LNG

ExxonMobil said it was making “great progress” on liquefied natural gas, with the Golden Pass project in Texas on track, and in energy projects around the world that will be critical to achieving its growth plans as it gave an overview of investment and delivery commitments.

Dec 6 (LNGJ) - ExxonMobil said the US major’s compensation committee had approved an increase in the annual salary of its senior executives. Darren. W. Woods, Chairman and Chief Executive, will receive $1,875,000 per year. Kathryn. A. Mikells, Senior Vice President and Chief Financial Officer, sees her raise take her salary to $1,221,000 per year. Neil A. Chapman, Senior Vice President, will get $1,199,000 per year and Jack. P. Williams, Senior Vice President, is to earn $1,210,000 per year.

   The Irving, Texas-based oil and gas company and major LNG player said the all new salary levels would be effective from January 2023, according to the statement filed with the US Securities and Exchange Commission. ExxonMobil commented on the basic salary levels of its top team by saying: “All ExxonMobil executive officers are ‘at will’ employees of the Corporation and do not have employment contracts.”

ExxonMobil Chairman and Chief Executive Darren W. Woods said the US major was still committed to its Mozambique liquefied natural gas project as well as to other ventures amid further delays, while cutting back immediately in US Permian Basin production.

ExxonMobil Corp., the leading US oil major and one of the world’s largest LNG plant stakeholders in Qatar and in countries such as Australia and Papua New Guinea, said it had set a two-year target to reduce natural gas flaring by 25 percent and methane emissions by 15 percent to improve its overall business operations.