SUSTAINABLY GROWING SHAREHOLDER VALUE Create sustainable solutions that improve quality of life and meet societys evolving needs Leading Performance Essential Partner Advantaged Portfolio Innovative Solutions Meaningful Development…
MARKET ENVIRONMENT Crude, natural gas, and refining margins strengthened due to ongoing tight supply / demand balance PRICES / MARGINS Continued tight crude supply with recovering demand 10-year annual range1 Supply uncertainty, low…
FIRST-QUARTER FINANCIAL RESULTS Earnings Structural savings Capex 8.8 billion 5 billion 4.9 billion ex. identified items; higher Upstream versus 2019; on track to exceed 9 consistent with full-year range of realizations and refining…
RESULTS 1Q22 VS. 4Q21 Earnings of 5.5 billion includes 3.4 billion Russia charges; strong Upstream realizations offset by derivative impacts and volume Improved liquids realizations partially offset by unfavorable U/S D/S CHEM C&F…
UPSTREAM PERSPECTIVE Earnings improvement driven by tight supply / demand balance and lower expenses CONTRIBUTING FACTORS TO CHANGE IN EARNINGS Price improvement driven by higher liquids realizations Million USD 2,160 230 Volume…
UPSTREAM VOLUMES Volumes impacted by adverse weather, scheduled maintenance, and lower entitlements CONTRIBUTING FACTORS TO CHANGE IN VOLUMES Weather-related impacts in Canada early in the quarter Koebd Scheduled maintenance in Qatar…
DOWNSTREAM PERSPECTIVE Improved industry margins more than offset by unfavorable derivatives and price timing of trades CONTRIBUTING FACTORS TO CHANGE IN EARNINGS Improved refining margins partly Million USD offset by lower basestocks…
CHEMICAL PERSPECTIVE Strong earnings driven by resilient demand and continued cost reductions, partially offset by lower margins CONTRIBUTING FACTORS TO CHANGE IN EARNINGS Lower margins due to lag in pricing with rising feed and Million…
1Q22 CASH MANAGEMENT Delivering on capital allocation priorities CASH FLOW Distributed 5.8 billion to shareholders, including 3.8 Billion USD billion in dividends and 2.1 billion in share repurchases (4.2) 0.3 First-quarter capex of…
ENHANCED DISCLOSURES Providing increased granularity and transparency to the investment community 12
SECOND-QUARTER 2022 OUTLOOK Higher volumes driven by Permian and Guyana growth, absence of severe weather events, and limited European seasonal gas demand impact Upstream Favorable lag timing expected in LNG pricing Higher scheduled…
EVOLVING OUR MODEL TO STRENGTHEN COMPETITIVENESS Streamlined organization in place and yielding benefits 2022: DELIVERING SOLUTIONS New organization further captures benefits of scale and integration Establishes central ownership…
PRODUCT SOLUTIONS GROWS ADVANTAGES Enables value chain synergies and resource prioritization for better solutions in evolving markets Driving improved prioritization and resource allocation NEW PRODUCT SOLUTIONS BUSINESS ENERGY…
KEY TAKEAWAYS Strong underlying business performance Weather and timing impacts expected to resolve in second quarter Further structural cost reductions Positioned to benefit from stronger refining margins Delivering high-value…
Q&A BAYTOWN ADVANCED RECYCLING
OUTLOOK FOR SECOND-QUARTER 2022 DOWNSTREAM SCHEDULED MAINTENANCE QUARTERLY EARNINGS IMPACT1 UPSTREAM SCHEDULED MAINTENANCE QUARTERLY EARNINGS IMPACT3 Million USD Million USD 900 600 600 300 300 0 0 2021 quarterly 1Q22 2Q22 est.…
SUPPLEMENTAL INFORMATION DEFINITIONS AND NON-GAAP FINANCIAL MEASURE RECONCILIATIONS, CONTINUED Structural savings (also structural cost reductions, structural efficiencies). Structural savings describe decreases in the below expenses as…
SUPPLEMENTAL INFORMATION FREE CASH FLOW1 1Q22 Net cash provided by operating activities (U.S. GAAP) 14,788 Additions to property, plant and equipment (3,911) Proceeds associated with sales of subsidiaries, property, plant and…
SUPPLEMENTAL INFORMATION Weather / day effect, Price entitlement, Scheduled maintenance, and Other volume as used on slide 7, are included below as part of the Volume / Mix category. UPSTREAM EARNINGS FACTOR ANALYSIS1 1Q22 vs. 4Q21…
SUPPLEMENTAL INFORMATION Industry fuels margin, Industry basestocks margin, Unsettled derivatives, and Price timing as used on slide 9, are included below as part of the Margin category. DOWNSTREAM EARNINGS FACTOR ANALYSIS1 1Q22 vs.…
SUPPLEMENTAL INFORMATION Slide 3 Slide 16 1. 560 Koebd refers to March 2022 average net Permian production. 1. To be executed over 20222023. Slide 4 Slide 18 1. 10-year range includes 2010-2019. 1. Estimates based on March margins and…
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