Increase Downstream earnings by…

  1. Upgrading 200 Kbd of fuel oil to higher-quality distillates, lube basestocks, and chemicals by 2025
  2. Growing our industry-leading lube basestock and synthetic lubricant businesses by 2025
  3. Capturing full value-chain benefits of our Permian and U.S. Gulf Coast facilities by 2025

Business overview

Our Downstream business is one of the world’s largest refiners and lubricants manufacturers. Our 22 refineries – 17 of which are co-located with chemical or lubricant facilities – enable us to manufacture higher-value fuels, lubricants, and chemical products more efficiently than our competitors.

We are highgrading our product slate to maximize the value of every molecule. Our long-standing record of technology leadership underpins the development of the products our customers demand.

Our integrated business model across the entire value chain enables us to benefit from lower-cost feedstocks. Our proprietary process and catalyst technologies help convert those feedstocks into the fuels and lubricants marketed under our world-renowned brands:

  • The Exxon logo
  • The Mobil logo
  • The Mobil 1 logo
  • The Esso logo

The full value-chain integration is expected to generate an additional $1 billion in the U.S. Permian alone.

Global Downstream portfolio

Downstream value chains

$5.6 billion

in earnings

20,000 miles

between oil changes using Mobil 1 Annual Protection synthetic lubricant

25%

return on average capital employed

Strategies

  • Maintain best-in-class operational excellence
  • Provide high-quality products and services to our customers
  • Capitalize on integration and maximize value from technology

130% increase in synthetic lubricants sales in the past decade

2 market entries with branded sales in Mexico and Indonesia

2018 start-ups projected to add 100,000 barrels per day of upgraded products

Business environment

By 2040, demand for transportation fuel is expected to increase by nearly 30 percent, driven by commercial transportation in developing countries. Demand for diesel fuel is expected to increase by more than 30 percent, while worldwide gasoline demand is expected to level off, as declining demand for light-duty transportation fuel in developed countries is offset by growth in developing nations.

Lubricant demand is also expected to grow, particularly in Asia. Within the high-value synthetic lubricants sector, where we have a leading market position, demand is expected to outpace industry growth significantly.

We selectively invest in sites and value chains that generate the highest returns. Our integrated business model, world-class assets, and feedstock flexibility have positioned us to be a market leader across the business cycle.

Our integrated Fuels & Lubricants organization provides high-value products and services to our customers – backed by our world-class manufacturing and supply chain – which lead the industry in efficiency. Our commitment to innovation, technology, brand, and sustainability continues to deliver greater value for our customers and shareholders.
Bryan Milton President, ExxonMobil Fuels & Lubricants Company

Increase Downstream earnings by…

  1. Upgrading 200 Kbd of fuel oil to higher-quality distillates, lube basestocks, and chemicals by 2025
  2. Growing our industry-leading lube basestock and synthetic lubricant businesses by 2025
  3. Capturing full value-chain benefits of our Permian and U.S. Gulf Coast facilities by 2025

130% increase in synthetic lubricants sales in the past decade

2 market entries with branded sales in Mexico and Indonesia

2018 start-ups projected to add 100,000 barrels per day of upgraded products

Downstream statistical recap

2017 2016 2015 2014 2013
Earnings (millions of dollars) 5,597 4,201 6,557 3,045 3,449
Refinery throughput (thousands of barrels per day) 4,291 4,269 4,432 4,476 4,585
Petroleum product sales † (thousands of barrels per day) 5,530 5,482 5,754 5,875 5,887
Average capital employed ‡ (millions of dollars) 22,514 21,804 23,253 23,977 24,430
Return on average capital employed ‡ (percent) 24.9 19.3 28.2 12.7 14.1
Capital expenditures ‡ (millions of dollars) 2,524 2,462 2,613 3,034 2,413

Petroleum product sales data reported net of purchases/sales contracts with the same counterparty.

See Frequently used terms.