Insight
ExxonMobil global downstream strategy
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
ExxonMobil's downstream business has always been a key portfolio strength. Holding close to 6 million b/d of distillation capacity, the company is the world's largest refiner with a strong foothold in North America, Europe and Asia. Integration with a peer-leading chemicals business is a core differentiator. Downstream became increasingly important to ExxonMobil's financial performance during the oil price crash, generating much-needed cash flow and positive earnings. The business accounted for around two-thirds of ExxonMobil's earnings in 2017. Earnings have been relatively stable over the past decade, offering stability and hedging protection in times of oil price volatility. While the rest of the industry chose to reduce exposure to downstream, ExxonMobil continued to invest and grow operations. We believe vertical integration will continue to play an important role in ExxonMobil's strategic decision-making and will be vital to delivering sustainable double-digit returns.
Table of contents
-
SWOT Analysis
- Strengths
- Weaknesses
- Opportunities
- Threats
-
Refining
- International Maritime Organisation regulation changes
- Chemicals
- Marketing
Tables and charts
This report includes the following images and tables:
What's included
This report contains:
Other reports you may be interested in
Insight
The 21 billion tonne elephant in the room: scope 3 emissions from upstream oil and gas
A data-driven look at upstream scope 3 emissions, leveraging Wood Mackenzie's proprietary emissions modelling.
$1,350
Insight
Global Short-Term LNG Supply Tracker (Q2 2026)
Our quaterly update on global short-term LNG supply
$1,050
Insight
Beyond the benchmark - regional divergence in graphite pricing
Wood Mackenzie is launching two new graphite price series - FOB East Africa and CIF North America - as supply chain diversification grows.
$1,050
