The sales income of ExxonMobil (1) in Norway was NOK 78 billion in 2007 – an increase of 2,5% from 2006.

11% of Norwegian oil and gas production

In 2007, the company produced approximately 436,000 barrels oil equivalent per day – which is equal to approximately 11% of the total Norwegian oil and gas production. Approximately three fourths of the total production are liquids, i.e. crude oil, condensate and NGL (Natural Gas Liquids), while the remainder is gas.

NOK 35 billion paid in taxes

The operating profits were NOK 48.4 billion – about 2.3 % higher than in 2006. ExxonMobil has charged the accounts with NOK 35 billion in taxes in 2007. Profits for 2007 were NOK 15.2 billion – more than NOK 3.1 billion higher than in the previous year.

NOK 6,8 billion invested in 2007

The investments in 2007 were NOK 6.8 billion. Exploration and Production represented more than 90% of the investments. Over the last 15 years, the company has invested NOK 90 billion in Norway.

ExxonMobil participated in 6 of the total 12 discoveries made on the Norwegian shelf in 2007.  The two most important discoveries were Fram North (also named H North) and the Njord Northwest Flank. Common for all the new discoveries is their location near existing infrastructure.

Capactiy utilization at the refinery higher than ever

The general refinery margins in 2007 showed some improvement compared to 2006. The capacity utilization at the refinery was higher than ever. About two thirds of the produced petroleum products were sold in the international market for petroleum products.

Strong increase in the sales of auto diesel, and the first unmanned Esso gasoline stations introduced in the autumn of 2007

The total Norwegian sales of transportation fuels increased by 4.1% in 2007 compared to the previous year.The sale of auto diesel increased by 11.3%, thus increasing its share of the motor fuel market to 60%. Esso’s sales followed the same trend with a 10 per cent increase in diesel sales to an overall share of 61% of total fuel sales.

To take part in the market increase linked to sales via unmanned gasoline stations, the company introduced its first Esso Express stations in the autumn of 2007. Furthermore, the company built two new On the Run stations, making the total number 45 at the end of 2007, mostly located in the eastern part of Norway. The company has started planning investments in new gasoline stations in other parts of the country as well. The company took over the operation of 18 stations, thus preparing to benefit from a more effective chain operation.

Heating oil still playing an important part

Sales of oil in the industrial and heating markets, were reduced by 12% in 2007, primarily due to milder heating seasons. The companies’ share of the market for heating products was further increased to 20%. Oil for heating still plays an important role in the Norwegian energy picture, both regarding supply and the environment. The import of coal power as an incremental power source, leads to four times higher CO2 emissions compared to light heating oils.

(1) ExxonMobil in Norway includes several companies – i.a. ExxonMobil Exploration and Production Norway AS, ExxonMobil Production Norway Inc., Mobil Oil AS, and Esso Norge AS. The figures given in this text are consolidated figures for the four mentioned companies.

Below you find pdf files with the annual reports (in Norwegian) of the three biggest ExxonMobil companies, as well as a link to the main figures of ExxonMobil in Norway:

Årsberetning ExxonMobil Exploration Production Norway AS 2007
Årsberetning Esso Norge AS 2007
Årsberetning ExxonMobil Production Norway Inc. 2007

Here is a link to the main figures for ExxonMobil in Norway