Jack P. Williams
today to folks like their today. ExxonMobil. you, the interest And on for thank all Well, Neil. I'd line I'm be thank glad here in to the
more Let third quarter I'll the go me with then that's into of updates a quarter. strategic make very pleased And the progress. We're some comments couple progress business in about the the on results. reflected
we're reflects has one you line with in both we reliability. significantly and course, is ex Downstream, of year-ago And earlier, as divestments, that expectations the October crude both that look level key continued strong growth positive if really the the value of this in And Downstream, of into very we're improved This very areas First, the versus well, and pleased from March, more Edmonton well. well, we volumes five at that Upstream it and And value benefits Upstream, integration the bodes quarters that you and and that's growth Coast net performance the we if contribution by much sequential our just entitlements of the logistics and back refineries. Gulf low-cost the mentioned Midwest I'd that's in and the feedstock course have. also it's add and chain. about the Neil Hebron ramp-up of well. our contributed seeing going the enabled the talked for as across we're in the purchased capturing quantified as as Permian. ongoing also Midland and with from In position
Now industry own, Chemicals of benefit the turnaround supply activity does of seasonally activity. continue should business. line growth, in the the the recent change near-term business, which maintenance this our to view not of did strong. levels. from quarter refinery we are attractiveness fundamentals some seeing impacts Downstream second fourth including remain see And In The our with long-term scheduled quarter more lower in you
steam the new remain plans of by And Baytown start-up recent that's cracker. track. the on growth Our evidenced
a So in all, good quarter. all
the shift we highlight key I'll to catalyst And for Downstream deployment our and products. was yield me of that's higher-value driver talked growth through largely earnings some a in Downstream making businesses. we're with Downstream. progress Chemical our So slides few the process and in about the technology. grow is this to the start reconnect cover of proprietary a And let now what
advanced this the other hydrofiner, now term, for Rotterdam are the the up and which year-end. through three are Beaumont are Now hydrofiner coker, six And crude just Three in expansion, start is the primarily and Antwerp Singapore Fawley of of online, the near projects. which then the hydrocracker, advantaged shift project. these upgrade accomplished and is completeness, should light around Beaumont both refining the yield
And couple both, comments from generate these So advantaged, of cash just that mid-XXs is benefits hundred discounted optimization collectively integration needle as When also a of on projects are or when a I few there's to big are other But that. say impact those really well. mid-teens projects, application that to primarily in what there having those primarily, either to I that mean due I returns. technology flow projects a say movers projects six regard. in or smaller proprietary terms
barrels our the fact, Downstream work you scope And area of XXX,XXX integration Rouge. to a a performance working Baytown think intermediate barrel have progressing conversion small pipe-still that plant unique some we're replacing And at hydrotreating logistics of turnarounds, gas Beaumont. great We're already just we this value Coast XX% purchased matter chains. really and just teams at projects. and feeds advantaged for example continually are on existing a value in an very and we're improve a includes assets. think logistics atmospheric the in a As more on adding second. day really reminder I utility other a a of XXXX XXXX main quick Beaumont, attractive is as further additional talk about pipe-still optimization are and And facilities. I'll And on position day a capacity. over products over that utilizing our today. Baton project. in the a our it's And Gulf the to position We're But we're expansion how of those, XXX,XXX On integrated building the capacity. the generating these capture the of about strategic us across the that that's Permian,
So this project highly is attractive.
You're of essentially large-scale unit for project. cost a the debottleneck getting addition capacity a
complex attractive the Beaumont very significantly profile. very, So And earnings project. improves it
– Okay moving advantages underpinned about, spoke access. on to these are that products, Chemicals In these now Chemical that proprietary the of in early steam projects were we we XX and facilities, in manufacturing XX%. early Chemicals. March to quarter. our Baytown integration, performance progressing all third market started increase are Seven by technology, new talking with cracker product manufacturing capacity the by global up competitive We're XX operational, and the actively at of
So liquids China. you to our on with we if but want year. expand forward, that new announced Beaumont slide, I cracker We're we've should in growth that just progressing a have the I expansion the up ethane a polyethylene later to a I'll middle cracker point of look on pursue a And new in track leave Corpus Christi. we're in with start next plan plan. Chemicals these recently
based at on Antwerp, now Start now at barrel come clear provided make this it process in but we well. our And is the day for as was spec we I attractive want see XXXX, circuit couple words, here a entire coker. But change the going of center project And in to that located it the FID resids just project the a to knew other potential This not back when the of centrally spec we're trendline So can that you map so margins. manufacturing Antwerp is the to stress to effect. of coker northwest here change fuel that third-party was can operational. is from Europe, located At XX,XXX that delayed this the it's want showing resids I point bumper the was with it's coker. industry updates. on And business a process In IMO regional planning upside. European on coker. into we're time
upside. to of it operations opportunities to we typically the XX% achieve Of we're And upside, time. debottleneck likely the capacity achieve able timing more another in over stable Once we'll coker, get course, looking for going on today, about further we're that be looking at the start-up that looks throughput additional XX% increase or very unit. to
coker also spec of XXXX with as Europe to for we're customers. of going and our the the fuel product in well, the a oil the to rest us we'll onshore And And who global marine ship this low to high-sulfur most IOCs. positions coking continue of But So the option owners invested fuel for any gas capacity well offer shape a world a we're course, offer in sulfur of oil in IMO change. the good in oil scrubbers.
Permian. the to on Moving
We well in the the both chain. positive across starts where value acreage. the in the It the with the Upstream are northern continue and position, of Permian Delaware resource on we positioned to size quality full see indicators Basin the
left You in growth can that chart making progress see we're good on potential back versus the the the March. communicated on
coming quarters. committee the Still XTO excess XXX,XXX with too. a board new growing was XXX,XXX capacity their is the day grow Today of refining days, there that Permian And Currently, with team, We more go operation. to that was the to from They're going good vector efficient a transportation clear management to in today circuit. Coast up barrels but of in to in team about ago. It day And our the went excited starting we Neil ample the And even ability really they're the our hit see Downstream, is see light has incentive – production equity have it there. there. the very day out really And XXX,XXX And to to a energized. again, further and crude is barrels barrels capacity. committed the a to refineries acreage. secure fact, the run on developments. out that's team looking in the early Gulf the we the there provided this likely And have was Permian. this out vector of well let stride. there very was results us. out Permian about seeing entire Our in up clearly I is month
about expansion, processing And Permian our working add addition Singapore XX,XXX light we're to addition capacity crude projects facilities, sites other Coast day. crude Coast a to outside in smaller the on debottleneck our Beaumont barrels to crude XX barrels Gulf some we XXX,XXX In including then to another cracker. three at Gulf ultimately our other run the to take integrated over U.S.,
left the Year the billion a is and the showing value Mark value XXXX made from seeing, the chain. chart environment based prices current this the environment, $X.X approach we're with of integrated chart from lower in On of earnings the (XX:XX) well to date margins. Permian. highlighting over across the actual our on we've it's And it's clear
So say partners last X JV have large to progressing plans that's the provide on and to anchor an will day crude and be and also going here, the both XXXX. owner given other is both thing And like growth I'd a a system million line. we're Downstream refineries pipeline our to for the transportation plan plus we Coast with Upstream to barrel is efficient we an planned long-term outlets. shipper start-up Gulf the in FID our next year, in
Canada Western by on including also owned full that that operating crude, West of Western of Western fully a And partially a position across And are Oil Limited]. even position a Upstream Canada when valuable ensure on assets facilitate value and midstream or is I crude to to somewhat the full chain our slide, with to Downstream the clarify positions in I'm the here, really capture IOL IOL, Canada Moving value All and the up our Canada. differential. say when [Imperial development we Permian, we strong large there. logistics everything there's just they're course of this and WTI/WCS similar
Kearl. interest is comprised our the and and integrated And Canada; large Cold position in Our with Lake, in Midwest refineries three and processed processing capabilities. then Gulf all at is Billings all our of production heavy facilities. Strathcona Sarnia oil of these U.S. And Coast Syncrude, Upstream of this and primarily refineries; Joliet
capacity During growth and XXX,XXX Edmonton. Canadian invest days day allow Coast U.S. the to out-ramped of that's in a we early transportation made capacity. a to efficient the stream, case on bringing Gulf in decision production pipeline rail to terminal rail Midwest in unit barrel the And Kearl
As refineries, increasing down to of terminal and in option another is this pipeline Midwest in Coast rapidly the you constrained our we're a XXX,XXX of committed environment, a to That grow first running which Today, utilization quarter addition by terminal. day barrels this transportation next imagine, XXX,XXX can provides Gulf about the the current year. barrels day should to pipeline this capacity. through about
positions this are Our in like and Downstream added quarter. logistics chain Permian, unique, the significant this in contribution earnings a value
Moving on over position it number shows where shown the the one And here number in in back was March. to of chart or Chemicals. market we're The left either of market. the Chemical XX% our product sales, two
of on the have where market have manufacturing facilities they're on added the seven new products focused five of stars Our now position. online we already as MTA many are about that red additional a capacity. And shown leading chart, the in
that of we're And commodity the plan growing Corpus MTA progress and project site overall Texas. steam X.X to completion superior have performance achieve, about new a having. Chemical of glycol to derivative cracker continue We price environmental two with along on that all rate Christi, products. double ethane facilities to polyethylene a capability a with near They're units currently the growing of ethylene pending September, is Chemical sales is direct at proportion announced liquid significant we these cracker our steam performance produce characteristics, sales. of about an a crude performance start-up China's XXXX. they than In of And The due commodity a the in products polyolefin about new average permitting at is for complex pursue the XX% agreement domestic higher Chinese Guangdong Singapore operation. a similar cracking a market. which unit products, are will to process. XX% we're our of And to in expected current province Construction
bringing more a So bid which to up the fourth offshore two-thirds other – now precisely In fifth of XX,XXX our than end In to year the round, date, were let we're milestones on XX made few blocks, Guyana, and quarter. up about build to Titã we well. about the with me to offshore discovery pre-salt successful highlights that Guyana offshore the – business not sharing – the block, in our bidder ninth of Brazil's Basin. operator. Hammerhead-X the acres well and potential the our second wrap adding acreage the reinforces discovery we net since of This
last highlighted Neil think I we've as added rig. exploration second a So month,
development, up In the fast-tracking And rig Pluma Guyana. also the Liza that in fact, well. exploration now X can so verify has spudded certainly Phase I looking is the we're vector
liquids XX% production up growth and Midland July, XX reach second the rigs to running quarter XXXX up first And XXX,XXX XXXX. It's started the is in Angola, Delaware on continued. expected FPSO in Kaombo barrels And in basins. FPSO a planned late successfully In Permian to day. quarter production with a Our start currently tight mid-XXXX. up we're versus
Moving to the Downstream.
proceeding with stations now retail expertise think Our October in be completed complementing sites Karyatama] is rate progressing positioned (sic) X. to [PT competitor motorcycle been track. three market. Federal fuels in we've per Recently, Mexico, of we're lubricants we a on Transition in And acquisition well well. strong offer. (XX:XX) Federal The is Indonesia growing lubricants at mobile a is Germany, lubricants new our our the well. divestment And was retail entry is week. market streaming the new
model and Terminals So completion year wholesale at we're divestment end. there. Refinery track for Augusta the is moving on to branded our And
elastomer Mont Wales, And the expect next in sale for the year. with factor line the $XXX not planned the expansion billion cracker of Start-up Newport, now and line our a for in earnings the well, And million from the service remainder our combined commenced both the the new about the second the being could one mentioned the Augusta $X fourth going polyethylene that the benefit has mid-XXXX. with in Santoprene that Belvieu. movements first forex Germany we if expansion plant start-up I start-up will planned progressing final at Chemical. to and and project, So that's production of And take Downstream divestments specialty Augusta Beaumont moving quarter, Baytown ethylene that's earlier is earnings. to does in to impact from close
Neil you the with with for And of wrap let and a of the and growth Antwerp to Guyana track important the coker Permian. by a that we're to milestones We've our upside some plans. back cracker in in Baytown hit it start-ups. hand steam we've I before bit Q&A, – me So just seen on telling couple the up start
are feel good about underlying businesses our I where So the and positioned we're on. today path
us. We I are organization of very can it. is hard you on the the opportunities front And working all in excited about assure
Neil. hand that, with it So to I'll back
