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HOUSTON, — Shell today announced the launch of the Shell Energy brand into the residential power market in the United States. Through Shell Energy Solutions (“Shell Energy”) the company now offers 100% renewable electricity plans to eligible customers in Texas, expanding its portfolio of offerings and giving residential customers access to renewable electricity plans while building on the trusted relationships the company has built with Texans over decades.

“We’re excited about this entry into the residential electricity market and look forward to providing a suite of 100% renewable electricity plans to customers across the state,” said Glenn Wright, Vice President of Renewables and Energy Solutions for Shell in the Americas. “Shell is widely known for its leadership in developing and delivering low-carbon solutions for commercial customers. Now, backed by our extensive energy trading and marketing expertise, we can offer new products to residential customers who want sustainable, innovative energy plans for their homes.”

Shell Energy offers 100% renewable electricity plans to customers in competitive areas of the Energy Reliability Council of Texas (ERCOT) grid, with plans backed by renewable energy certificates that support generation from renewable resources.

“We continue to see opportunity in change,” said Wright. “This expansion of our renewable offerings in the U.S. allows us to build on our leadership in the energy transition.”

In addition to a standard 100% renewable electricity plan, Shell Energy offers a plan for electric vehicle drivers that features free charging during off-peak hours and a fixed electricity rate. For homeowners with solar panels, Shell Energy offers a solar buyback plan that gives customers credit for the excess solar power they export to the grid.

Globally, Shell Energy currently serves approximately 1.5 million customers across nine countries. Shell Energy’s launch in the U.S. is another step in Shell’s development of a material integrated power business, in-line with Shell’s strategy to become a net-zero emissions energy business by 2050.

For further information, please visit: www.shellenergy.com

Notes to Editors:

The 100% renewable electricity plans offered through Shell Energy Solutions (TX PUCT #10174) are backed by Renewable Energy Certificates. Renewable Energy Certificates are issued when one megawatt-hour (MWh) of electricity is generated and delivered to the grid from a renewable energy resource.
Shell Energy electricity plans include a standard 100% Renewable Electricity Plan, an Electric Vehicle Charging plan, and a Solar Buyback plan. Shell Energy’s Electric Vehicle Charging plan provides customers free charging during specific off-peak hours and a fixed energy rate.
Shell Energy’s Solar Buyback plan gives customers credit for the excess solar power they export. Any excess electricity that customers’ solar panels produce will offset their electricity usage, and Shell Energy Solutions will credit them for this extra power.
The ERCOT market supplies power to more than 26 million consumers across 8 million residential meters in Texas, delivering approximately 90% of the energy used in Texas.
Shell Energy North America (U.S.) LP acquired MP2 Energy LLC (MP2 Energy), a commercial and residential power retailer in 2017. MP2 Energy’s residential business was rebranded to Shell Energy Solutions in June 2022 and serves a footprint of approximately 33,000 customers.
By 2030, Shell aims to sell more than 560 terawatt-hours of power per year, twice as much electricity as the company sells today, as part of its ambition to become a net-zero emissions energy business by 2050.

ABOUT SHELL ENERGY:
Shell Energy provides energy solutions for homes, businesses, communities, and industries that help make energy usage smarter, cleaner, and easier. These solutions include everything from helping power the homes, moments, and families we love, to helping create a roadmap for businesses to meet carbon reduction goals. Because while Shell has been in the power business for almost two decades, we believe we must also help power progress toward a better energy future.

IRVING, Texas – ExxonMobil and Scepter, Inc. have agreed to work together to deploy advanced satellite technology and proprietary data processing platforms to detect methane emissions at a global scale. The agreement has the potential to redefine methane detection and mitigation efforts and could contribute to broader satellite-based emission reduction efforts across a dozen industries, including energy, agriculture, manufacturing and transportation.
ExxonMobil and Scepter, Inc. to deploy satellite technology for real-time methane emissions detection
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Real-time methane emissions monitoring at global scale
Technology consolidates data from multiple detection sources
Multi-sector initiative spans 12 industries
“This collaboration will enable multiple industries to identify the sources of methane emissions around the world in real-time, so that leak repairs or mitigation solutions can be deployed rapidly,” said Bart Cahir, senior vice president of unconventional at ExxonMobil. “This is another example of how ExxonMobil is investing in technology with leading innovators to align with the Global Methane Pledge to reduce methane emissions by 30% by 2030, compared to 2020 levels.”

In the first phase of the project, the companies will design and optimize the plan for satellite placement and coverage, initially focused on capturing methane emissions data from ExxonMobil operations in the Permian Basin. Scepter will deploy satellites in 2023 and increase coverage to more than 24 satellites over three years, forming a large constellation network capable of monitoring operations around the world.

Scepter’s satellite detection technology has shown the ability to accurately collect data on methane, while also identifying sources of carbon dioxide, nitrogen oxides, sulfur oxides, and other greenhouse gases.

ExxonMobil and Scepter are also pioneering a proprietary data fusion system that reconciles information collected from multiple detection methods, including ground-based, stationary and mobile monitoring devices. By consolidating the data, scientists could unlock valuable insights and opportunities to further quantify and validate programs that reduce methane emissions.

“We’re excited to work with ExxonMobil to develop a system that goes beyond methane detection. Our data fusion platform will be central to a broader capability to detect, quantify, abate and certify,” said Philip Father, chief executive officer of Scepter. “This approach is rooted in our mission of providing comprehensive observations on a real-time basis and global scale, therefore meeting various environmental, social and governance reporting needs.”

When combined with ExxonMobil’s data from ground-based sensors and aerial surveys using advanced analytics, Scepter’s data platform allows the company to further establish information regarding its methane emissions performance on an unprecedented scale and quickly identify high-emitting sources. The data processing platform will enable the expansion of third-party certification and supplement methane emissions-reductions efforts.

ExxonMobil supports the development of satellite surveillance and is conducting field trials of emerging technologies. The company is also taking part in an industry study with the Collaboratory to Advance Methane Science to expand ongoing initiatives to identify smarter and faster ways to detect and mitigate emissions using satellites.

The company recently announced plans to achieve net zero greenhouse gas emissions from its operated assets in the U.S. Permian Basin by 2030. These efforts include several key focus areas including continued investments in methane monitoring and detection technologies and eliminating routine flaring in the company’s Permian Basin operations by year-end 2022, in support of the World Bank’s Zero Routine Flaring initiative.

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About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor.

Follow us on Twitter and LinkedIn.

About Scepter, Inc.
Scepter has developed, and internationally patented, a ground-breaking approach to monitoring the atmosphere in real-time using an array of terrestrial, airborne and Low Earth Orbit satellite-based sensors to provide actionable information for businesses, consumers, governments and NGOs. These capabilities are not only critical for solving the global pollution and climate change crises, but also provide the platform for an emerging multibillion-dollar commercial atmospheric monitoring industry to meet environmental ESG reporting needs. To learn more, visit ScepterAir.com.

ABU DHABI, United Arab Emirates, Nov. 15, 2021 — Today at ADIPEC, IBM (NYSE: IBM) and Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN) announced the two companies will combine the benefits of IBM Open Data for Industries for IBM Cloud Pak for Data and the AWS Cloud to serve energy customers. This comprehensive solution is built on Red Hat OpenShift and will run on the AWS Cloud, simplifying the ability for customers to run workloads in the AWS cloud and on-premises. The two companies also intend to collaborate on further co-development of future functionality to provide greater flexibility and choice on where to run OSDU applications.

As an IBM and Reuters whitepaper, sponsored by IBM, found, the energy industry is facing pressure to reduce greenhouse gases as demand for affordable energy continues to rise. Energy companies need solutions that help drive efficiencies to free up capital, time and resources to invest in discovering new, more sustainable energy sources for the future. Data and digital technologies can help to navigate this transition, yet an IBM survey found that less than half of oil and gas executive respondents are using data to drive that innovation. This is in part because most of the digitization efforts have been in proprietary closed systems, hindering the potential to combine and maximize the value of data.

The collaboration between IBM and AWS aims to accelerate reduction of data barriers in the industry. IBM Open Data for Industries is an open-source solution using the OSDU data foundation for the oil, gas and energy industry. IBM Open Data for Industries is fully integrated with IBM Cloud Pak for Data for easy data management, and built on Red Hat OpenShift, the industry’s leading Kubernetes platform and open architecture, designed so that companies can run and operate applications universally. With this collaboration, customers will gain the flexibility to run OSDU Data Platform applications in the AWS cloud or on-premises while addressing data residency requirements. Combined with the expansive cloud infrastructure of AWS cloud services, this data platform can help energy companies reduce the cost, time and resources needed to leverage the data to derive insight, streamlining operations and transition to sustainable energy generation.

“Much of the data needed to solve the complex energy challenges, such as superior subsurface decisions, already exists, yet is untapped. This is because one of the greatest values of that data is derived when it can be effectively combined, but usually this data is locked by data residency requirements, legacy applications or proprietary data formats,” said Bill Vass, vice president, engineering, AWS. “By collaborating with IBM and leveraging Red Hat OpenShift, we will be able to offer customers a global, seamless offering with the flexibility to run on virtually any IT infrastructure and drive longer-term digital innovation.”

The OSDU Forum is a cross-industry collaboration that provides a vendor-neutral framework for companies to develop data platforms against common energy industry standards. By working together, IBM and AWS will accelerate the value of this platform for global customers. The goal is that this combined effort will help serve the needs of energy companies today with flexibility to adapt to change amid energy transition.

“Data is a critical asset to help fuel energy transition, yet too often energy companies must choose between running applications on-premises or in the cloud, and often each deployment uses a proprietary data format,” said Manish Chawla, global managing director, energy, resources and manufacturing, IBM. “This means that rather than using all of that collective data to gather insights, augment operations and inform innovation, some of it was going unused. Our collaboration with Amazon Web Services is addressing the need to make it easier for energy customers to access their data and provides the industry with a flexible solution to meet the challenges of today, as well as more easily adapt as the industry evolves.”

This collaboration underscores the value of IBM and Red Hat to provide flexibility and unlock greater business value for operational data across industries.

Those attending the ADIPEC Exhibition and Conference are encouraged to attend a joint, fireside session hosted at the AWS booth, Abu Dhabi Convention Centre, Hall 13, AWS booth #13360, on Monday, Nov. 15th 12:30pm – 1:00pm GMT +4. AWS and IBM will further discuss this collaboration and meeting the challenges of the industry.

About IBM
IBM combines technology with industry expertise to help Oil & Gas clients digitally reinvent their businesses for resilience and sustainability. Pioneering advances in materials science from IBM Research accelerate energy transition. Data science and AI take the guesswork out of exploration. Predictive asset management raises production throughput. Supply chain insights and blockchain build trust and transparency across the downstream ecosystem. Customer experience experts reshape consumer connections at the gas pump or electric charge station. Through these solutions IBM helps Oil & Gas clients emerge smarter. For further information visit: https://www.ibm.com/industries/oil-gas

Red Hat, the Red Hat logo and OpenShift are trademarks or registered trademarks of Red Hat, Inc. or its subsidiaries in the U.S. and other countries.

IBM’s statements regarding its plans, directions, and intent are subject to change or withdrawal without notice at IBM’s sole discretion. Information regarding potential future products is intended to outline our general product direction and it should not be relied on in making a purchasing decision. The information mentioned regarding potential future products is not a commitment, promise, or legal obligation to deliver any material, code or functionality. Information about potential future products may not be incorporated into any contract. The development, release, and timing of any future features or functionality described for our products remains at our sole discretion.

Contact: Allison Bishop, allison.bishop@ibm.com

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SAN RAMON, Calif. and DEERFIELD, Ill., – Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE: CVX), and Caterpillar Inc. (NYSE: CAT) today announced a collaboration agreement to develop hydrogen demonstration projects in transportation and stationary power applications, including prime power.

The goal of the collaboration is to confirm the feasibility and performance of hydrogen for use as a commercially viable alternative to traditional fuels for line-haul rail and marine vessels. The collaboration also seeks to demonstrate hydrogen’s use in prime power. Linked to the collaboration, and facilitated by Progress Rail, a Caterpillar company, the parties also agreed to demonstrate a hydrogen-fueled locomotive and associated hydrogen-fueling infrastructure. Work on the rail demonstration will begin immediately at various locations across the United States.

“Through Chevron New Energies, Chevron is pursuing opportunities to create demand for hydrogen – and the technologies needed for its use – for the heavy-duty transportation and industrial sectors, in which carbon emissions are harder to abate,” said Jeff Gustavson, president of Chevron New Energies. “Our collaboration with Caterpillar is another important step toward advancing a commercially viable hydrogen economy.”

“As we work to provide customers with the capability to use their desired fuel type in their operations, collaborating with Chevron is a great opportunity to demonstrate the viability of hydrogen as a fuel source,” said Joe Creed, Caterpillar group president of Energy & Transportation. “This agreement supports our commitment to investing in new products, technologies and services to help our customers achieve their climate-related objectives as they build a better, more sustainable world.”

About Chevron
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance a lower-carbon future, we are focused on cost efficiently lowering our carbon intensity, increasing renewables and offsets in support of our business, and investing in low-carbon technologies that enable commercial solutions. More information about Chevron is available at www.chevron.com.

About Caterpillar
With 2020 sales and revenues of $41.7 billion, Caterpillar Inc. is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Since 1925, we’ve been driving sustainable progress and helping customers build a better world through innovative products and services. Throughout the product life cycle, we offer services built on cutting-edge technology and decades of product expertise. These products and services, backed by our global dealer network, provide exceptional value to help our customers succeed. We do business on every continent, principally operating through three primary segments – Construction Industries, Resource Industries, and Energy & Transportation – and providing financing and related services through our Financial Products segment. Visit us at caterpillar.com or join the conversation on our social media channels at caterpillar.com/social-media.

IRVING, Texas — Exxon Mobil Corporation has received notice of an unsolicited mini-tender offer by Ponos Industries LLC to purchase up to 1 million shares of ExxonMobil common stock, which represents approximately 0.024 percent of the shares outstanding as of the April 27, 2020 offer date.
ExxonMobil recommends shareholders reject below-market mini-tender offer by Ponos Industries LLC
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Ponos’ offer price of $48 per share is conditioned on the closing price per share exceeding $48 per share on the last day before the offer expires. This means that the offer will only be accepted if the offer is below market value.

ExxonMobil recommends that stockholders do not tender their shares in response to Ponos’ offer because the offer is at a price below a conditional market price for ExxonMobil’s shares and subject to numerous conditions. ExxonMobil is not affiliated or associated in any way with Ponos, its mini-tender offer or the offer documentation.

Ponos has made many similar mini-tender offers for shares of other companies. Mini-tender offers seek to acquire less than 5 percent of a company’s shares outstanding, thereby avoiding many disclosure and procedural requirements of the U.S. Securities and Exchange Commission (SEC) that apply to offers for more than 5 percent of a company’s shares outstanding. As a result, mini-tender offers do not provide investors with the same level of protections as provided by larger tender offers under U.S. securities laws.

The SEC has cautioned investors that some bidders making mini-tender offers at below-market prices are “hoping that they will catch investors off guard if the investors do not compare the offer price to the current market price.” More on the SEC’s guidance to investors on mini-tender offers is available at www.sec.gov/reportspubs/investor-publications/investorpubsminitendhtm.html.

ExxonMobil urges investors to obtain current market quotations for their shares, to consult with their broker or financial advisor and to exercise caution with respect to Ponos’ offer. ExxonMobil recommends that shareholders who have not responded to Ponos’ offer take no action. Shareholders who have already tendered their shares may withdraw them at any time prior to the expiration of the offer, in accordance with Ponos’ offering documents. The offer is currently scheduled to expire at 1 p.m. EST on Friday, Nov. 27, 2020. Ponos may extend the offering period at its discretion.

ExxonMobil encourages brokers and dealers, as well as other market participants, to review the SEC’s letter regarding broker-dealer mini-tender offer dissemination and disclosure at www.sec.gov/divisions/marketreg/minitenders/sia072401.htm.

ExxonMobil requests that a copy of this news release be included with all distributions of materials relating to Ponos’ mini-tender offer related to ExxonMobil shares of common stock.

About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor.

Follow us on Twitter and LinkedIn.

SAN RAMON, Calif. Chevron Corporation (NYSE: CVX) today provided an overview of the company’s work to respond to the COVID-19 pandemic at its 2020 annual meeting of stockholders. This year’s meeting was virtual in place of an in-person event due to safety concerns related to the pandemic.

“Our thoughts are with those affected by COVID-19 and the healthcare workers on the front lines battling to contain the outbreak,” said Michael Wirth, Chevron’s chairman and CEO.

The energy industry’s continued operations are necessary to ensure the security, safety, and health of all communities and critical to efforts to respond to the pandemic. The company’s biggest challenges are to ensure safe access to its facilities and continuity of operations. Chevron is successfully running essential facilities at operational levels necessary to meet current demand. The company is taking strong precautionary measures to reduce the risk of exposure, including screening workers and visitors at these locations.

“We activated our pandemic response plan in January, and have continued to adapt as events have unfolded,” Wirth said. “I am proud of our workers who show up every day to keep energy flowing into the economy.”

Commodity prices have fallen significantly due to the destruction of demand resulting from the COVID-19 pandemic and the over-supply of crude oil. The company expects its financial results will be depressed as long as current market conditions persist.

“Chevron is responding to these unprecedented challenges by making changes to what we can control,” Wirth said. “It’s always good to hear from our stockholders. We hope the meeting today left them with a deeper understanding of how we’ve advanced the business over the past year and our plans for the year ahead.”

The preliminary results from the meeting can be accessed via chevron.com here. Final voting results will be posted in the same location after they have been reported on a Form 8-K, which will be filed with the U.S. Securities and Exchange Commission. Specific information about the proposals before Chevron stockholders this year may be found in the “Investors” section of the company’s website under “Stockholder Services – Annual Meeting Materials.”

Chevron Corporation is one of the world’s leading integrated energy companies. Through its subsidiaries that conduct business worldwide, the company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemicals and additives; generates power; and develops and deploys technologies that enhance business value in every aspect of the company’s operations. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.

IRVING, Texas – ExxonMobil said today it has reconfigured manufacturing operations in Louisiana to produce medical-grade hand sanitizer for donation to COVID-19 response efforts in Louisiana, New Jersey, New Mexico, New York, Pennsylvania and Texas.
ExxonMobil modifies facilities to produce medical-grade sanitizer for COVID-19 response
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Product to be donated to health care providers and first responders across the United States
Equipment modified to enable Baton Rouge area facilities to produce, blend, package and distribute sanitizer
Targeting production of 160,000 gallons of sanitizer, enough for nearly 5 million bottles
Initial production of 160,000 gallons of medical grade sanitizer – enough to fill nearly 5 million 4-ounce bottles – is being distributed to medical providers and first responders. Additional donation locations are planned.

“The ingenuity and dedication of our employees to develop a consumer-ready product in record time demonstrates ExxonMobil’s commitment to help those in need during the global pandemic,” said Darren Woods, chairman and chief executive officer of Exxon Mobil Corporation. “We’re focused on keeping our people and communities safe while supporting frontline responders and meeting customer needs.”

ExxonMobil has increased monthly production of isopropyl alcohol — a key ingredient in sanitizer – by about 3,000 tonnes at its chemical manufacturing facility in Baton Rouge, Louisiana. To produce, package and distribute hand sanitizer, the company purchased additional ingredients and modified equipment in Baton Rouge and at a lubricants plant in nearby Port Allen, Louisiana.

“To stand up an entirely new process and supply chain in a matter of weeks, while maintaining ExxonMobil’s high standards for safety and quality and in compliance with FDA requirements is truly remarkable,” said Karen McKee, president of ExxonMobil Chemical Company.

Earlier this month, ExxonMobil announced the increased production of isopropyl alcohol, which is enough to enable monthly production of up to 50 million 4-ounce bottles of sanitizer. The company also increased its capability to manufacture specialized polypropylene, used in medical masks and gowns, by about 1,000 tonnes per month, which is enough to enable production of up to 200 million medical masks or 20 million gowns.

ExxonMobil is also participating in a technology collaboration with the Global Center for Medical Innovation to rapidly redesign and manufacture reusable personal protection equipment, such as medical face shields and masks.

About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor.

IRVING, Texas — ExxonMobil is looking to significantly reduce spending as a result of market conditions caused by the COVID-19 pandemic and commodity price decreases, the company said today.
ExxonMobil evaluating significant near-term capital and operating expense reductions
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“Based on this unprecedented environment, we are evaluating all appropriate steps to significantly reduce capital and operating expenses in the near term,” said Darren Woods, chairman and chief executive officer of Exxon Mobil Corporation. “We will outline plans when they are finalized.”

Woods said that ExxonMobil has faced numerous market downturns throughout its long history and has experience operating in a sustained low-price environment. “We remain focused on being a safe, low-cost operator and creating long-term value for shareholders,” said Woods.

The company is closely monitoring the COVID-19 pandemic and has adjusted work arrangements to ensure a healthy work environment and support communities where we operate.

Woods stressed the company will maintain its ongoing commitment to safety and environmental performance.

“We are confident that we will manage through these challenging times by taking deliberate action to keep our people safe, our environment protected and our company strong,” said Woods.

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About ExxonMobil

ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor.

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IRVING, Texas – ExxonMobil has increased its estimated recoverable resource base in Guyana to more than 8 billion oil-equivalent barrels and made a further oil discovery northeast of the producing Liza field at the Uaru exploration well, the 16th discovery on the Stabroek Block.

ExxonMobil ups Guyana recoverable resources to more than 8 billion oil-equivalent barrels, makes discovery at Uaru
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Stabroek Block recoverable resources increased by 2 billion oil-equivalent barrels
Uaru well is 16th discovery, will be incremental to the new resource estimate
Fifth drillship expected in 2020
The new recoverable resource estimate includes 15 discoveries offshore Guyana through year-end 2019. The Uaru discovery is the first of 2020 and will be added to the resource estimate at a later date.
“With recent high-quality finds at Tripletail and Mako contributing to our recoverable resources, our investments will continue to provide benefits for the people of Guyana,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil. “The Uaru discovery is another positive step as we begin a new decade with the Co-operative Republic of Guyana and our co-venturers.”

Uaru encountered approximately 94 feet (29 meters) of high-quality oil-bearing sandstone reservoir. The well, drilled in 6,342 feet (1,933 meters) of water, is located approximately 10 miles (16 kilometers) northeast of the Liza field, which began producing oil in December 2019.
Production from the Liza Phase 1 development is currently ramping up and will produce up to 120,000 barrels of oil per day in the coming months, utilizing the Liza Destiny floating production storage and offloading vessel (FPSO).
The Liza Unity FPSO, which will be employed for the second phase of Liza development and will have a production capacity of 220,000 barrels of oil per day, is under construction and expected to start production by mid-2022.
Pending government approvals and project sanctioning of a third development, production from the Payara field north of the Liza discoveries could start as early as 2023, reaching an estimated 220,000 barrels of oil per day.

Four drillships in Guyana continue to explore and appraise new resources as well as develop the resources within approved projects. A fifth drillship is expected to be deployed later this year.
The Stabroek Block is 6.6 million acres (26,800 square kilometers). ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Limited, holds 30 percent interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds 25 percent interest.
About ExxonMobil
ExxonMobil, the largest publicly traded international energy company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil is a global leader in LNG project execution and holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. For more information, visit www.exxonmobil.com or follow us on Twitter at www.twitter.com/exxonmobil.

IRVING, Texas – ExxonMobil said today that it has made a final investment decision on a multi-billion dollar expansion of its integrated manufacturing complex in Singapore to convert fuel oil and other bottom-of-the-barrel crude products into higher-value lube base stocks and distillates.

The expansion project uses proprietary technologies to increase yields of higher-value products
Integrated downstream and chemical investment enhances site competitiveness
Construction to begin in second half of 2019, startup anticipated in 2023
The expansion project is part of the company’s plan to further enhance the competitiveness of the Singapore facility, which includes the world’s only steam cracker capable of cracking crude oil. The project, which leverages proprietary technologies, integration and scale, will significantly increase site downstream and chemical earnings potential. Engineering, procurement and construction activities have begun, and startup is anticipated in 2023.

“The demand for high-quality fuels and lubricants will increase as the global economy expands,” said Bryan Milton, president of ExxonMobil Fuels & Lubricants Company. “By using a combination of proprietary catalyst and process technologies, we will increase the site’s competitiveness and help meet growing demand for high-performance lubricants and cleaner fuels.”

The investment will add 20,000 barrels per day of ExxonMobil Group II base stocks capacity, which includes EHCTM 50 and EHCTM 120 grades, in addition to a new high-viscosity Group II base stock to meet increasing demand in the Asia-Pacific region.

“The project also applies new chemicals technologies and leverages integration across the crude cracker and refining complex to further enhance the competitiveness of crude cracking,” said Karen McKee, president of ExxonMobil Chemical Company.

The expansion will add the capacity to increase production of cleaner fuels with lower-sulfur content by 48,000 barrels per day, including high-quality ExxonMobil Marine fuels to enable customers to meet the International Maritime Organization’s 0.50 percent sulfur requirement.

The project represents the latest and most significant in a series of recent ExxonMobil investments in base stock production. Recent ExxonMobil EHCTM Group II base stock investments include a 2015 expansion in Singapore and the startup of a world-scale, enhanced hydrocracker unit in Rotterdam in 2018.

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Engineering, procurement and construction contracts have been awarded to Técnicas Reunidas for the new process units, and Wood Group for interconnecting pipelines and supporting infrastructure facilities. As part of the project, ExxonMobil is working on a long-term commercial agreement with Linde to upgrade residue from the site to hydrogen and synthesis gas.

About ExxonMobil
ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. For more information, visit www.exxonmobil.com or follow us on Twitter www.twitter.com/exxonmobil.

IRVING, Texas–ExxonMobil said today that it has begun drilling the Haimara-1 exploration well offshore Guyana, the first of two planned wells in January. The Stena Carron drillship is drilling the well, which is located 19 miles (31 kilometers) east of the Pluma-1 discovery in the southeast Stabroek Block.

The Noble Tom Madden drillship is expected to drill the second well, Tilapia-1, about three miles (five kilometers) west of the Longtail-1 discovery. The Tilapia-1 well is located in the growing Turbot area.

“We continue to prioritize high-potential prospects in close proximity to previous discoveries in order to establish opportunities for material and efficient development,” said Steve Greenlee, president of ExxonMobil Exploration Company. “Like the Liza and Payara areas, the Turbot area is on its way to offering significant development options that will maximize value for Guyana and our partners.”

ExxonMobil is progressing the Liza Phase 1 development, which has moved into its peak execution phase ahead of expected startup in early 2020. Drilling of development wells in the Liza field is continuing using the Noble Bob Douglas drillship, subsea equipment is being prepared for installation, and the topside facilities modules are being installed on the Liza Destiny floating, production, storage and offloading (FPSO) vessel in Singapore.

Preparations are underway for the commencement of pipe-laying activities in the Liza field in the spring. The Liza Destiny FPSO is expected to sail from Singapore to arrive offshore Guyana in the third quarter of 2019.

The potential exists for at least five FPSOs on the Stabroek Block producing more than 750,000 barrels of oil per day by 2025. Liza Phase 2 is expected to start up by mid-2022. Pending government and regulatory approvals, project sanction is expected first quarter 2019 and will use a second FPSO designed to produce up to 220,000 barrels per day. Sanctioning of a third development, Payara, is also expected in 2019 with start up as early as 2023.

ExxonMobil also plans to deploy a seismic vessel operated by Petroleum Geo-Services (PGS) to the Turbot area to acquire 4-D seismic data similar to a 4-D campaign conducted in the Liza area in 2017. A second PGS vessel has been released after seismic acquisition activities were suspended on Dec. 22 when vessels were approached by the Venezuelan navy in the northwest portion of the Stabroek Block.

Drilling and development operations offshore Guyana are unaffected by the incident, which occurred more than 110 kilometers from the Ranger discovery, the closest of 10 discoveries made by ExxonMobil in the southeast section of the Stabroek Block.

ExxonMobil operates the Stabroek Block offshore Guyana under license from the government of Guyana. The acquisition of seismic data was being conducted under license from the government of Guyana in the country’s exclusive economic zone. ExxonMobil is evaluating next steps for the seismic program.

Throughout its activities, ExxonMobil continues to emphasize and promote direct benefit to local business. More than 50 percent of the Guyana affiliate’s employees, contractors and subcontractors are Guyanese, a number that will continue to grow as operations progress. ExxonMobil, its partners and its contractors spent about US$65 million with more than 300 local suppliers during the first three quarters of 2018. The Centre for Local Business Development, established by ExxonMobil in 2017 to promote the establishment and growth of small- and medium-sized local businesses, continues to enable access to training and capacity-building. More than 1300 local businesses have registered with the centre.

ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Nexen Petroleum Guyana Limited holds 25 percent interest.

About ExxonMobil
ExxonMobil, the largest publicly traded international energy company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. For more information, visit www.exxonmobil.com or follow us on Twitter www.twitter.com/exxonmobil.

The OPEC Secretary General, His Excellency Mohammad Sanusi Barkindo, has today received a letter from the State of Qatar giving notice of its intention to withdraw from its Membership of OPEC, pursuant to Article 8 of the OPEC Statute, with effect from 1 January 2019.
The letter from His Excellency Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs, also expressed sincere appreciation to OPEC Member Countries, the OPEC Secretary General and all OPEC staff.

Every Member Country has the sovereign right to withdraw from the Organization and this requires no approval from the OPEC Conference. The Organization respects the decision taken by the State of Qatar.

The OPEC Secretariat expresses thanks to the State of Qatar for its support of the Organization over the many decades of its Membership.

In the past three years, OPEC has seen Gabon (2016) rejoin the Organization and welcomed new members, Equatorial Guinea (2017) and the Republic of the Congo (2018). OPEC appreciates the continued interest of producers wanting to join the Organization.

OPEC remains fully committed to achieving and sustaining balance and stability in the market, through the Organization, and with the landmark ‘Declaration of Cooperation’, alongside 10 participating non-OPEC countries.

ROTTERDAM: GoodFuels Marine, the world’s first supplier of sustainable low carbon marine fuels, in conjunction with bulker and tanker owner and operator NORDEN A/S, has successfully completed trials of the world’s first zero emission, ‘drop in’ Heavy Fuel Oil (HFO)-equivalent marine biofuel – almost entirely reducing all carbon and sulphur emissions.

The culmination of three years extensive research and development with partners including Royal Dutch Boskalis and technology group Wärtsilä, GoodFuels’ Bio-Fuel Oil (BFO) delivers near-zero carbon and Sulphur Oxide (SOx) emissions without any requirement for engine modifications. The trials – which saw hundreds of tonnes of ‘drop in’ BFO taken onboard in the Amsterdam-Rotterdam-Antwerp region – were conducted on the 37,000 deadweight tonne (dwt) Handysize product tanker vessel NORD HIGHLANDER as she ran in typical commercial operation in the North and Baltic Seas.

The successful operation effectively means that there is the capability to future-proof fuel requirements for shipowners and operators who are seeking an alternative to both distillates and Ultra Low Sulphur Fuel Oil (ULSFO) in order to comply with 2020 0.5% sulphur cap requirements, as well as impending International Maritime Organisation (IMO) Greenhouse Gas (GHG) reduction requirements. These requirements include an objective to reduce average carbon intensity from shipping – the amount of carbon emitted for each unit of transport – by at least 40% by 2030, and 70% by 2050.

Dirk Kronemeijer, CEO, GoodFuels Marine, commented:

“We want to greatly thank NORDEN A/S for being a pioneer and for joining us as we take this crucial step towards developing a carbon-busting solution that is scalable, truly sustainable, technically compliant and – crucially – affordable. In our journey so far we have focused on realising the widescale use of bio-marine gas oil (MGO) equivalent biofuel, but for over three years we have been working day and night to develop our BFO solution.

“The importance of its arrival in the market is further underlined by the dual prospect of impending lower sulphur and carbon legislation. Bringing this to market now offers shipping a near-zero carbon and SOx alternative to HFO, and VLSFO – 0.5% blended fossil fuel – both of which will be prevalent in the market post-2020. From this point onwards we want to scale supply as fast as we can in order to actively contribute to the world’s 1.5 degree challenge.”

Jan Rindbo, CEO, NORDEN, added:

“NORDEN is proud to be at the forefront of testing and introducing CO2 neutral fuel that truly makes an impact on the highly important agenda of reducing the carbon footprint of shipping.”

“NORDEN has come a long way in increasing fuel efficiency and has reduced CO2 emissions per tonne cargo transported on owned tanker vessels by 25% between 2007 to 2017. With the newly introduced IMO targets on CO2 reductions, however, it is evident that increased fuel efficiency alone is not enough. We need alternative solutions and with this test, NORDEN has shown a viable method towards reaching these targets.

“Now that we have proven CO2 neutral transport as a viable alternative, I am convinced many carbon-conscious customers will demand this type of transport within a foreseeable future.”

NORDEN A/S and GoodFuels Marine will continue working with each other to gain more experience and scale usage of the fuel as an alternative to HFO, ensuring the realisation of the opportunity to offer commercially attractive carbon-neutral transport to meet customers’ demands.

To support this aim, in 2016 GoodFuels founded The GoodShipping Program to further engage cargo owners in the challenge of combatting shipping’s carbon emissions. In September 2018 the Program announced that five shippers had completely offset the carbon emissions of their cargo by refuelling a vessel with marine biofuels.

About GoodFuels Marine
GoodFuels Marine is a Netherland’s based global pioneer in sustainable marine fuels. The company has created a one-stop shop for marine industry customers integrating the entire supply chain for sustainable marine biofuels. From feedstock to tank, GoodFuels Marine’s proposition covers elements of sourcing feedstock and ensuring its 100% sustainability, the production and refining, the global distribution, quality assurance and marketing programs with ports, governments and end clients. GoodFuels Marine has its operations RSB certified.

GoodFuels Marine is part of the GoodNRG Group, which is active under various labels and companies in sales, marketing, trading, R&D and production of truly sustainable fuels for the transport segments for which biofuels is one of the best or only viable long-term alternative. GoodFuels has a partnership with Varo Energy on the distribution and development of speciality blending solutions for Low Carbon Marine fuels for the ARA region. Learn more about GoodFuels at goodfuels.com

About NORDEN A/S
Founded in 1871 Dampskibsselskabet NORDEN A/S is an independent shipping company incorporated in Denmark and listed on Nasdaq Copenhagen. NORDEN operates a mix of owned and chartered tonnage. In dry cargo, NORDEN is active in a number of vessel types and one of the world’s largest operators of Supramax and Panamax vessels. In tankers, NORDEN is active in the Handysize and MR product tanker vessel types operated through the 50% owned Norient Product Pool.

Dec 3, 2018 – This joint statement has been developed between Royal Dutch Shell plc (Shell) and a leadership group of institutional investors on behalf of the global investor initiative: Climate Action 100+ (CA 100+)1. The investor engagement with Shell has been led by Robeco and the Church of England Pensions Board and included representatives of Eumedion (the Dutch platform for institutional investors) and the European Institutional Investors Group on Climate Change (IIGCC)2. APG on behalf of ABP, the Environment Agency Pension Fund (EAPF) and the Universities Superannuation Scheme (USS) have also been active participants.

Introductory comments by the Institutional Investors:

As long-term institutional investors who manage retirement savings and investments for millions of people, we believe climate change to be one of the greatest systemic risks facing society today. We believe comprehensive and effective government policy is necessary to drive change across the global economy. All parts of society have a role to play, not least energy-intensive, publicly listed companies. Any gaps, weaknesses or delays in climate change policies and responses will increase the risk to society’s ability to limit climate change to well below 2°C above pre-industrial levels in accordance with the Paris Agreement on climate change. Failure to act may also increase the cost of adaptation as well as the physical risk posed by climate change to society and our investments.

In 2017, Shell was the first international oil and gas company to introduce an ambition to reduce the Net Carbon Footprint of the energy products it sells, expressed as a carbon intensity measure, taking into account their full lifecycle emissions. These include emissions from its own operations, from the use of the energy products by its customers, as well as those generated by third parties in its supply chains. In developing its Net Carbon Footprint ambition, we believe Shell has taken a significant leadership position within the oil and gas sector. As investors, we are strongly supportive of this approach.

We also note Shell’s other important actions on climate change such as convening the Methane Guiding Principles, announcing a methane emissions intensity target, and the important role the company has played in promoting the implementation of the Taskforce on Climate-related Financial Disclosures (TCFD) recommendations, and in working with the Oil and Gas Preparers Forum and the World Business Council for Sustainable Development (WBCSD) to strengthen the sector’s response in this regard.

As institutional investors and in the context of the Climate Action 100+ initiative, we have engaged with Shell to further build on its ground-breaking Net Carbon Footprint ambition by setting short-term Net Carbon Footprint targets consistent with this ambition and integrating these targets into executive remuneration.

As long-term investors, we share the desire of the Board and management of the company to seek a positive future for the company which is aligned to the goals of the Paris Agreement on climate change. This has been our motivation for this engagement.

Introductory comments by Shell:

Tackling climate change is a multi-generational challenge for society, including businesses, governments and consumers. Shell fully supports the Paris Agreement and believes that society has the scientific and technical knowledge to achieve a world where global warming is limited to well below 2°C.

Shell recognises that it has an important role to play and intends to respond to society’s needs for more and cleaner energy. Shell has three strategic ambitions:

To provide a world-class investment case by growing free cash flow and increasing returns, all built upon a strong financial framework and resilient portfolio;
To thrive through the energy transition by providing the mix of products its customers need as the energy system evolves; and
To sustain its societal licence to operate by being a responsible energy company that operates with care for people and the environment.
Investing in assets that will remain financially resilient in the energy system of the future is key to delivering a world-class investment case to Shell’s investors. Shell aims to grow its business in areas that will be essential in the energy transition, and where it sees growth in demand over the next decades. Shell believes its Net Carbon Footprint ambition has positioned the company well for the future as it underpins and enables the execution of all three of its strategic ambitions.

Shell appreciates the long-term relationship with its institutional investors and acknowledges the positive role that can be played by ongoing engagement. The dialogue with, and input from, investors has always been very constructive. Shell acknowledges and agrees with the importance attached by its investors to the issue of climate change, and also agrees that Shell’s future success is contingent on its ability to effectively navigate the risks and the opportunities presented by climate change.

Joint Statement:
In light of the above, we, the Institutional Investors and Shell, are pleased to jointly announce the steps below that Shell has decided to take in order to demonstrate further industry leadership and alignment with the goals of the Paris Agreement on climate change. As Institutional Investors, we are strongly supportive of the company in taking these important steps.

1. Public short-term Net Carbon Footprint targets
Shell has stated a long-term ambition to reduce its Net Carbon Footprint associated with the energy products it sells in step with society’s drive to meet the goals of the Paris Agreement. Shell aims to reduce its Net Carbon Footprint by around half by 2050 and by around 20% by 2035 as an interim step.

To operationalise this long-term ambition, Shell will start setting specific Net Carbon Footprint targets for shorter-term periods (three or five years). The target will be set each year for the next three- or five-year period. The target setting process will start from 2020 and will run to 2050.

2. Targets linked to remuneration
Taking into account the perspectives gained through its engagements with shareholders and other relevant stakeholders, Shell will incorporate a link between energy transition and long-term remuneration as part of its revised Remuneration Policy, which will be subject to a shareholder vote at the 2020 Annual General Meeting (AGM).

If approved at the AGM, the policy will include a Net Carbon Footprint-related measure, as well as other measures, to have a balance of leading and lagging performance metrics over a three-or five-year performance period. The measures for each performance period will be set on an annual rolling basis at the time of the award and will be subject to the annual remuneration target-setting process as well as to the final plan design. The measures and targets will evolve as time progresses over the years to 2050.

The final plan design is being discussed with shareholders, including details relating to the appropriate remuneration structure and appropriate measures and metrics.

3. Review of progress
On an annual basis, Shell will publish an update on its progress towards lowering its Net Carbon Footprint. In the initial years, this disclosure will be made in the Sustainability Report, but with a commitment, in line with TCFD best practice, to integrate this into the Annual Report and Form 20-F as appropriate.

Shell will seek third-party assurance of its reported Net Carbon Footprint and assurance statements will be published on the Shell website. Shell will also continue to work closely with reputable institutions, such as the Transition Pathway Initiative (TPI), to help in their assessment of Shell’s progress.

Every five years, Shell will review the updated Nationally Determined Contributions (NDCs) in line with the Paris Agreement mechanism, the updated scenarios on decarbonisation trajectories and any other developments to assess societal progress in the energy transition. The outcome of this review will be used to calibrate Shell’s ambition and pace of change in line with that of society. The first such review is currently anticipated to take place after 2022.

4. Alignment with the TCFD recommendations
Shell has been an early supporter of the TCFD and will continue to support and promote the implementation of respective recommendations.

Shell will continue to disclose at relevant intervals in line with the TCFD recommendations. This includes the disclosure of its metrics and targets used to assess and manage relevant climate-related risks and opportunities where such information is material.

During Management Day 2017, Shell disclosed potential ranges of developments in parts of its existing portfolio to achieve the NCF ambition. Shell will provide transparent and relevant updates through future Shell Energy Transition reports (or any related disclosure) as Shell’s strategy evolves.

5. Corporate climate lobbying
Shell acknowledges the “IIGCC Investor Expectations on Corporate Climate Lobbying” and recognises the importance of ensuring that its membership in relevant trade associations does not undermine its support for the objectives of the Paris Agreement on climate change.

Shell is undertaking a review of these memberships to assess alignment with the company’s stated positions. The result of this review will be made public in Q1 2019.

Shell will continue to track and provide information about its trade association activities on climate change-related topics, areas of misalignment and the actions taken in that regard.
1 Climate Action 100+

Climate Action 100+ is a five-year initiative led by investors to engage systemically important greenhouse gas emitters and other companies across the global economy that have significant opportunities to drive the clean energy transition and help achieve the goals of the Paris Agreement. To date, 310 investors with more than USD $32 trillion in assets under management have signed on to the initiative.

2 Institutional Investors Group on Climate Change (IIGCC)

The IIGCC is a network of nearly 150 members, including nine of the 10 largest pension funds and asset managers in Europe, who represent over €21 Trillion in assets and take a pro-active approach to managing risks and opportunities related to climate change. IIGCC offers opportunities to deepen investor understanding of climate risks and opportunities to ensure that these are reflected in investment practices which will preserve and enhance long-term investment value.

IRVING, Texas–ExxonMobil has increased its holdings in Brazil’s pre-salt basins after it won the Titã exploration block with co-venturer Qatar Petroleum during Brazil’s 5th pre-salt bid round.

The block awarded added more than 71,500 net acres to the ExxonMobil portfolio, expanding the company’s total position in the country to approximately 2.3 million net acres.

“With the acquisition of this block, we continue to increase our holdings in Brazil’s pre-salt basins, which are high-quality opportunities that enhance ExxonMobil’s global portfolio,” said Steve Greenlee, president of ExxonMobil Exploration Company. “These resources will benefit from ExxonMobil’s considerable capabilities, which we will employ as we explore and develop them with our co-venturers and the government.”

Equity interest in the block will be 64 percent for ExxonMobil and 36 percent for Qatar Petroleum. ExxonMobil will be the operator.

Through the remainder of 2018 and into 2019, ExxonMobil will continue to obtain 3-D seismic coverage, as well as continue to progress work on regulatory requirements for exploration drilling by 2020. Development work is also ongoing in the Equinor-operated Carcara field, which contains an estimated recoverable resource of more than 2 billion barrels of high-quality oil.

ExxonMobil subsidiary ExxonMobil Exploração Brasil Ltda. has interests in a total of 26 blocks offshore Brazil and is operator of 66 percent of its net acreage. The company has had business activities in Brazil for more than 100 years and has about 1,300 employees in the country across its upstream, chemical and business service center operations.

About ExxonMobil
ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is the largest refiner and marketer of petroleum products, and its chemical company is one of the largest in the world. For more information, visit www.exxonmobil.com or follow us on Twitter www.twitter.com/exxonmobil.

Having evaluated the different options for Maersk Drilling, A.P. Moller – Maersk has concluded that listing Maersk Drilling as a standalone company presents the most optimal and long-term prospects for its shareholders, offering them the possibility to participate in the value creation opportunity of a globally leading pure play offshore drilling company with long-term development prospects.

The process has been initiated to ensure that Maersk Drilling is operationally and organisationally ready for a listing in 2019. As part of the preparation, debt financing of USD 1.5bn from a consortium of international banks has been secured for Maersk Drilling to ensure a strong capital structure after a listing. Further details for a listing will be announced at a later stage.

Separation of the oil & oil related businesses
The decision on the future of Maersk Drilling marks a milestone in the business transformation of A.P. Moller – Maersk towards becoming an integrated transport & logistics company as announced on 22 September 2016.

The target was set to find new viable solutions for the oil and oil related businesses within 24 months. During the past two years solutions for Maersk Oil and Maersk Tankers have been found and today the plan to list Maersk Drilling is announced.

For Maersk Supply Service, the pursuit of a solution will continue. However due to challenging markets, the timing for defining a solution is difficult to predict.

Chairman of the A.P. Moller – Maersk Board of Directors, Jim Hageman Snabe says:

“The Maersk Drilling team has done a remarkable job operating the business at a time of high uncertainty and is well positioned to become a successful company on Nasdaq Copenhagen. The announcement of the intention to list Maersk Drilling completes the decision process on the structural solutions for the major oil and oil related businesses. Yet another important step in delivering on the strategy.”

Capital structure and proceeds from the oil & oil related businesses
A.P. Moller – Maersk remains committed to maintaining its investment grade rating which is demonstrated by increased capital discipline over the last two years combined with maintaining a high financial flexibility.

Net cash proceeds to A.P. Moller-Maersk from separation of Maersk Oil, Maersk Tankers and now expected Maersk Drilling is around USD 5bn. Maersk Drilling’s separate financing is expected to release cash proceeds of around USD 1.2bn to A.P. Moller – Maersk.

In addition, A.P. Moller-Maersk sold Total S.A. shares for an aggregated amount of around USD 1.2bn during July 2018. This represents the increase in value since signing of the sale of Maersk Oil in August 2017. A.P. Moller – Maersk retains 78.3 million shares in Total S.A. with a current aggregated value of around USD 5bn.

Subject to maintaining investment grade rating it is now expected that:

Maersk Drilling will be demerged via a listing in 2019 with distribution of Maersk Drilling shares to A.P. Moller – Maersk’s shareholders
Following the demerger of Maersk Drilling a material part of the remaining Total S.A. shares will be distributed to A.P. Moller – Maersk’s shareholders in cash dividends, share buy-backs or as a distribution of the Total S.A shares directly
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Growing, digitizing and integrating across transport and logistics
The overall transport and logistics business has grown significantly over the last two years – both organically and inorganically through the acquisition of Hamburg Süd. A turnover close to USD 40bn is expected for 2018, equaling an increase of almost 50 percent since 2016. The non-Ocean business is as planned growing organically at a higher pace than the Ocean business.

Synergies are being realised as expected and the business is on track to deliver around USD 1bn by end 2019 from integration of Hamburg Süd and increased collaboration across the transport and logistics business.

“With the decision made on Maersk Drilling, A.P. Moller – Maersk can stay focused on transitioning into an integrated transport and logistics company and developing solutions to meet our customers end-to-end supply chain management needs. New value adding services as well as customer experience are improving continuously based on digital solutions. We will continue to grow revenue with a specific focus on non-Ocean revenue and at the same time improve our current unsatisfactory level of profitability,” says CEO of A.P. Moller – Maersk, Søren Skou.

Chairman of the A.P. Moller – Maersk Board of Directors, Jim Hageman Snabe continues:

“The Board initiated the fundamental business transformation of A.P. Moller – Maersk almost two years ago. This is a massive undertaking touching all parts of our company globally and I would like to thank the management for progressing on many strategic efforts in parallel.”

ABOUT
A.P. Moller – Maersk is an integrated container logistics company working to connect and simplify its customers’ supply chains. As the global leader in shipping services, the company operates in 130 countries and employs roughly 76,000 people.

With simple end-to-end offering of products and digital services, seamless customer engagement and a superior end-to-end delivery network, Maersk enables its customers to trade and grow by transporting goods anywhere – all over the world.

HOUSTON–ExxonMobil said today that operations have commenced at its new 1.5 million ton-per-year ethane cracker at the company’s integrated Baytown chemical and refining complex.

The new cracker, part of ExxonMobil’s Growing the Gulf initiative, will provide ethylene feedstock to new performance polyethylene lines at the company’s Mont Belvieu plastics plant, which began production in the fall of 2017. The Mont Belvieu plant is one of the largest polyethylene plants in the world, with manufacturing capacity of about 1.3 million tons per year.

“Our new ethane cracker will help us meet the growing global demand for high performance plastic products that deliver key sustainability benefits such as lighter packaging weight, lower energy consumption and reduced emissions, further enhancing our competitiveness worldwide,” said John Verity, president of ExxonMobil Chemical Company. “The abundance of domestically produced oil and natural gas has reduced energy costs and created new sources of feedstock for U.S. Gulf refining and chemical manufacturing while creating jobs and expanding economic activity in the area.”

Together, the Baytown ethane cracker and Mont Belvieu plant represent ExxonMobil’s largest chemical investment in the U.S. to date. Operations associated with the Baytown and Mont Belvieu projects are expected to increase regional economic activity by roughly $870 million per year and generate more than $90 million per year in local tax revenues. The two projects have created more than 10,000 construction jobs, 4,000 jobs in nearby communities and 350 permanent positions.

ExxonMobil is strategically investing in new refining and chemical-manufacturing projects in the U.S. Gulf Coast region to expand its manufacturing and export capacity. The company’s more than $20 billion Growing the Gulf expansion program consists of major chemical, refining, lubricant and liquefied natural gas projects at proposed new and existing facilities along the Texas and Louisiana coasts. Investments began in 2013 and are expected to continue through at least 2022.

With the increase in chemical manufacturing and the industry’s need for more skilled workers, ExxonMobil has contributed more than $2 million over the last five years to the Community College Petrochemical Initiative, a training program offered by nine Houston-area community colleges to provide technical skills to high school graduates, returning military veterans and others.

About ExxonMobil
ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. For more information, visit www.exxonmobil.com or follow us on Twitter at www.twitter.com/exxonmobil.

Riyadh, Saudi Arabia : The Saudi Arabian Mining Company (Ma’aden) and GE today signed a strategic Memorandum of Understanding to explore opportunities to deploy GE’s industry leading digital solutions across Ma’aden’s diverse mining operations, including sites focused on gold, copper, aluminum, and phosphate. GE will provide Ma’aden with digital transformation advisory and applications, as well as leadership and training opportunities for Ma’aden’s employees across the Kingdom.

To maintain its world leading competitive position across a number of commodities, Ma’aden is pursuing a number of partnerships in order to capture the opportunities found in digitization and innovation, and will invest in the application of pioneering technologies in its operations in the Kingdom in order to remain ahead of the competition and reinforce the company as a global mining leader. GE’s digital mining solutions will look at specific areas within Ma’aden including solutions that make adaptations for improving ore grades; reduce fuel and energy costs and usage; improve equipment reliability and availability; reduce maintenance costs; and increase productivity and efficiency across operations.

Darren Davis, Ma’aden Acting President & CEO, said of the partnership, “The Kingdom of Saudi Arabia has high aspirations for the deployment of new technology and the digitization of industrial landscape in the country. Ma’aden is committed to championing the responsible development of the mining sector as a major pillar of the Saudi economy and digitalization, as part of the fourth industrial revolution, will be key to ensuring we achieve our goal of becoming a ‘sustainable mining champion’. This initiative will unlock the next wave of significant value creation and increase our competitiveness and sustainability. Our partnership with GE is an important step and we look forward to working together to develop and utilize new digital solutions for our industry.”

Bill Ruh, President & CEO, GE Digital continued, saying, “We are partnering with organizations across heavy industries around the world to bring digital solutions to their operations. The scale and impact of organizations such as Ma’aden is enormous, and we know that the optimization and increases in efficiency will have a major impact on the company and the country. By working together to develop solutions that are tailored for the sector and environment in which they will operate, we can ensure truly positive outcomes.”

IRVING, Texas & GEORGETOWN, Guyana–ExxonMobil Foundation said today that it will contribute US$10 million to a new collaboration with Conservation International and the University of Guyana to train Guyanese for sustainable job opportunities and to expand community-supported conservation.

The investment is also intended to support Guyana’s Green State Development Plan, the country’s 15-year development plan that aims, among other things, to diversify Guyana’s economy and balance economic growth with the sustainable management and conservation of the country’s ecosystems. The ExxonMobil Foundation will provide the investment over five years.

Initial grant money will fund a feasibility study driven by Conservation International, through its affiliate, Conservation International Guyana, to further define the details of the program. Once defined, Conservation International Guyana and the University of Guyana will deliver the education, training, research and retention programs that will help ensure that economic growth reinforces Guyana’s environmental development goals.

The investment is also intended to expand conservation areas in the Rupununi Wetlands, aid mangrove restoration and management and support improvements to community-based fishing on Guyana’s coast, a sector the government of Guyana has identified as critically important to the wellbeing of the Guyanese people, and support the work of the University of Guyana’s Greening Research and Innovation Centres.

“This partnership will support the highest conservation priorities for the country as well as education and training for sustainable employment,” said Kevin Murphy, president of the ExxonMobil Foundation. “It reinforces the government’s objectives as outlined in its Green State Development Strategy and demonstrates the value we place on our long-term relationship with the citizens of Guyana.”

“Guyana stands at a critical crossroads in its development,” said Jennifer Morris, president of Conservation International. “By investing in both people and nature, this partnership will play an important part in helping Guyana execute its vision for a green future.”

“A central feature of Guyana’s development plans is its Green State Development Strategy which envisions a commitment to a green economy, sustainable development and protection of its forests and fresh water resources aligned with the UN’s 2030 Sustainable Development Goals,” said Professor Nigel E. Harris, chairman of the University of Guyana Council. “Funding support for a collaborative effort between Guyana’s leading university, Conservation International and ExxonMobil Foundation promises a critical opportunity to build relevant teaching, research and outreach capacity at our university that is necessary to underpin Guyana’s 2030 Vision for an inclusive, green and prosperous state.”

At this stage, Conservation International anticipates that training will be focused on environmental innovation and sustainability, and on entrepreneurship in nature-based sectors. Conservation International will tap its partnerships with key international universities such as Arizona State University in the United States to help develop the programs.

Conservation International is the grantee and the University of Guyana a key beneficiary. Conservation International, with over 20 years’ experience in Guyana, will take the lead in managing project objectives and implementation, including success measures as well as financial and reporting requirements of this multi-year partnership. Conservation International has been working in Guyana with over 50 communities to protect nearly 3 million acres of indigenous lands while also improving livelihoods.

ExxonMobil is placing an emphasis on supporting local priorities, including business and employment opportunities as well as broader community programs in Guyana. The company has spent about US$39 million with local suppliers in Guyana through 2017 and first quarter 2018. Approximately 68 percent of ExxonMobil’s current in-country employees are Guyanese.

About the ExxonMobil Foundation
The ExxonMobil Foundation is the primary philanthropic arm of Exxon Mobil Corporation (NYSE:XOM) in the United States. The foundation and the corporation engage in a range of philanthropic activities that advance education, with a focus on math and science in the United States, promote women as catalysts for economic development and combat malaria. In 2017, the ExxonMobil Foundation, together with Exxon Mobil Corporation, its divisions and affiliates along with employees and retirees, provided $204 million in contributions worldwide.

About ExxonMobil
ExxonMobil, the largest publicly traded international energy company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil is a global leader in LNG project execution and holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. For more information, visit www.exxonmobil.com or follow us on Twitter www.twitter.com/exxonmobil. Esso Exploration and Production Guyana Limited is the affiliate in Guyana.

About Conservation International
Conservation International uses science, policy and partnerships to protect the nature that people rely on for food, fresh water and livelihoods. Founded in 1987, Conservation International works in more than 30 countries on six continents to ensure a healthy, prosperous planet that supports us all. Learn more about Conservation International, the groundbreaking “Nature Is Speaking” campaign and its series of virtual reality projects: “My Africa”, “Under the Canopy” and “ Valen’s Reef ”. Follow Conservation International’s work on our Human Nature blog, Facebook, Twitter, Instagram and YouTube.

About University of Guyana
The University of Guyana (UG) was established by act of parliament in 1963. It is the country’s leading tertiary institution and Guyana’s only national university. With a current enrollment of some 8,000 students, UG has graduated more than 40,000 students who have gone on to successful careers locally, regionally and internationally. Over 65 percent of its graduates are absorbed in the local workforce. The university is also a major contributor to the national economy and to business and industry. UG expanded in 2000 with the addition of the Tain Campus. It now offers more than 90 undergraduate and post-graduate programs including engineering, environmental studies, forestry, urban planning and management, tourism studies, education, creative arts, economics, law, medicine, optometry and nursing. Several online programs are available and UG also offers extra-mural classes at four locations across Guyana through its Institute of Distance and Continuing Education. UG also offers the opportunity for student engagement in debating, sports, and cultural, religious and professional activities. Visit www.uog.edu.gy.