I think putting aside the press reports of the media, we've talked about this, I think, starting back in 2018. Paul Grewal, chief legal officer at Coinbase, sits down with CNBCs MacKenzie Sigalos at Consensus 2023 to discuss the companys response to the SECs Maybe a question on the chemicals business. Eric Fisher serves as Senior Vice President-Wholesale Marketing and International Commercial Operations, responsible for global wholesale marketing, including administration of London, Montreal and Dublin operations and the specialty products marketing business. *Stock Advisor returns as of April 24, 2023. I wanted to ask about the results you're seeing there. I would just also mention that we're in a relatively unusual market environment compared to what we've seen in the past. As you know, it's very tied to economic activity. Additional information on the risks and uncertainties that apply to any forward-looking statements are listed in our most recent Form 10-Ks and 10-Qs available on our website for investors. Thanks. Cheryl Thomas serves as Senior Vice President and Chief Technology Officer, with responsibility for the companys information services network and related technology. Great. We're always looking for an opportunity for an acquisition and one that grows value and it's got to be value-accretive. He began his career at Valero as a Process Engineer at the McKee refinery and subsequently held management positions including General Manager-Process Engineering, Director-Supply and Optimization, Vice President-Refinery Planning and Economics, Senior Vice President-Crude, Feedstock Supply and Trading, Senior Vice President-Refining Operations and Executive Vice President-Refining Operations and Engineering. Perspective He received his Bachelor of Business Administration and Master of Science degrees in accounting from Texas Tech University, where he also played football. I think good progress in both PNG and Mozambique. And then as we came out, those got turned back on again and come on to the marketplace. In 2005, he was appointed vice president of ExxonMobil Chemical Companys global polyethylene business. This ongoing success reflects the hard work of our people, executing our strategic priorities and fully leveraging our competitive advantages. Image source: The Motley Fool. Thanks for taking my question. We described some of them in our cautionary statement here on Slide 2. Hi, guys. You saw sequential margin improvement in your chemicals products business driven by advantaged ethane pricing. And we're now, I'd say, in execution mode with respect to putting the organization together, putting in the support systems, bringing in the talent, developing the talent, and growing the talent in that space. And obviously, we'll be doing an update when we come to the end of the year, and so we'll talk in more detail about what we see from there on a go-forward basis. So, we feel pretty good about our cash balance. And as a reminder, we would like you to limit yourselves to a single question. And so, that platform gives our traders a great base to optimize off of. And that -- the value of that opportunity will manifest itself in our business. He also has served as Chief Commercial Officer and President of Valero Europe. Thank you, Darren. WebSenior Vice President, Chief Safety and Security Officer and Chief Technology Officer @ ABS Education Columbia University in the City of New York Bachelor's degree (Human Resources Management and Services) Tyson David Email Address Found 2 email address listings: @fairpoint.net @exxonmobil.com Tyson David Phone Number Found 4 phone So, we feel really good about where we're at today on our balance sheet. I just would make the final point that, you know, as we look at that -- at divestments, it is a value proposition. Also, please remain on the line in case we need to ask any clarifying questions. That's true for any of the areas of our portfolio where we've got, you know, a substantial business today and ongoing technology work to make advances. Koen Berges to Succeed Johan Albrecht. Mr. Chapman has served as a member of the board of directors and executive committee of the American Chemistry Council, the board of directors of the International Council of Chemical Associations, and the board of directors and executive committee of the National Association of Manufacturers. That has been what I would say is on a continuum of growth. Spotify Technology SA s chief executive officer is engaged in a Washington charm offensive this week that he hopes will convince the US government to curb the And the final point I'd make to build on what Kathy said is we have seen, with all these organizational changes, as our people have come together in the new organizations and focused on the objectives of those organization and what the corporation is trying to achieve, we find a lot more opportunities than we could envision even going into the changes. And, you know, we obviously have an advantage in a very heavy U.S. Gulf Coast footprint kind of relative to the global footprint, and that helped us in the sequential improvement in margin. The other point I would make is, you know, feed and feed optimization is a big part of the margin equation as well. Thomas earned a business administration degree in quantitative analysis from California State University-Fresno in 1983, graduating Magna Cum Laude. We've had our own security folks out there assessing the situation. Anjani Kumar has joined Tata AIG General Insurance Company Limited as Chief Technology Officer (CTO) and EVP. Today's call is being recorded. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. He joined the company from AMD, where he served as head of research and advanced development. In early April, we announced a long-term agreement with Linde to capture, transport, and permanently store up to 2.2 million metric tons of CO2 annually. The Motley Fool has no position in any of the stocks mentioned. That's investing in the business and competitively advantaged high-return projects. And then when those turnarounds are finished and capacity comes back out, you get a surge of supply. While we're in a depletion business and, you know, we've got to work real hard to continue to bring volume on, we're not actually in the market to find volume. And we'll go next to Devin McDermott with Morgan Stanley. And so, I'd say you kind of have to take a step back from that noise in depreciation. It's really a question of how do we optimize and maximize the value, and that's been the focus from the very beginning and continue to be one. That's been our history. Hey, good morning. Before joining Valero, he held the positions of Vice President of Business Development for Ultramar Diamond Shamrock, and Director of Commercial/Industrial Sales, Assistant Treasurer and Director of Information Systems for Diamond Shamrock. The sound science of cleaner energy: Jenny Seagraves. But I wonder if the direction we're going with cash, you know, even net of shareholder returns that are continuing to increase and that are well within sort of your targets, you know, if we're kind of getting beyond fortress and into something even bigger than that. The California Public Employees Retirement System is recruiting for a chief technology officer (Career Executive Assignment) to direct and oversee enterprise technology infrastructure services across all of CalPERS retirement, health and investment programs. Shaw got two new directors installed on the 12-person board. Today's call is being recorded. In 2005, Mr. Woods was appointed vice president of ExxonMobil Chemical Company in Houston, Texas, where he managed global specialty-chemical businesses. Can you give us an update where you are in Mozambique and also in the Papua New Guinea LNG? Compared to the first quarter of 2022, we added about 300,000 oil-equivalent barrels per day to global supply, primarily from a 40% increase in production from Guyana and the Permian Basin. Mr. Corson started his career with ExxonMobil in 1983 in New Orleans, Louisiana, and has held various technical, operations, commercial and managerial assignments around the world. We'll go next to Roger Read with Wells Fargo. I would describe those generally as looking to centralize kind of key functions across the company that have been done disparately previously. I think we've got clear line of sight to some additional ones. In this role, Alan will identify and work to advance the next-generation technologies that will disrupt and shape the semiconductor industry and its markets. We're very much on track for the 9 billion at the end of this year relative to 2019. Exactly what we're seeing today. Yeah. We believe that this technology will address one of the largest environmental challenges of today, CO 2 emissions from industrial and commercial exhaust streams and power generation, said Jason Few, President and Chief Executive Officer of FuelCell Energy. Alan Lee was named the new chief technology officer at Wilmington's Analog Devices. I know I'm kind of asking three questions in one, but they're all focused right around the 7 to 9. He started as a Director in Corporate Development and moved to Business Development in 2015, where he was promoted to Vice President in 2018. You know, it's important for us to have a really strong balance sheet in order to ensure that, you know, we stick to our capital allocation priorities through the cycle, right? Their exports have been higher in the first quarter, but, you know, it depends to see how those play out going forward. ExxonMobil is moving its headquarters to the Houston area as part of a major reorganization that will put its engineering and technology support staff in one unit. Mr. Chapman returned to ExxonMobil Chemical Company in 2011 as senior vice president in charge of the companys global polymers businesses. So, what does a chief technology officer do exactly? Mr. Chapman advanced through engineering, operations, planning and commercial roles in various chemical affiliates in the United Kingdom, Belgium, the United States and Hong Kong prior to the 1999 merger between Exxon and Mobil. And if I look at some of the numbers from some of your peers, it looks like that -- those businesses, the asset optimization could add up to 5% on ROCE in exceptional environment. In 2014, Mr. Woods was elected senior vice president of Exxon Mobil Corporation. So, I'd say we're very comfortable with where we stand. Invest better with The Motley Fool. But that's an important asset as you move into the bottom of the cycle, particularly when you're trying to maintain the consistent investment levels and continue to advance the projects in the portfolio. Those are embedded in the plans that we shared with you last December. Additionally, we look forward to connecting again on May 31st for our annual shareholders' meeting. Today's call is being recorded. In addition, he was responsible for all business activity and operations of Valeros assets in the United Kingdom and Ireland. Good morning. Thanks for the question. During the presentation, we'll make forward-looking comments, which are subject to risks and uncertainties. Education Also, please note that we provided supplemental information at the end of our earnings slides, which are posted on the website. He also holds a Master of Business Administration degree from Northwestern's Kellogg School of Management in Evanston, Illinois. A public charity and Valero's philanthropic arm. Obviously, the first I would make is we don't really pride ourselves on being able to forecast margins. Reinhart was promoted to Executive Director-Corporate Communications, directing internal and external messaging, and advanced to Vice President-Corporate Communications in 2010. Exxon Mobil Corporation officers. So, that polypropylene unit that we brought on, it really -- what is a pretty low point in the polypropylene market to make earnings -- positive earnings on a brand-new piece of kit that starts up in the lowest of the cycle is, I think, a testament to the strength of the projects that we are investing in and bringing in online. That enabled us, obviously, to have better throughput than we would have been planning overall for the quarter. I think jet demand and transportation looks like it's kind of trending up. Our diverse portfolio of advantaged businesses, improvements in mix, structural cost savings, excellence in execution are driving industry-leading earnings, cash flow, and shareholder value. Prior to joining Valero, Reinhart served as a Partner in the law firm of Bracewell & Giuliani LLP, where she defended employers in all phases of employment law. Schmeltekopf joined Valero in 2003 as Executive Director of External Reporting. We'll go next to John Royall with J.P. Morgan. WebThe chief technology officer (CTO) is the individual within an organization who oversees the current technology and creates relevant policy. The profits that come through trading are different quarter to quarter, but I'd say, year to year, pretty steady. Aug. 13, 2020. Just what I'd like to ask on the specific commentary about the 7.2 billion in savings, on track for the 9 billion this year, could you characterize a little bit where that's come from to date? If you look at the quarter, you know, we more than offset inflationary cost pressure with the structural savings that we were able to generate. Simmons directs the supply, trading and hedging activities for supply of crude oil to all Valero refineries, and oversees international operations and refinery systems optimization. Prior to attending the University of Texas, Fraser served in the U.S. Army in 1986-1990. Prior to Valero, he worked for ExxonMobil in refinery operations. Darren, can I ask, in Mozambique, Total seems to be optimistic about the security on the ground. Who we are Lane Riggs serves as President and Chief Operating Officer, overseeing refining operations, engineering, projects and strategic sourcing organizations, commercial operations and renewables and logistics operations. You know, a lot of simplification coming across that business as a result. Mike Seavers Joins Yuga Labs as Chief Technology Officer. We'll go next to Jason Gabelman with TD Cowen. Devin McDermott -- Morgan Stanley -- Analyst. Like what we're doing there, I think we see some encouraging signs on the early stages of that, and we're going to keep pressing on that, maintain, you know, rigs and the capital levels that we've been talking about pretty consistently. And I have every expectation that the capacity that we brought on in Beaumont will peak -- or I know it's on the far left-hand side of the cost of supply curve, so, I feel pretty good about its competitiveness. This may be a bit of a follow-up on the questions previously about cost structure and the balance sheet. Perspective chairman and chief executive officer. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Good morning. Welcome to ExxonMobil's first quarter 2023 earnings call. Jack Williams was elected senior vice president of Exxon Mobil Corporation in 2014. The margin, we saw a lot of capacity come on. Operator. If we see similar levels of exports as we saw last year, my expectation was that'll put additional upward pressure on the margin. First, giant hedge fund D.E. Darren Woods, Chairman and Chief Executive Officer; Kathy Mikells, Senior Vice President and Chief Financial Officer; and Jennifer Driscoll, Vice President of Gorder earned a bachelors degree in business administration from the University of Missouri-St. Louis and a masters degree in business administration from Our Lady of the Lake University. We believe that this technology will address one of the largest environmental challenges of today, CO 2 emissions from industrial and commercial We're pleased to have delivered $11.4 billion of earnings, a record first quarter following a record year. Thank you, Mrs Driscoll. And then, you know, clearly, we're looking to share our success with shareholders, and you see that through a more consistent share repurchase program and a growing dividend. Tyson David - Safety and Security Manager - ExxonMobil - LinkedIn All right. Gorder served as Valeros Executive Vice President-Marketing and Supply, following tenure as Senior Vice President for Corporate Development and Strategic Planning. Biraj Borkhataria -- RBC Capital Markets -- Analyst. And so, you've seen us in the last two years raise the dividend in the fourth quarter of the year. We believe that this technology will address one of the largest environmental challenges of today, CO 2 emissions from industrial and commercial exhaust streams and power generation, said Jason Few, President and Chief Executive Officer of FuelCell Energy. The Foundation of Our Success. As we said during our Low Carbon Solutions Spotlight earlier this month, our low-carbon projects must be advantaged and deliver competitive returns. And so, that moved to a value chain construct that we had early on between refining and downstream, but now have that with our product solutions organization. Yeah. And I'm wondering if you see that dynamic as kind of balanced where cracks in Asia are zero, but margins in the U.S. are still 20, and that's kind of representative of the market structure that we're in, or do you expect the weakness in Asia margins to kind of force U.S. refining margins lower in the near term? Massachusetts Institute of Technology. In 2013, he transferred to Valero's Investor Relations department, before earning promotions to Vice President and ultimately Corporate Officer. We plan to build on our record 2022 results, leveraging the unique insights we gained from participating across each of our value chains and all along their entire length, with a global operating footprint larger than any of our competitors. The Permian is doing well. And you see us fight, certainly during the pandemic year, fight really hard to make sure that we sustain that. That led to a very different development approach trying to work across -- you know, and this cube design, work across all the benches simultaneously to maximize ultimate recovery. After all, the newsletter theyhave run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Cash flow from operations totaled $16.3 billion and our net debt-to-capital ratio declined to 4%, further increasing the strength of our balance sheet while supporting shareholder distributions of $8.1 billion in the quarter, including $3.7 billion in dividends. You know, that balance sheet gives us all the firepower and confidence we need to succeed across a very wide variety of market conditions, which is obviously what this industry faces. You remember, as we went through the pandemic, a lot of investments got stalled and pulled back. And then just recently, announcing the combination of our supply chain across the organization and setting up a global business services organization and combining our global trading capabilities across the company. And is 9 billion -- like is that the end of the program or is there something to happen beyond that? Welcome to ExxonMobil's first quarter 2023 earnings call. It keeps us on track to meet our target of $9 billion by the end of this year. Mr. Berges, 46, most recently served as CFO for Cheops Technology nv/sa, an industry-leading managed service provider in secure IT infrastructures and cloud Good day, everyone, and welcome to this ExxonMobil Corporation first quarter 2023 earnings call. ET. So, that's how I would think about it. IRVING, Texas April 28, 2023 Exxon Mobil Corporation today announced first-quarter 2023 earnings of $11.4 billion, or $2.79 per share assuming dilution. Effective On May 1st, two new enterprisewide organizations will be up and running. WebExxonMobil's key executives include Darren W. Woods and 13 others. Kathryn A. In 2008, he was named ExxonMobil Refining and Supply Companys director of refining for Europe, Africa and the Middle East, and was based in Brussels. And what we just announced is taking the trading organizations that today are somewhat dispersed through the organization and consolidating those into one centralized trading organization for the whole of the corporation. And so, it's a little bit different than the history of the company, and so would appreciate your thoughts on it. Earlier in his career, he worked as an operations accountant for Exxon Corp. I would just be curious on your views on what you're seeing in terms of product demand and then how do you think it's going to manifest itself in -- through the refining system from a margin perspective over the next couple of years? Shortly, Darren will provide opening comments and reference a few slides from this presentation. He earned hisBachelor of Arts and Juris Doctor degrees from the University of Oklahoma. We like what we see there. WebChief Technology Officer @ ExxonMobil; Executive Agent @ Firmdrex , , , , Not the Asger Michael you were looking for? And frankly, I think it's early with China.
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