Verizon\u2019s Signal Strength: The Turnaround Call Is Loud and Clear<\/a><\/p>\nWoods also offered a timeline view for normalization once the strait reopens, saying ExxonMobil expects a \u201c1-2-month time lag between the strait opening up and the market seeing normal flow,\u201d due to repositioning ships, working through backlog, and transit time. He added that additional demand could emerge if governments and market participants replenish strategic and commercial inventories, and said some countries may consider establishing strategic reserves if they do not already have them.<\/p>\n
On ExxonMobil\u2019s facilities in the region, Woods said some capacity could return \u201cin a relatively short period of time\u201d once the strait reopens, but noted damaged LNG trains would take longer to repair. He quantified the damaged-train impact at \u201cabout 3% of our global production,\u201d and said QatarEnergy had indicated repairs could take \u201cbetween 3 and 5 years,\u201d with ExxonMobil working to be on the low end of that range.<\/p>\n
Hansen added that beyond the Middle East, ExxonMobil experienced other external impacts during the quarter, including drone attacks in Kazakhstan and a winter storm in the Permian in January. Excluding those external impacts, Hansen said upstream production was up 8% year over year, driven by \u201cadvantaged assets in the Permian and in Guyana.\u201d<\/p>\n
Downstream and chemicals: refinery utilization and feedstock advantages <\/p>\n
Discussing downstream opportunities, Woods said ExxonMobil benefited from maintaining an \u201cadvantaged refining network,\u201d pointing to the Beaumont refinery expansion started up in 2023. Woods said the investment has been \u201cpaid off completely,\u201d and described it as evidence of the company\u2019s conviction in a diversified and advantaged refining footprint.<\/p>\n
Woods said Gulf Coast refineries ran at record utilization rates in the first quarter, and the company accelerated maintenance work to bring units back online sooner where possible. He also emphasized the role of the supply organization and trading team in moving barrels globally to respond to shortages.<\/p>\n
In chemicals, Woods said an industry-margin slide referenced during Q&A reflected the broader macro environment and \u201cdoesn’t reflect our footprint specifically.\u201d He said ExxonMobil is advantaged versus the general market due to growth in performance products and improved manufacturing efficiency. Woods also pointed to a feedstock advantage: with a large U.S. footprint primarily in gas crackers, the company benefits when world prices are set on liquid crackers, particularly if crude remains elevated.<\/p>\n
LNG growth, Qatar repairs, and project milestones <\/p>\n
Woods reiterated ExxonMobil\u2019s constructive long-term view on LNG, while noting the current disruption has tightened the market in the short to medium term. However, he emphasized the company does not make investment decisions based on short-term price calls, instead prioritizing projects that are \u201cadvantaged\u201d and \u201clow cost\u201d across cycles.<\/p>\n
On Golden Pass LNG, Woods said Train 1 achieved first LNG in March. He added that Train 2 is expected to be mechanically complete by the end of this year, and Train 3 is expected to be mechanically complete heading into the second quarter of next year. In prepared remarks earlier in the call, Woods said Train 1 would increase U.S. export capacity by about 5% relative to 2025 U.S. exports, with the facility ultimately increasing current U.S. LNG exports by roughly 15% once the third train is online.<\/p>\n
Woods also said ExxonMobil continues progressing toward final investment decisions on LNG projects in Papua New Guinea and Mozambique, with both expected later this year.<\/p>\n
Addressing contract and repair questions in Qatar, Woods said ExxonMobil\u2019s partnership with QatarEnergy is \u201cas strong as it\u2019s ever been,\u201d and the company is committed to restoring supply \u201cin a construct that ensures that we generate return\u201d on capital. He did not provide specifics on force majeure or contract terms, but said QatarEnergy has historically supported \u201cwin-win solutions.\u201d<\/p>\n
Permian growth, Guyana development, and other strategic themes <\/p>\n
In the Permian, Woods said ExxonMobil intends to continue at its current pace, describing the company as already operating \u201cpretty full speed.\u201d He reiterated the company\u2019s focus on capital efficiency and low cost of supply, and said the company remains optimistic about technology-driven improvements in recovery and efficiency as deployments scale.<\/p>\n
Woods also addressed crude export ban concerns, calling such a policy \u201chugely detrimental\u201d and arguing that restricting exports would lead to reduced production, including associated gas volumes. He said he was encouraged by comments from Secretary Wright recognizing those risks.<\/p>\n
In Guyana, Woods said ExxonMobil delivered record production and continued strong reliability, with Uaru, Whiptail, and Hammerhead under construction and Uaru expected to reach first oil late this year. He also highlighted a company commitment of $100 million over 10 years to support national STEM education in Guyana.<\/p>\n
On Venezuela, Woods described the country as a large heavy-oil resource newly opened more freely to the world, but said investment will depend on an attractive framework and returns. He said ExxonMobil\u2019s heavy-oil expertise\u2014anchored by its Canadian resource base and technology\u2014could position it to contribute if conditions align.<\/p>\n
Woods also discussed low-carbon efforts, noting ExxonMobil began transporting and storing captured CO2 from the New Generation Gas Gathering project, its second startup in less than a year. He said the company plans to start facilities through this year and next with capacity to capture an additional 4 million tons per year of CO2. In response to a question about Gulf Coast power opportunities tied to data centers, Woods said ExxonMobil is not pursuing the utility business, but is exploring supplying low-emissions power using decarbonized natural gas and carbon capture and storage, and said discussions with hyperscalers are ongoing.<\/p>\n
Investor Relations Vice President Jim Chapman closed by noting ExxonMobil expects to publish its 2026 Advancing Climate Solutions report this month and will post the earnings call transcript to its website by early next week. Chapman said the company plans to reconnect with investors at its annual shareholder meeting on May 27.<\/p>\n
About ExxonMobil (NYSE:XOM) <\/p>\n
ExxonMobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.<\/p>\n
ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.<\/p>\n
The article “ExxonMobil Q1 Earnings Call Highlights<\/a>” was originally published by MarketBeat.<\/p>\n","protected":false},"excerpt":{"rendered":"ExxonMobil logo Key Points ExxonMobil showed operational resilience, with higher Permian output, record production in Guyana and first…\n","protected":false},"author":2,"featured_media":422390,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[114,128835,96438,198776,85,46,47,198775,198774],"class_list":["post-422389","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-darren-woods","tag-exxonmobil","tag-global-production","tag-il","tag-israel","tag-middle-east","tag-operational-performance","tag-record-production"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/422389","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=422389"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/422389\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/422390"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=422389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=422389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=422389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![\"ExxonMobil](\"https:\/\/www.newsbeep.com\/il\/wp-content\/uploads\/2026\/05\/d498a18164da682688046c2c35cff6e3.png\")
ExxonMobil logo Key Points <\/p>\n