First Quarter 2015 Earnings Call Jeff Woodbury Vice President, Investor Relations & Secretary April 30, 2015
Headlines First quarter earnings of 4.9 billion Balanced portfolio delivers solid results in a lower commodity price environment Upstream volumes increased more than 2%, benefiting from new developments Strong Downstream and…
Business Environment Global economic growth continued to moderate in the first quarter U.S. growth slowed Chinas economy decelerated further Growth in Europe and Japan remained weak Crude oil and natural gas prices continued to…
1Q15 Financial Results Earnings 4.9 Earnings Per Share Diluted (dollars) 1.17 Shareholder Distributions 3.9 CAPEX 7.7 Cash Flow from Operations and Asset Sales1 8.5 Cash 5.2 Debt 32.8 Billions of dollars unless specified…
1Q15 Sources and Uses of Funds Cash increased by 0.5B in the first quarter Beginning Cash1 4.7 Earnings 4.9 Depreciation 4.3 8.5 Working Capital / Other (1.2) Proceeds Associated with Asset Sales 0.5 PP&E Adds / Investments and…
Total Earnings 1Q15 vs. 1Q14 Earnings decreased 4.2B due to lower Upstream earnings, partially offset by stronger Downstream results Millions of Dollars 9,100 (4,928) 854 (65) (21) 4,940 1Q14 U/S D/S Chem C&F 1Q15 7
Total Earnings 1Q15 vs. 4Q14 Earnings decreased by 1.6B, reflecting lower Upstream and Chemical earnings, partly offset by stronger Downstream results Millions of Dollars 6,570 (2,613) 1,170 (245) 58 4,940 4Q14 U/S D/S Chem…
Upstream Earnings 1Q15 vs. 1Q14 Earnings decreased 4.9B due to lower realizations, partly offset by favorable volume/mix and tax effects Millions of Dollars 7,783 (5,520) 340 250 2,855 1Q14 Realization Vol/Mix Other…
Upstream Earnings 1Q15 vs. 4Q14 Earnings decreased 2.6B due to lower prices and tax effects, partially offset by higher volumes and lower expenses Millions of Dollars 5,468 (2,370) 260 (500) 2,855 4Q14 Realization…
Downstream Earnings 1Q15 vs. 1Q14 Earnings increased 854M due to stronger refining and marketing margins, partially offset by higher maintenance and unfavorable forex effects Millions of Dollars 1,040 70 (260) 1,667…
Downstream Earnings 1Q15 vs. 4Q14 Earnings increased 1.2B, reflecting higher global refining margins and lower expenses, partly offset by unfavorable volume/mix effects Millions of Dollars 340 1,667 900 (70) 497 4Q14…
Chemical Earnings 1Q15 vs. 1Q14 Earnings decreased 65M as higher margins were more than offset by unfavorable forex and other effects Millions of Dollars 240 30 (340) 1,047 982 1Q14 Margin Vol/Mix Other 1Q15 15
Chemical Earnings 1Q15 vs. 4Q14 Earnings decreased 245M due to lower commodity product margins Millions of Dollars 1,227 (210) 50 (90) 982 4Q14 Margin Vol/Mix Other 1Q15 16
Upstream Projects and Exploration Update Unlocking resource value Adding new production capacity Cold Lake Nabiye ramping up Hadrian South online Kizomba Satellites Phase 2 started up Banyu Urip production now 75 KBD Kearl…
Downstream Strategic Investments Strengthening the portfolio Increasing high-value product yields Completed lube basestock facility expansions in Singapore and Baytown Expanding logistics capability Commissioning Edmonton Rail…
Summary Continued focus on business fundamentals regardless of market conditions Billions of dollars unless specified otherwise 1Q15 Highlights Earnings 4.9 Value of integrated businesses New development production growth…
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