ExxonMobil with a turnover of NOK 75.7 billion in 2006
The sales income of ExxonMobil (1) in Norway was NOK 75.7 billion in 2006 – an increase of 16% from 2005. The high oil prices as well as higher gas prices were the main causes of the increase.
10% of Norwegian oil production
In 2006, the company produced approximately 451,000 barrels oil equivalent per day – which is equal to approximately 10% 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 36 billion paid in taxes
The operating profits were NOK 47.2 billion – about 18% higher than in 2005. ExxonMobil has charged the accounts with nearly NOK 36 billion in taxes in 2006. Profits for 2006 were NOK 12.1 billion – approximately NOK 1.8 billion higher than in the previous year.
NOK 6 billion invested in 2006
The investments in 2006 were NOK 6 billion. Exploration and Production represented more than 90% of the investments. Over the last 15 years, the company has invested close to NOK 90 billion in Norway.
ExxonMobil drilled the so called Kogge well in PL315 to a record depth of 5,881 meters in 2006, but the well unfortunately turned out to be a dry hole. The company is continously working with new exploration prospects – both own operated and operated by others.
Capactiy utilization at the refinery higher than ever
The general refinery margins were lower in 2006 compared with the previous year. The capacity utilization at the refinery was, however, higher than ever, and this compensated for the low margins. About two thirds of the produced petroleum products were sold in the international market for petroleum products.
Strong increase in the sales of autodiesel, a strengthened market position within marine fuels, as well as within lubes and specialty products
The total Norwegian sales of transportation fuels increased by 2.6% compared to 2005, and the sale of autodiesel increased by as much as 8.4%. Esso’s sales followed the same trend. The diesel sales, however, showed an even stronger increase, increasing by 11.7% compared to 2005. The company built 4 new On the Run stations in 2006, the number of which being 43 over the eastern part of Norway. The company has started planning investments in new gas stations in other parts of the country as well.
Esso strengthened is market position within marine fuels in 2006, while the total demand within this business segment showed little change compared to 2005. The total volume sales of Esso and Mobil lubes and specialty products increased by as much as 28% in 2006, which resulted in the market share increasing to 27%.
(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:
Årsberetning ExxonMobil Exploration Production Norway AS 2006
Årsberetning Esso Norge AS 2006
Årsberetning ExxonMobil Production Norway Inc. 2006
