The acquisition of Pioneer Natural Resources Company was completed in May 2024, issuing 545 million shares of ExxonMobil common stock and assuming $5 billion in debt. The acquisition transforms ExxonMobil's upstream portfolio and increases Permian Basin acreage and production capacity.

ExxonMobil continued work on LNG growth projects, including new gas wells in Papua New Guinea, front-end engineering and design for Rovuma LNG in Mozambique, and construction on Golden Pass LNG in the United States.

ExxonMobil divested assets in Nigeria, Argentina, France, and other locations, generating $5.0 billion in proceeds. These divestments reflect a strategy to optimize the asset portfolio and focus on core operations.

The Corporation achieved $12.1 billion in structural cost savings compared to 2019, including $2.4 billion in 2024. These savings are attributed to increased operational efficiencies, workforce reductions, and other cost-saving measures.

ExxonMobil is pursuing a roadmap to achieve net-zero Scope 1 and 2 greenhouse gas emissions from operated assets by 2050, backed by detailed emission-reduction roadmaps.

ExxonMobil is focused on improving operational efficiency through technology integration, cost control, and productivity enhancements, indicating management's commitment to operational excellence.

The oil, gas, and petrochemical businesses are fundamentally commodity businesses, making ExxonMobil's operations and earnings susceptible to changes in commodity prices and margins.

ExxonMobil's results can be adversely affected by political or regulatory developments, including access limitations, restrictions on doing business, and lack of legal certainty in some countries.

Driven by concern over the risks of climate change, governments are adopting regulatory frameworks to reduce greenhouse gas emissions, which could negatively affect ExxonMobil's investment returns and demand for its products.

ExxonMobil faces competition not only from other private firms but also from state-owned companies and alternative energy sources, requiring continuous adaptation and innovation to maintain a competitive edge.

Technology and expertise provided by industry service companies may enhance the competitiveness of firms that may not have the internal resources and capabilities of ExxonMobil.

As ExxonMobil enters new markets in pursuit of lower-emission and other new business opportunities, it will need to compete effectively with established competitors and new market entrants seeking to capitalize on these opportunities.

The Corporation captured $12.1 billion of structural cost savings versus 2019, including $2.4 billion in 2024, through increased operational efficiencies, workforce reductions, and other cost-saving measures.

ExxonMobil applies rigorous management systems and continuous focus on workplace safety and avoiding spills or other adverse environmental events, demonstrating a commitment to operational integrity.

The Corporation employs a robust and actively evolving enterprise risk management system to identify and manage risk across its businesses, indicating a proactive approach to operational challenges.

ExxonMobil has a long-standing commitment to the development of proprietary technology, holding over 8 thousand active patents worldwide at the end of 2024.

ExxonMobil's technology, research, and development organizations must be successful and able to adapt to a changing market, regulatory, and policy environment, including continuous improvement in hydraulic fracturing technology and developing technologies to help reduce greenhouse gas emissions.

To remain competitive, ExxonMobil must also continuously adapt and capture the benefits of new and emerging technologies, including successfully applying advances in the ability to process very large amounts of data to our businesses.

The Corporation expects to continue its share repurchase program with a $20 billion repurchase pace per year through 2026, assuming reasonable market conditions, demonstrating a commitment to returning value to shareholders.

The Upstream capital program is focused on low cost-of-supply opportunities, including continued growth in Guyana and the Permian Basin, as well as LNG expansion opportunities.

The Corporation plans to continue to pursue advantaged growth opportunities and lower-emission investments, targeting emissions reductions in its own operations and those of other companies.

The Company's objective to play a leading role in the energy transition, including the Company's announced ambition ultimately to achieve net zero with respect to Scope 1 and 2 emissions from operations with continued technology development and government policy support.

Government actions intended to reduce greenhouse gas emissions include adoption of cap and trade regimes, carbon taxes, carbon accounting, carbon-based import duties or other trade tariffs, minimum renewable usage requirements, restrictive permitting.

ExxonMobil's 2024 worldwide environmental expenditures for all such preventative and remediation steps, including ExxonMobil's share of equity company expenditures, were $9.0 billion, of which $5.3 billion were included in expenses with the remainder in capital expenditures.

Global electricity demand is expected to increase more than 75 percent from 2023 to 2050, with developing countries likely to account for approximately 80 percent of the increase.

By 2050, global demand for liquid fuels is projected to grow to approximately 110 million oil-equivalent barrels per day, an increase of about 10 percent from 2023.

Global natural gas demand is expected to rise more than 20 percent from 2023 to 2050, with approximately 75 percent of that increase coming from the Asia Pacific region.