chief Have a nice weekend, everyone. WebMark J. Costa Chairman and Chief Executive Officer Read full bio Stephen G. Crawford Executive Vice President, Manufacturing and Chief Sustainability Officer Read full bio Chris M. Killian Senior Vice President and Chief Technology Officer Read full bio Brad A. Lich Executive Vice President and Chief Commercial Officer Read full bio And so, that platform gives our traders a great base to optimize off of. He was earlier associated with Nissan Motor Corporation, Collabera, Safexpress Private Limited, IBM and Cognizant Technology. Hey, good morning. Yeah. On June 1st, we plan to launch our new enterprisewide trading organization. In hydrogen, we announced front-end engineering and design contract for the world's largest low-carbon hydrogen facility in Baytown, a heads of agreement with SK Group of Korea for offtake of blue ammonia from that facility. You know, you all know, we, several years ago, had a strategy on maximizing oil recovery versus initial production rates. We just gave the trading organizations within the company some different objective statements, and they've done really well in responding to that, bringing value to the bottom line. Paul Grewal, chief legal officer at Coinbase, sits down with CNBCs MacKenzie Sigalos at Consensus 2023 to discuss the companys response to the SECs Quite a dynamic market. Yeah. 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. So, we do like the progress that we've seen there. I'll try and circle around that kind of suite of questions for you, Roger. Chief Technology Officer Exactly what we're seeing today. Shortly, Darren will provide opening comments and reference a few slides from this presentation. And so, that's kind of, I'd say, the underlying approach. So, you obviously have a big advantage with your refining footprint and your asset base. And to the extent that we're very active in the Permian, we've got a really good anchor business there, and we're working real hard on opening up the value proposition of our current acreage with technology, that will open up, potentially, opportunities for acquisitions. It keeps us on track to meet our target of $9 billion by the end of this year. 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? And so, that -- the Europe set is the price setter for global markets ex-transportation. After receiving a Bachelor of Science from the University of Illinois, Ms. Mikells began her career in 1987 at General Electric Company as an investment analyst. Bram holds a Bachelor of Science degree in chemical engineering from the University of Missouri-Rolla, now known as Missouri University of Science & Technology. ExxonMobil So, my expectation is as these new organizations come together, they'll begin to find things. In 2013, she became Vice President-Human Resources Administration & Refinery Operations, responsible for human resources in Valeros refinery operations, as well as labor relations, technical training, HR Information Services and payroll. Our presentation and prerecorded remarks are available on the new investor relations section of our website. We'll go next to Roger Read with Wells Fargo. Gorder served as Valeros Executive Vice President-Marketing and Supply, following tenure as Senior Vice President for Corporate Development and Strategic Planning. He also holds a Master of Business Administration degree from Northwestern's Kellogg School of Management in Evanston, Illinois. Bram moved to San Antonio in 2006 to serve as Vice President-Northeast/West Coast Optimization, added Mid-Continent operations to his duties in 2007 and moved to a similar role over Gulf Coast operations in 2009. Hi, guys. After leaving GE, she held finance leadership positions in banking, including the Canadian Imperial Bank of Commerce. We've now integrated our upstream into those value chains. How kind of general inflation within not just the oil field but, you know, in general, how that's affecting that? I would say we haven't changed our year-end targets, and so the guidance that we gave as part of the corporate plan discussion last year continues to hold. Earnings in our product solutions business benefited from the team's solid operational execution, with top-quartile turnaround cost and schedule performance during a particularly heavy planned maintenance period. That's work that we've got to demonstrate to ourselves. Combined with the strength of our balance sheet, we have the capability to win across a wide variety of market conditions and deliver strong returns while meeting the evolving needs of society, including the need to reduce emissions. The Motley Fool has a disclosure policy. Chief Technology Officer Sure. And we certainly saw that with the China lockdowns. That has been what I would say is on a continuum of growth. Great. But generally speaking, that happens. Operator. FuelCell Energy, Inc. - FuelCell Energy Takes Step Toward But if you go further back to some of the really high cycles, we carried more cash, and it reflected the commodity cycle and the nature that, typically, we're bringing in a lot of cash at the top of the commodity cycle. Good morning. We can trade across those value chains. Obviously, we need to be convinced that that will sustain that progress. Proactive and consistent dialogue with stakeholders to address environmental, social and governance priorities. The profits that come through trading are different quarter to quarter, but I'd say, year to year, pretty steady. The margin, we saw a lot of capacity come on. And so, we justified that project on a transportation differential and felt that that provided a reasonable return, with the expectation that, on top of that, we would see the value of the additional fuels and the higher-value products that we were producing. Our underlying performance remains rock solid and well ahead of our competition, reflecting the many improvements we've made over the last six years, and of course, the hard work of our people. Can you give us a -- thank you. Thank you. So, I'd start by saying, overall, we feel really good about the progress that we've made. Yeah. Yeah. Apr 24 2023 - Wilmington, MA. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Thanks for taking my question. And so, we can now trade all along the entire length of the value chain. The last point I'd make on refining margins, which I think is somewhat structural, typically, the marginal barrel in refining comes out of Europe. Mike Seavers Joins Yuga Labs as Chief Technology Officer. ExxonMobil CEO and key executive team | Craft.co Through investments in advantaged assets, mix improvements, and cost and operating discipline, we are delivering the structural earnings improvements outlined in our corporate plan update last December and expanding the energy supplies needed to meet growing global demand. He progressed through a number of domestic and international assignments for Exxon Company International, ExxonMobil Chemical Company and ExxonMobil Refining and Supply Company. ExxonMobil Mr. Williams, a native of Mansfield, Ohio, is a member of the Society of Petroleum Engineers and a member of the Board of Visitors for the Vanderbilt School of Engineering. And, you know, if there's any thought around kind of the absolute level of cash today and really what's optimal. He has been with the company since 1989 and has served in many leadership positions. Executive Team Hello, Darren and Kathy. Massachusetts Institute of Technology. K. A. Mikells Senior Vice President and Chief Financial Officer (1) C. S. Morford Vice President, General Counsel and Secretary ( 1) D. L. Talley Vice President-Corporate Strategic Planning (1) D. G. Wascom Vice The jump came Bill Keillor - Vice President, Global Information Technology 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. Thomas earned a business administration degree in quantitative analysis from California State University-Fresno in 1983, graduating Magna Cum Laude. I've talked about that in the past. We focused -- I'll remind you, on the Beaumont expansion, this is something that we began planning and developing many, many years ago, and it was really built on the Permian production and the changes and transportation differentials by bringing crude into the front end of the Beaumont refinery and making the intermediate products to fill our conversion capacity and backing out imports of intermediates and saving the transportation of those intermediates that are typically coming from afar. Private Company. Their exports have been higher in the first quarter, but, you know, it depends to see how those play out going forward. And, you know, about 40% of our shareholders are retail shareholders, so, you know, more of the moms and pops across the globe that, you know, are investors, and so we know it's important. He then served as ExxonMobil Chemical Companys Asia Pacific polyolefins sales manager before becoming the project executive of the Fujian integrated refining and ethylene joint venture project in China. With that, let me turn the call over to Jennifer. A significant contributing factor was structural cost savings that now total approximately $7.2 billion. Earlier in his career, he worked as an operations accountant for Exxon Corp. Simmons joined Valero in 1987 and began his career as a Process Engineer at the Ardmore refinery and held many leadership positions including Executive Director-Regional Development, Vice President and General Manager of the Ardmore refinery, Vice President and General Manager of the St. Charles refinery, and Vice President-Planning and Economics, before being promoted to his current position. He received his Bachelor of Business Administration and Master of Science degrees in accounting from Texas Tech University, where he also played football. 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. And is 9 billion -- like is that the end of the program or is there something to happen beyond that? We got high gas prices in Europe with, I think, the potential to go higher. Uaru will provide an additional 250,000 barrels a day of gross capacity, with start-up targeted for 2026. ExxonMobil Homer Bhullar is Vice President Investor Relations and Finance. 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. 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. Those are embedded in the plans that we shared with you last December. IT Head. We believe that this technology will address one of the largest environmental challenges of today, CO 2 emissions from industrial and commercial He joined Esso Chemical Company in 1984 at the Fawley Refinery in the United Kingdom upon graduating from the University of Surrey. He joined with predecessor Ultramar Diamond Shamrock (UDS), and in his current position with Valero is responsible for company strategy and innovation efforts. Thank you so much. Darren, you've spent a lot of time in the refining business over the years, and you've had a perspective on these calls that margins were going to start to normalize, and we're seeing some indication of that. So, my expectation is, you know, we've got an inventory of things going forward and would expect to see, in my mind, kind of consistent rate of being out in the market and basically finding -- seeing if we can find buyers who have a higher use for the assets than we do and, therefore, a better value and, therefore, give space. After all, the newsletter theyhave run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. 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. Thank you, Mrs Driscoll. So, we obviously take the company's working capital needs into consideration as we think about our balance sheet and our cash balance. Prior to joining Valero, Fisher worked for the law firm of Fulbright & Jaworski. The sound science of cleaner energy: Jenny Seagraves. Jennifer Driscoll -- Vice President, Investor Relations. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. Effective On May 1st, two new enterprisewide organizations will be up and running. 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. WebWe 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. Thanks. The digital watchtower - the importance of cybersecurity in the energy industry. It's a great example of where we're focused on, advantaged projects that bring on advantaged low-cost capacity. I wonder if I could just ask about unit depreciation trends. We described some of them in our cautionary statement here on Slide 2. chief Mr. Woods is currently chairman of the National Petroleum Council, and he serves on the board of directors of the American Petroleum Institute and the board of trustees of the Center for Strategic and International Studies. Learn More, ExxonMobil(XOM 1.29%)Q12023 Earnings CallApr 28, 2023, 8:00 a.m. Analog Devices, Inc. (Nasdaq: ADI) today announced the appointment of Alan Lee to the position of Chief Technology Officer (CTO). Thank you, Darren. The -- this is really around trading on the value created through the transformation of molecules and developing products that people want and then moving those products around the world. Anjani Kumar has joined Tata AIG General Insurance Company Limited as Chief Technology Officer (CTO) and EVP. 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. So, I was wondering if you could talk a little bit about the productivity trends and the driver of the strong results that you're seeing there and then, also, how you're thinking about the evolution of production for the balance of this year? A couple of points, I think, as we're looking at the refining margin. So, it's hard to stay disconnected with -- the margins eventually have to equilibrate on transportation differentials. So, I'd say we're very comfortable with where we stand. Is it a Top Stock to Buy? Chief Technology Officer The ExxonMobil Board of Directors elected Mr. Woods as Chairman and Chief Executive Officer, effective January 1, 2017. Dan Clark The deputy general counsel of Exxon Mobil Corp. has been elected by the companys board of directors to replace general counsel Randall Ebner when he And now, let me turn it back to the operator to conclude our call. I'm happy to answer that. I'd say specifically and working through project concepts and designs and making sure that we're developing projects that are going to be on that left-hand side of the cost of supply curve, and bringing on production is very competitive in the marketplace to make sure that, for the long-term, we have a robust supply point there. 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 CTO aligns services responsible for computer operations and production, Doug Leggate -- Bank of America Merrill Lynch -- Analyst, Kathy Mikells -- Senior Vice President, Chief Financial Officer. So, that's how I think about it. Additionally, we look forward to connecting again on May 31st for our annual shareholders' meeting. Hebegan his career with Valero in 1999. You've got projects that are coming on, you know, sooner and bigger if you look at Guyana. ExxonMobil "Kathy" Mikells joined Exxon Mobil Corporation in August 2021 as senior vice president and chief financial officer. ET. There is a unique value proposition there, and then my view would be we'll leverage that to the full extent that we can. ExxonMobil said the rise in profits included a $3.4bn after-tax reduction to exit Russia. Yeah. Alan Lee was named the new chief technology officer at Wilmington's Analog Devices. This article is a transcript of this conference call produced for The Motley Fool. Biraj Borkhataria -- RBC Capital Markets -- Analyst. So, that's how I would think about it. They are just working through on the cost structure with the contractor. Analog Devices Appoints Alan Lee as Chief Technology Officer ExxonMobil engineer Matthew McConomy explains how hes designing advanced recycling systems that can help harness the value of plastic waste. Just if possible, a quick follow-up. John Royall -- JPMorgan Chase and Company -- Analyst. And, you know, in recent history, it's certainly true that we ran fairly lean on cash. Cheryl Thomas serves as Senior Vice President and Chief Technology Officer, with responsibility for the companys information services network and related technology. From 2005-2007, he served as an upstream advisor for Exxon Mobil Corporation. From 2010 to 2013, Mr. Williams was president of XTO Energy Inc., which ExxonMobil acquired in 2010. I think three-month treasuries are at 5% today. But one that is very focused on significantly growing the value proposition there, really around our footprint. He previously served as President, and as Chief Operating Officer, responsible for refining operations and commercial operations in marketing, supply and transportation. Mr. Woods was appointed president of ExxonMobil Refining and Supply Company and vice president of Exxon Mobil Corporation in 2012. In 2014, Mr. Woods was elected senior vice president of Exxon Mobil Corporation. Effective January 1, 2016, Mr. Woods was elected president of Exxon Mobil Corporation and a member of the board of directors. This ongoing success reflects the hard work of our people, executing our strategic priorities and fully leveraging our competitive advantages. The organizations will focus on leveraging our scale to drive efficiencies, improve operating and financial results, and importantly, deliver an improved experience for customers, vendors, and our people. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. But I think maintaining a long-term perspective and making sure our shareholders feel rewarded through the dividend policy is an underlying principle. You know, all else held equal, a bigger company means a bigger working capital needs. Perspective The progress we're making across the company is underpinned by the continuing evolution of our business model. Rich Walsh serves as Senior Vice President and General Counsel. Independent and Diverse Board of Directors. So, we feel pretty good about our cash balance. And then when those turnarounds are finished and capacity comes back out, you get a surge of supply. As a courtesy to other analysts, please limit yourself to a single question. We care about health and safety, and protecting our employees and neighbors. 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.