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ExxonMobil expects global energy demand to increase by 35% by 2030

March 11/2011

(Arabian Oil and Gas) -- Exxon Mobil Corporation continued to deliver industry-leading results in 2010 through an integrated and disciplined business approach, and remains well-positioned to meet growing long-term global energy and petrochemical demand, the company said on Wednesday in its annual presentation to investment analysts at the New York Stock Exchange.


Rex Tillerson, chairman and chief executive officer, said that ExxonMobil expects global energy demand to increase by 35% by 2030, compared to 2005 levels, and demand for natural gas will make it the fastest growing major energy source. To meet that demand, ExxonMobil will continue to invest through the business cycle.


The volume of oil and natural gas produced by ExxonMobil is expected to grow by between 3-4% in 2011 and by 4-5% per year, on average, between 2009 and 2014. Eleven major upstream project start-ups are planned between 2011 and 2013.


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