2009.
ExxonMobil will fund the work program
Panorama
Around the world with ExxonMobil
Neptun block
3921
sub-block
Ukraine
BLACK SEA
Turkey
•
Ankara
Samsun block
and provide expertise in evaluating the
deepwater seismic data. The Neptun block
covers nearly 2.5 million acres, with water
depths reaching more than 5,500 feet.
Petrom, a member of the OMV group
of Central Europe, is active in oil and gas
exploration, production, refining and marketing
as well as in gas and power. It has
estimated proved oil and gas reserves of
nearly 1 billion oil-equivalent barrels. It also
manages retail networks of 550 service
stations in Romania and 227 service stations
in Moldova, Bulgaria and Serbia.
ExxonMobil’s history in Romania
also dates back more than 100 years.
Operations have included oil production,
refining and lubricants marketing.
Russia
26
Georgia

Panorama
The Exxsol capacity
expansion at ExxonMobil’s
Singapore chemical plant
adds to what was already
one of the world’s largest
integrated refining and
chemical complexes.
Singapore chemical expansion completed
ExxonMobil Chemical has expanded capacity at its
Singapore chemical manufacturing complex to produce an
additional 130,000 tons of hydrocarbon fluids a year.
The expansion boosts the Singapore plant’s total annual
hydrocarbon-fluids capacity to more than 500,000 tons.
The increased capacity addresses the rapid growth in
demand for ExxonMobil Chemical’s Exxsol hydrocarbon fluids.
These solvents are used in drilling mud oil, metal working,
polymer processing, industrial cleaning, adhesives, coatings,
27
United States and European Union
give nod to Vistamaxx
The U.S. Food and Drug Administration has approved
ExxonMobil Chemical’s Vistamaxx specialty elastomers
and resins under the Food Contact Notification process.
These grades, used in flexible and rigid food packaging, are
also compliant with the compositional requirements of the
European Union Directive 2002/72/EC for food contact.
Typical applications for Vistamaxx specialty elastomers
include food containers, kitchen tools and utensils, and toys.
Because Vistamaxx polymers improve flexibility and impact
resistance without affecting tensile strength, they can help
prevent cracking in these types of applications.
mining and household products. Compared with conventional
solvents, Exxsol hydrocarbon fluids have less odor and
reduced toxicity. They also produce fewer emissions.
Demand for Exxsol hydrocarbon fluids has been especially
strong in the Asia-Pacific region due to robust economic
growth and an increased focus on health, safety and environmental
issues.
ExxonMobil Chemical also manufactures hydrocarbon
fluids at Baytown, Texas, and Antwerp, Belgium.

Chad project continues to generate economic and social progress
Five years after oil was first produced from
the Doba basin in southern Chad, the
Chad Export Project continues to provide
significant economic growth and development
for the country and its residents.
Stephane de Mahieu, general manager,
Esso Exploration and Production Chad
Inc., provided a project update at the
Chad International Oil, Mining and Energy
Conference in N’Djamena, Chad, in October.
“At mid-year 2008, Chad’s total revenue
from the project exceeded $3 billion,” said
de Mahieu. “These revenues improve the
lives of Chad’s citizens through investments
such as paved roads and a new technical
university in the outskirts of Moundou that
is attended by 1,200 students.”
He also pointed out that the project has
spent $1.8 billion for goods and services
from an estimated 2,200 Chadian and
Cameroonian businesses since 2000.
“We made the commitment to hire
locally as much as possible, which is
why in a matter of only a few years, nine
out of 10 employees are Chadians and
Cameroonians, with a majority of our
national workers in skilled, semi-skilled or
supervisory positions.”
Other project highlights include:
Extensive and comprehensive public
consultation about the project’s development
plans and operations through community
meetings in which some 300,000
Chadians and Cameroonians participated.
Project contributions of more than $9
million to an array of community, educational
and environmental initiatives in Chad
and Cameroon.
The renovation of three clinics in the oilfield
development area to significantly improve
health services to surrounding villages.
U.S. Secretary of State honors Esso Angola
The United States Secretary of State selected Esso Exploration Angola (Block 15) Ltd.
(EEAL) as a finalist for the prestigious Secretary’s Award for Corporate Excellence (ACE).
Of 60 companies nominated by U.S. ambassadors from around the world, EEAL was
one of 11 finalists and the only one in Africa.
In notifying the company that it was a finalist, Dan Mozena, U.S. ambassador to Angola,
said the nominees for the annual award are judged on innovation, leadership and commitment
to working with others to build a better and more hopeful future in the communities
where they do business.
“I believe that the designation of ACE finalist signifies the outstanding work Esso
Exploration Angola (Block 15) Ltd. does and the high regard in which it is held, both in the
United States and Angola,” Mozena added. “EEAL is a leader in fighting malaria and HIV,
educating girls and women, preserving the environment, inculcating high standards in safety
and ethics, volunteering labor in off-hours for community-development activities, and training
the next cadre of Angolan professionals, just to mention some of its principal contributions.”
Working with local governments and organizations, EEAL has identified and implemented
a variety of social projects to improve health, advance education and reduce impacts on the
environment. Projects have led to the distribution of bed nets and medical supplies, the construction
of schools and health clinics and the protection of the rare black sable antelope,
the national symbol of Angola.
Community projects in Angola have been funded by EEAL and grants from the ExxonMobil
Foundation through its Africa Health and Educating Women and Girls initiatives. Since 2000,
EEAL and the ExxonMobil Foundation together have made financial contributions to benefit
the people and economy of Angola, and employees also have volunteered their time to
advance these projects.
Editor’s note: The 2008 winners of the Secretary’s Award for Corporate Excellence were
Cargill for its record of good corporate citizenship in China and SURevolution, a small U.S.
company that works with indigenous artisans in Colombia.
Extensive HIV/AIDS and malaria education
and prevention programs.
Improvement or construction of 558
miles of roads.
A three-company consortium has been
producing Chad’s oil and transporting
it to market as part of the Chad Export
Project since 2003. Esso Exploration
and Production Chad Inc., an affiliate of
ExxonMobil with a 40-percent interest, is
the operator. The other participants are
Petronas Carigali (Chad EP) Inc. (35 percent)
and Chevron Petroleum Chad Company
Limited (25 percent). The consortium continues
to invest heavily in new facilities and
equipment to maximize production.
To learn more, visit esso.com/Chad
28

Panorama
29
Briefly
The Texas Minority Counsel Program has
honored ExxonMobil with its 2008 Champion
of Diversity award for the company’s longstanding
efforts to support minorities in the
legal profession.
The State Bar of Texas presents the award
annually to companies that provide the program
with ongoing support and assistance.
ExxonMobil was honored for its demonstrated
commitment to hiring minority attorneys and
using minority-owned firms as outside counsel.
The Texas Minority Counsel Program is just
one in a wide range of minority legal organizations
that ExxonMobil supports, including
the Minority Corporate Counsel Association,
the National Bar Association, the National
Hispanic Bar Association, the Asian-American
Bar Association, Corporate Counsel Women
of Color and others.
“The returns on the investment in time and
sponsorship dollars are numerous,” says
Joseph Yao, who represents ExxonMobil
on the Texas Minority Counsel Program’s
steering committee. “By supporting these
organizations, we not only work to improve
the legal profession overall but most importantly,
we broaden the available talent pool for
ExxonMobil.
“Our participation enables us to meet and
network with highly skilled minority attorneys
from around the country,” says Yao.
“Sometimes that leads us to new employees;
other times it leads us to minority-owned outside
counsel that can represent ExxonMobil.”
The Exxon Mobil Corporation Board
of Directors has changed its Corporate
Governance Guidelines to enhance the role
of presiding director.
Under the changes, a presiding director
is selected by nonemployee directors from
among their members and would generally
be expected to serve a minimum term
of two years.
Previously, the chair of the Board Affairs
Committee and the chair of the Compensation
Committee presided at nonemployee director
executive sessions on an alternating basis,
depending on the subject matter under discussion.
In October, nonemployee directors selected
Samuel Palmisano, chairman, president and
chief executive officer of IBM Corporation, to
be presiding director.
The presiding director has the authority to
call and chair executive sessions of the nonemployee
directors and will chair all board
meetings in the absence of the chairman. The
presiding director will review board-meeting topics,
agendas and schedules prior to distribution
to the board, which consists of one employee
and 10 nonemployees.
“This demonstrates the board’s ongoing
commitment to independence and the highest
standards of corporate governance,” says
Rex Tillerson, ExxonMobil chairman and CEO.
“The board recognizes that corporate governance
is of broad interest and has received
input from a wide array of shareholders
through the company’s ongoing engagement
and dialogue efforts.”
Exxon Mobil Corporation’s corporate
governance practices are consistent with
an overwhelming majority of S&P 500 companies,
according to the Spencer Stewart
2007 Board Index. The Index reports that 94
percent of S&P 500 boards have a lead or
presiding director and 84 percent of S&P 500
boards have chairs who are either a current
chief executive (65 percent) or a former chief
executive or senior executive (19 percent).
The revised Corporate Governance
Guidelines are available on ExxonMobil’s Web
site at exxonmobil.com/governanceguidelines.
A U.S. television show, Idol Gives Back, has
allocated more than $60 million in charitable
contributions raised earlier this year by viewers
of the American Idol show and corporations,
including ExxonMobil.
Among the six U.S. and international charities
receiving funds was ExxonMobil-supported
Malaria No More, which received $12 million to
combat the spread of malaria in Africa.
The Lamp is published for ExxonMobil
shareholders. Others may receive it on
request. It is produced by the Public Affairs
Department, Exxon Mobil Corporation.
Exxon Mobil Corporation has numerous
affiliates, many with names that include
ExxonMobil, Exxon, Esso and Mobil. For
convenience and simplicity in this publication,
those terms and the terms corporation,
company, our, we and its are sometimes
used as abbreviated references to specific
affiliates or affiliate groups. Similarly,
ExxonMobil has business relationships
with thousands of customers, suppliers,
governments and others. For convenience
and simplicity, words like venture, joint
venture, partnership, co-venturer and partner
are used to indicate business relationships
involving common activities and interests,
and those words may or may not indicate
precise legal relationships.
Trademark ownership: The terms Exxon,
Mobil, Exxcore, Exxtral, Mobil 1, Exxsol,
Vistamaxx and Taking on the world’s
toughest energy challenges are trademarks,
service marks or certification marks of
Exxon Mobil Corporation or its affiliates.
The following terms are trademarks of the
entities indicated: Maxxis (Cheng Shin
Rubber Company); Maya-300 (Electrovaya);
McLaren (McLaren Racing Limited);
Mercedes (Daimler AG); American Idol (19
TV Ltd and FremantleMedia North America,
Inc.); Berlingo and Partner (PSA Peugeot
Citroën); Formula 1 (Formula 1 Licensing
B.V.); Fortune 500 (Time Inc.).
Forward-Looking Statements: Outlooks,
projections, estimates, targets and business
plans in this publication are forwardlooking
statements. Actual future results,
including demand growth and supply mix;
ExxonMobil’s own production growth and
mix; resource recoveries; project plans,
timing, costs and capacities; capital
expenditures; revenue enhancements and
cost efficiencies; margins; and the impact
of technology could differ materially due
to a number of factors. These include
changes in long-term oil or gas prices
or other market conditions affecting the
oil, gas and petrochemical industries;
reservoir performance; timely completion
of development projects; war and other
political or security disturbances; changes in
law or government regulation; the outcome
of commercial negotiations; the actions
of competitors; unexpected technological
developments; the occurrence and duration
of economic recessions; unforeseen
technical difficulties; and other factors
discussed here and under the heading
“Factors Affecting Future Results” in item 1
of our most recent Form 10-K and on our
Web site at exxonmobil.com.
Frequently Used Terms: References to
resources, the resource base, recoverable
resources, barrels and similar terms include
quantities of oil and gas that are not yet
classified as proved reserves, but that we
believe will likely be moved into the proved
reserves category and produced in the future.
Discussions of reserves in this publication
generally exclude the effects of year-end
price/cost revisions and include reserves
attributable to equity companies and our
Syncrude operations. For definitions of,
and information regarding, reserves, return
on average capital employed, normalized
earnings and other terms that may be used in
this publication, including information required
by SEC Regulation G, see the “Frequently
Used Terms” posted on our Web site. The
most recent Financial and Operating Review
on our Web site also shows ExxonMobil’s net
interest in specific projects.

Third-quarter earnings
ExxonMobil’s third-quarter net income
was a record $14,830 million, up
58 percent from the third quarter of
2007, while earnings per share were
up 68 percent for the same period,
reflecting the benefit of the share
purchase program. ExxonMobil
spent $6.9 billion on capital and
exploration projects, an increase of
26 percent over 2007.
On an oil-equivalent basis, production
decreased by eight percent from
the third quarter of 2007. Excluding
lower entitlement volumes and impacts
associated with the hurricanes, production
was down about five percent.
Upstream earnings, excluding a
special gain from the sale of a natural
gas transportation business in
Germany, were $9,351 million, up
$3,052 million from the third quarter
of 2007. Higher crude oil and natural
gas realizations increased earnings
approximately $4.4 billion. Lower
sales volumes decreased earnings
about $1.3 billion.
Downstream earnings were $3,013
million, up $1,012 million from the
third quarter of 2007, on higher margins
partially offset by unfavorable
foreign exchange effects. Petroleum
product sales were 6,688 kbd (thousands
of barrels a day), 413 kbd
lower than last year’s third quarter.
Chemical earnings were $1,087 million,
down $115 million from the third
quarter of 2007. Prime product sales
of 6,060 kt (thousands of metric tons)
in the third quarter of 2008 were down
669 kt from the prior year due to hurricane
effects and lower demand.
Net income for the first nine
months of 2008 of $37,400 million
was a record and increased $8,450
million from 2007. Earnings per share
increased 38 percent during the
same period, reflecting strong business
results.
ExxonMobil quarterly financial summary
Third Quarter Nine Months
Millions of dollars, except per-share amounts 2008 2007 2008 2007
Functional earnings
Upstream $ 10,971 $ 6,299 $ 29,768 $ 18,293
Downstream 3,013 2,001 5,737 7,306
Chemical 1,087 1,202 2,802 3,451
Corporate and financing (241) (92) (907) (100)
Net income (U.S. GAAP) $ 14,830 $ 9,410 $ 37,400 $ 28,950
Net income per common share
– assuming dilution $ 2.86 $ 1.70 $ 7.11 $ 5.15
Special items $ 1,450 $ 0 $ 1,160 $ 0
Earnings excluding special items $ 13,380 $ 9,410 $ 36,240 $ 28,950
Other financial data
Total revenues and other income $ 137,737 $ 102,337 $ 392,663 $ 278,910
Income and other taxes $ 32,510 $ 26,273 $ 94,212 $ 76,892
Capital and exploration expenditures $ 6,853 $ 5,441 $ 19,314 $ 14,702
Dividends on common stock $ 2,063 $ 1,932 $ 6,040 $ 5,718
Dividends per common share $ 0.40 $ 0.35 $ 1.15 $ 1.02
Thousands of barrels daily, except for natural gas and chemical
Operating data
Net production of crude oil and
natural gas liquids 2,291 2,537 2,383 2,650
Natural gas production available
for sale (millions of cubic feet daily) 7,823 8,283 8,843 9,037
Oil-equivalent production
(6 million cubic feet = 1 thousand barrels) 3,595 3,918 3,857 4,156
Refinery throughput 5,354 5,582 5,450 5,522
Petroleum product sales 6,688 7,101 6,761 7,090
Chemical prime product sales
(thousands of metric tons) 6,060 6,729 19,356 20,431
30

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© 2008 by Exxon Mobil Corporation
exxonmobil.com
when it comes to increasing our domestic
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One of the factors impacting energy prices is growing global demand. And one way to put downward pressure on prices
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The story continues at exxonmobil.com
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“It’s important to have a supply of
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Cheryl Gomez, Engineer
“We’ve developed a breakthrough
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John Kuzan, Engineer
PRSRT STD
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