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2000 Highlights
Earnings were $12.4 billion, an all-time record.
Return on average capital employed was 31.7 percent in 2000 and has averaged 19.3 percent over the past four years.
Profit per oil-equivalent barrel was $7.90.
Total liquids and gas production available for sale increased to 4.3 million oil-equivalent barrels per day, exceeding all competitors.
Proved oil and gas reserve additions totaled 1.8 billion oil-equivalent barrels, replacing 112 percent of reserves produced, excluding asset sales. This is the seventh consecutive year that ExxonMobil has exceeded 100-percent reserves replacement.
New field resource additions exceeded 2.1 billion oil-equivalent barrels, with significant discoveries in Kazakhstan, the deepwater Gulf of Mexico, offshore West Africa, Norway, and on the Northwest Shelf of Australia. Finding costs were $0.65 per oil-equivalent barrel.
Major projects to develop more than 7.3 billion net oil-equivalent barrels of resources are underway, providing a solid basis for future profitable production growth.
Industry Conditions
- World oil demand increased by over 1 million barrels per day in 2000. Oil inventories were at historically low levels throughout the year.
- Oil prices averaged over $28 per barrel in 2000, increasing more than $10 per barrel versus 1999.
- Worldwide natural gas demand increased about 4 percent with continued growth for gas power generation and strong economic growth in the United States, Europe, and Latin America.
- Worldwide natural gas prices increased about 45 percent in 2000.
| STATISTICAL RECAP |
2000 |
|
1999 |
1998 |
1997 |
 |
| Earnings (millions of dollars) |
12,369 |
|
5,886 |
3,352 |
6,905 |
| Liquids production (thousands of barrels per day) |
2,553 |
|
2,517 |
2,502 |
2,527 |
| Natural gas production available for sale (millions of cubic feet per day) |
10,343 |
|
10,308 |
10,617 |
10,894 |
| Proved reserves replacement excluding sales (percent) |
112 |
|
106 |
132 |
138 |
| New field resource additions (millions of oil-equivalent barrels) |
2,120 |
|
1,530 |
1,690 |
1,770 |
| Average capital employed (millions of dollars) |
39,039 |
|
38,863 |
35,139 |
33,001 |
| Return on average capital employed (percent) |
31.7 |
|
15.1 |
9.5 |
20.9 |
| Capital and exploration expenditures (millions of dollars) |
6,899 |
|
8,390 |
9,990 |
8,992 |
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