CLAIM #63951 · Exxon Mobil Corp (XOM) · 2022Q1 earnings call · Apr 29, 2022 · due Dec 31, 2022
“should have 30,000 metric tons in place by the end of this year.”
Darren Woods · CEO
In context
“t for advanced recycling in plastics. And that's what you've seen us do in Baytown with conversion of some of our heavy cracking facilities on the refining side used to recycle waste plastic. And we've got pretty ambitious plans in that space. We like what we see there. It gives products that have all the same attributes as virgin products, but obviously, without the same -- with the ability to recycle the waste. And so we like the molecular recycling, that's where we're focusing. We think we can bring an advantage there with; one, our facilities; but two, our technology; and then three, with our marketing organization with respect to the marketing of those products. So feel generally good about that. We've got plans to drive that recent advanced recycling to 500,000 metric tons by 2026, should have 30,000 metric tons in place by the end of this year. So I think, in total, we like what we see there. The market today is interested in those products and there is a premium out there. So right now, I think that looks pretty attractive. I suspect with time that may -- the market will stabilize, but we think it's going to be a pretty helpful market for some time to come. Operator: Next, we'll go to Jason Gabelman with Cowen Jason Gabelman : I wanted to ask a question about your international gas footprint and the maintenance cadence because it seems like you've mentioned in the slides that gas production is going to be higher than it typically is in 2Q and 3Q, but you do have higher scheduled maintenance. So I'm wondering if any of that maintenance is in the European gas footprint. And then more broadly, if you're seeing in the industry in E”
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SEC filings for XOM ↗ · Claim quote is verbatim from the 2022Q1 earnings call.