Efficiency key amid inevitable price gyrations: Tillerson

摘要

London—ExxonMobil will continue seeking opportunities to add value and create margins amid the inevitable gyrations of the oil price cycle, with even high-cost oil sands projects maintaining their attractiveness, CEO Rex Tillerson said Wednesday. Speaking at the Oil and Money conference in London, Tillerson said a moderate pace of mergers and acquisitions activity in the current low oil price environment was understandable as participants take time to reassess the value of assets, resources and companies. He said the low price environment had not changed ExxonMobil’s criteria for acquisitions.