I know I'm kind of asking three questions in one, but they're all focused right around the 7 to 9. Our presentation and prerecorded remarks are available on the new investor relations section of our website. Good morning. In addition, he was responsible for all business activity and operations of Valeros assets in the United Kingdom and Ireland. WebExxonMobil's key executives include Darren W. Woods and 13 others. In 2005, he was appointed vice president of ExxonMobil Chemical Companys global polyethylene business. Bill Keillor - Vice President, Global Information Technology He previously served as Vice President and Deputy General Counsel, with responsibility for Valero's litigation, regulatory and employment law departments, as well as the company's ad valorem tax and environmental, health and safety groups. So, that's how I would think about it. So, we feel really good about where we're at today on our balance sheet. In 2015 he became ExxonMobil Chemical Company president, a position he held until taking his current position. We're never going to get out in front of the board of directors. 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. Thanks for taking my question. There are always short-term disruptions. And so, I mean, we're looking -- we're working really hard on our technology portfolio in the Permian. Yeah. And then we'll see how the rest of the year plays out, but we're sticking, at this point, to same year-end guidance that we gave late last year. Thank you. 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. So, I want to stick with the Permian, but I'm not going to ask an M&A question. ExxonMobil has a long history of leadership in the petroleum and petrochemical industries. Good morning. He will continue to lead the growth strategy for Accentures Industry X business, which includes digital manufacturing and intelligent products and platforms. 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. And today, I feel pretty optimistic about that. We'll go next to Alastair Syme with Citi. Where we're at now is that capacity is out there and on, and it's just a question of where demand goes. ExxonMobil engineer Natalie Martinez discusses the companys efforts to scale up advanced recycling and her part in making it happen. Cost basis and return based on previous market day close. During his more than 20 years with the DoJ, Morford had assignments as US attorney in Michigan and Tennessee and as first assistant US attorney in Ohio. In addition, our Beaumont refinery expansion reached nameplate capacity in the quarter. Jennifer Driscoll -- Vice President, Investor Relations. Sorry. IT Head. I just want to ask you if you feel that you need to backfill your Permian position at any time in the future, and I'll leave it there. You know, a lot of simplification coming across that business as a result. In simple terms, the Chief Technology Officer is the executive responsible for managing and driving value from technology within an organisation. And so, you generally see refining margins drop off here in kind of this valley between the supply coming back and then demand picking up as you head into early summer and on through the year. And then obviously, we can balance disbursement -- shareholder disbursements with buybacks. He previously served as President, and as Chief Operating Officer, responsible for refining operations and commercial operations in marketing, supply and transportation. So, just wondering if you could remind us, you know, sort of on a mid-cycle basis how to think about, you know, and how the board thinks about dividend growth because, certainly, you've de-risked some of those foundational earnings. In 2010, he was appointed vice president of supply and transportation, based in Fairfax, Virginia. ExxonMobil CEO and key executive team | Craft.co Bram holds a Bachelor of Science degree in chemical engineering from the University of Missouri-Rolla, now known as Missouri University of Science & Technology. 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. Our executive team is committed to operations excellence, disciplined management of capital and long-term value. ExxonMobil From 2010 to 2013, Mr. Williams was president of XTO Energy Inc., which ExxonMobil acquired in 2010. You've got projects that are coming on, you know, sooner and bigger if you look at Guyana. And at this time, I'd like to (210) 345-2000. And I think that's what you saw in the first quarter, and then these more macro impacts, we'll see how that plays out as we go forward. The ExxonMobil Board of Directors elected Mr. Woods as Chairman and Chief Executive Officer, effective January 1, 2017. Amazon Is Winding Down Its Halo Health Trackers in Latest Cut Karen McKee, formerly president of ExxonMobil Chemical Company has been appointed to lead ExxonMobil Product Solutions. He also has served as Chief Commercial Officer and President of Valero Europe. Yeah. Thanks for joining us today. And so, I would just think of it as a progression, a continuation with what we believe is huge opportunity, and we're going to do that in a very thoughtful controlled pace. The sound science of cleaner energy: Jenny Seagraves. Yeah. So, thank you, everybody, for your questions today. Exxon has faced pressure from investors to shake up its leadership in the executive suite and its board of directors after years of poor returns and as other global oil majors invest more heavily in the energy transition. Mikells is the first woman and first external hire to enter Exxon's uppermost echelon. I'd say we look to take a very balanced approach as we think about shareholder distributions and getting that balance between a growing competitive dividend, right, as well as the efficiency through share repurchases. Private Company. We are comfortable with everything we've got in the portfolio. We don't see a lot of difference between what the conclusions they're coming up with and our conclusions. ExxonMobil I think we've got clear line of sight to some additional ones. That enabled us, obviously, to have better throughput than we would have been planning overall for the quarter. I would just also mention that we're in a relatively unusual market environment compared to what we've seen in the past. Jason Gabelman -- Cowen and Company -- Analyst. 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. ExxonMobil India announces new CEO and Lead Country Manager Invest better with The Motley Fool. So, I'll risk a follow-up very quickly. Paul Grewal, chief legal officer at Coinbase, sits down with CNBCs MacKenzie Sigalos at Consensus 2023 to discuss the companys response to the SECs threat of enforcement action. Today's call is being recorded. Guyana, we're pleased to announce that we reached final investment decisions for Uaru, fifth offshore project, which will bring on even more production from this low-cost, low-carbon intensity resource. That's been our history. We'll go next to Biraj Borkhataria with RBC. So, you obviously have a big advantage with your refining footprint and your asset base. And is 9 billion -- like is that the end of the program or is there something to happen beyond that? Prior to Valero, he worked for ExxonMobil in refinery operations. Soon thereafter, Mark was promoted to Assistant Controller, and ultimately, Senior Vice President of Accounting, in 2012. We do see some promising signs, but we'll have to see how that China demand and their economic activity picks up. 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. Operator. You know, you can look up what people are earning on short-term cash. I think the margins in the U.S. will be a function of, you know, what production source is setting the marginal layer of production. He joined with predecessor Ultramar Diamond Shamrock (UDS), and in his current position with Valero is responsible for company strategy and innovation efforts. Mike Seavers Joins Yuga Labs as Chief Technology Officer. Now, let me cover the quarter's headlines. And so, it's really about making sure that what we do there is sustainable for the long term. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The role can differ from company to company but usually includes everything from: Technology vision and strategy Architecture Innovation Software development Infrastructure Analog Devices, Inc. (Nasdaq: ADI) today announced the appointment of Alan Lee to the position of Chief Technology Officer (CTO). The US energy firm said cost-cutting measures also contributed to its record $11.4bn (9.1bn) first-quarter profits, up from $5.5bn a year earlier. Thanks for taking my question. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. We're making good progress there. Darren Woods, chief executive officer of ExxonMobil Corp., was chipper as he bandied with industry analysts on Jan. 31 about his companys poor 2019 performance. This is not about going out and taking speculative positions. FuelCell Energy Takes Step Toward Commercializing Carbon Apr 24 2023 - Wilmington, MA. 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. The question is obviously when, but that will come. He joins from Strides where he served as CIO. Apr 28, 2023, 8:00 a.m. Hi. So, I'd say we're very comfortable with where we stand. There is a unique value proposition there, and then my view would be we'll leverage that to the full extent that we can. Schmeltekopf graduated Magna Cum Laude with a Bachelor of Business Administration degree from Texas State University in 1987. Westport Fuel Systems Welcomes New Executive Vice President Before taking his current position, he was executive vice president of ExxonMobil Production Company. 1 Valero Way Mark Schmeltekopf serves as Senior Vice President and Chief Accounting Officer, with responsibility for the companys accounting, budgeting, forecasting and profit-planning procedures, as well as financial statements and reporting, and corporate tax functions. And then with time, that'll get balanced out based on transportation differentials. WebExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the worlds growing energy needs. Greg Bram serves as corporate Vice President-Supply Chain Optimization, responsible for all economic analysis pertaining to Valero's refining operations. Find contact details for 700 million professionals. That's what you've seen us do. And, you know, if there's any thought around kind of the absolute level of cash today and really what's optimal. We've got some fairly diverse assets with respect to the ability to manage feed and change feedstocks around. Our management team So, you know, right now, we're not incurring a negative cost of carry on that cash balance, and that's certainly one of the things that we look at as well. I -- you know, it amazes me that -- the amount of questions that come up from this space. Alan Lee was named the new chief technology officer at Wilmington's Analog Devices. Exxons Humbling Fall From Oil Juggernaut to Mediocre Company Doug Leggate -- Bank of America Merrill Lynch -- Analyst, Kathy Mikells -- Senior Vice President, Chief Financial Officer. That has been what I would say is on a continuum of growth. Neil Chapman joined the Exxon Mobil Corporation Management Committee as senior vice president in 2018. So, I'd encourage you to look at that. So, we're not -- we don't have to sell anything. Hey, good morning. Global trading will bring together expertise from across the company in crude, products, natural gas, power, and marine-freight trading. Earlier in his career, he worked as an operations accountant for Exxon Corp. 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. Kathryn A. In 1994, after earning a Master of Business Administration in Finance from the University of Chicago, she began a 16-year career at United Airlines Holdings Incorporated, where she served in several corporate planning and financial roles before being appointed senior vice president and chief financial officer in 2008. He joined Valero in 2005 as part of the Premcor acquisition, serving as Refinery Manager of the Memphis refinery at the time. The Motley Fool has a disclosure policy. 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. Roger Read -- Wells Fargo Securities -- Analyst. Valero Headquarters Is it a Top Stock to Buy? Darren, I wonder if I could kick off first on disposals, another reasonable contribution from noncore asset sales. Good morning. We're always looking for an opportunity for an acquisition and one that grows value and it's got to be value-accretive. Thank you. Exactly what we're seeing today. Hi. Homer Bhullar is Vice President Investor Relations and Finance. ExxonMobil 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. Good day, everyone, and welcome to this ExxonMobil Corporation first quarter 2023 earnings call. I think just I'd speak to maybe the LNG portfolio as a whole. Reinhart was promoted to Executive Director-Corporate Communications, directing internal and external messaging, and advanced to Vice President-Corporate Communications in 2010. [Operator instructions] We'll go first to Neil Mehta with Goldman Sachs. I would describe those generally as looking to centralize kind of key functions across the company that have been done disparately previously. And certainly, from listening to some of our customers in that space, expectations of a fairly healthy air transportation or, you know, airline travel miles going forward in the summer. FuelCell Energy, Inc. - FuelCell Energy Takes Step Toward Perspective Yeah. Rich Walsh serves as Senior Vice President and General Counsel. So, our expectation as you head into the future is we'll continue to drive efficiencies and deliver structural cost savings onto the bottom line. ExxonMobil Chief Technology Officer As gas prices came off, that gave us a better liquid-to-gas spread that allowed us to change some of our feed into our crackers and see the advantage of that. Thanks for joining us today. Anjani Kumar has joined Tata AIG General Insurance Company Limited as Chief Technology Officer (CTO) and EVP. And I think I'll just -- you know, I'll catch that with, historically, you know, Exxon had kept a very lean balance sheet on both sides relative to sort of the production base and the cash flow base. Sure. Chief Technology Officer I just would make the final point that, you know, as we look at that -- at divestments, it is a value proposition. And as the situation improves and we feel comfortable that we can successfully go in there and develop the project, we'll take steps to go do that in conjunction with Total and the work that they're doing there. You know, all else held equal, a bigger company means a bigger working capital needs. So, I think, you know, in times when the markets are on the high end of the cycle, I would expect to see cash balances higher so that we're well positioned as we go into the low end of the cycle, which we know will come. Other past positions include oversight of the companys North Slope and Cook Inlet interests in Anchorage, Alaska; deputy production manager for the companys South China Sea operations in Malaysia; two years in the U.S. upstream planning organization; operations superintendent for the company's East Texas field areas; and operations manager for the companys Gulf Coast and offshore California properties. That spooled up in the first quarter. The only other thing I'd add is, you know, we obviously brought on our Baton Rouge chemical expansion project late in the fourth quarter. It's a great example of where we're focused on, advantaged projects that bring on advantaged low-cost capacity. Following a record year, ExxonMobil delivered the highest first quarter earnings in our history, even as energy prices and refining margins moderated from the fourth quarter. Prior to attending the University of Texas, Fraser served in the U.S. Army in 1986-1990. 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. Article Tags: appointment. She has played a key role in restructuring Valeros Information Services Department and integrating recently acquired assets into Valeros complex systems. Then I've got a quick follow-up, please. Actively improving the quality of life in neighboring communities. 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. Stephen Richardson -- Evercore ISI -- Analyst. But I was wondering, Darren, if you could just address how and remind us how you're thinking about dividend growth, right, because we've got, you know, clear evidence here that you've got, you know, foundational earnings growth. Bhullar holds a Bachelors degree in Economics and an MBA with a focus on investment management and energy finance, both from the University of Texas at Austin. If you look overall at where our number of -- I'd say different programs are driving savings for us. *Stock Advisor returns as of April 24, 2023. Hi, guys. 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. We like where we've gotten to with that approach. I wanted to ask about the results you're seeing there. I think jet demand and transportation looks like it's kind of trending up. So, it's hard to stay disconnected with -- the margins eventually have to equilibrate on transportation differentials. They're meant to accompany the first quarter earnings news release, which is posted in the same location.
