Dallas reported at our 2Q2022 quarterly report that our breakeven price in 2019 was $45 per barrel and our current 3Q2022 breakeven price was $41 per barrel after several asset sales and $6 billion in OPEX saving.
Our goal is to get to $35 per barrel breakeven.
Question: What additional asset sales need to occur and how many additional billions in OPEX savings is required to get to $35 per barrel? $41 to $35 is an ambitious goal.
@1msu+1hXbi7iF only two affiliates needed:
Exxon Development and Production Permian Basin Co.
Esso Exploration and Production Guyana Ltd
Sell Australia, Chad, Malaysia, Europe, Nigeria, ACG, Iraq, Russia (sak) now...in 3 years sell angola...high cost US....GOM. Sell Billings (ASAP) refinery and German Downstream and chemicals, Sell Gronigen to neth govt. In 5 years sell AK. These steps will get rid of 10000 jobs and generate 20G in profits for sales.
Let the sites deal directly with the MSPs in Bangalore. The fact we have to go thru BTC (Xom) to get work done by MSP (contractors), doubles the cost and adds nothing but confusion.
The entire cost/support needs an overhaul….
We're getting there. Soon we'll run those carbon capture lines from Canada to US refineries. BwaHahaha
This Carbon Capture thing will keep us in the spotlight.
Durwood's encapsulated remains floating down the Houston Channel will be a confirmation to our soulful shareholders.
Penny on the pound, they say.
Replace all Executives with lower cost BTC personnel.
Very logical and saves million$ per person. It is proven that Dallas has commanded every affiliate remotely for decades, so commanding every affiliate from Bangalore should be seemless.
Move the entire EMTEC organization to BTC to provide 24/7 support.
It’s going to have to be Kearl and most of the deep water portfolio to lower the break even price. The focus on production has to be Guyana and the Permian with Qatar and Brazil to round it out. Everything else must go. Greatly reduce the Western Europe presence by loving everything to the GBC in cheaper Hungary. Reduce US headcount by pushing technical and management work to India and Malaysia. They can get to $35. A barrel, but it’s going to be an insanely heavy lift and will require them to strip the business down to barebones
Glad I left, but sad for the folks who stayed.
Buyer interest in Exxon's Montana refinery rises with fuel margins -sources
By Erwin Seba and Shariq Khan
June 14, 2022 10:24 AM CDT
https://www.reuters.com/business/energy/buyer-interest-exxons-montana-refinery-rises-with-fuel-margins-sources-2022-06-14/
HOUSTON, June 14 (Reuters) - Record-high refining margins have renewed buyer interest in Exxon Mobil Corp’s (XOM.N) smallest oil refinery, a 61,500 barrel-per-day plant in Billings, Montana, said people familiar with the matter.
Exxon has sought unsuccessfully to sell the Billings refinery for at least four years, according to sources, drawing tire-kickers from major and small refiners. A sale now could bring in between $300 million and $600 million, one of the people said.
U.S. profit margins for processing crude into gasoline, diesel and jet fuel hit five-year highs this month, reviving the plant's appeal. Rising travel and fewer refineries from pandemic-shutdowns have U.S. gasoline prices headed toward an average $6 a gallon this summer, say analysts.
At least three companies and a private investment group have shown renewed interest in the refinery this year, which returned to full production this week for the first time since a March 27 fire, the people said.
“We don’t comment on rumors,” said Exxon spokesperson Julie King.
The nation’s largest refiner by volume, Marathon Petroleum Corp (MPC.N), along with Par Pacific Holdings (PARR.N) and CVR Energy (CVI.N) are potential buyers, the people said.
Marathon Petroleum spokesperson Jamal Kheiry declined to comment. Par Pacific and CVR did not reply to requests for comment.
At least one interested buyer is said by the sources to be discussing the terms of a deal with Exxon for the refinery and could announce a sale agreement sometime this summer.
Exxon put the facility on the market to reduce its U.S. refining footprint to four plants: a trio of refineries in Baton Rouge, Louisiana, Baytown and Beaumont, Texas, which are among the nation’s largest and have adjoining chemical plants, and a 251,800 barrel-per-day refinery in Joliet, Illinois.
Nice try troll. Any responses related to your question above will result in sharing of confidential information. You obviously don't work at XOM because if you did you would know you need God's signature to release such information.