ExxonMobil Signs Agreement to Strengthen Collaboration with PipeChina
November 10th, 2022
- Companies enhance existing cooperation in Chinese downstream oil and gas market
- Future collaboration to focus on utilizing PipeChina’s oil and gas infrastructure, developing low-carbon solutions
- ExxonMobil continues to support China’s growing energy demand and lower-carbon future
SHANGHAI – ExxonMobil signed a strategic cooperation framework agreement with China Oil and Gas Pipeline Network Corporation (PipeChina). The two companies will collaborate on a number of business opportunities, including traditional oil and gas transportation, fuels and lubes, as well as low-carbon solutions development.
“ExxonMobil’s global scale, integration and functional excellence coupled with PipeChina’s open and forward-looking infrastructure planning will help China meet its fast-growing energy demand and goals for carbon neutrality by 2060,” said Koh Tze San, president of ExxonMobil China gas marketing.
Li Tian, general manager of the Marketing Department of PipeChina, said: "The signing of the strategic agreement has laid a solid foundation for the follow-up cooperation between the two parties, and PipeChina will continue to adhere to the principle of ‘openness, transparency and win-win cooperation’, explore internationalization and new business, promote the coordinated development of the oil and gas industry chain, inject new green and low-carbon momentum, and ensure the security of national energy supply.”
ExxonMobil has been actively re-engaged in China’s energy industry since the late 1970s. Through its long-term business presence in China, ExxonMobil continues to help meet China’s energy needs through its products, technologies, partnerships and investments.
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The corporation’s primary businesses - Upstream, Product Solutions and Low Carbon Solutions - provide products that enable modern life, including energy, chemicals, lubricants, and lower-emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants and chemical companies in the world. To learn more, visit exxonmobil.com and the Energy Factor.
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Cautionary Statement
Statements of future events or conditions in this release are forward-looking statements. Actual future results, including project plans, schedules, capacities, production rates, and resource recoveries could differ materially due to: changes in market conditions affecting the oil and gas industry or long-term oil and gas price levels; political or regulatory developments including obtaining necessary regulatory permits; reservoir performance; the outcome of future exploration efforts; timely completion of development and construction projects; technical or operating factors; the outcome of commercial negotiations; unexpected technological breakthroughs or challenges; and other factors cited under the caption “Factors Affecting Future Results” on the Investors page of our website at exxonmobil.com and under Item 1A. Risk Factors in our annual report on Form 10-K.
