This summary is based on the third quarter fiscal 2007 earnings call conducted by Exxon Mobil (XOM: chart) on November 1, 2007.

Management:

Vice President Investor Relations and Secretary: Henry Hubble

Key Investors Issues

- EPS were $1.70 a share compared to $1.77 a share last year.
- Net income was $9.41 billion compared to $10.49 billion in the year-ago third quarter.
- Revenue and other income rose to $102.3 billion from $99.6 billion a year ago.

Third Quarter Highlights

Net income was $9,410 million.

- Cash flow from operations and asset sales was approximately $15.8 billion, including asset sales of $700 million.
- Spending on capital and exploration projects was $5.4 billion.
- Excluding the impact of entitlements, divestments, OPEC quota effects and Venezuela, production on an oil-equivalent basis increased by 3%.

ExxonMobil announced plans to construct a second world-scale steam cracker complex in Singapore.

In addition to the one million tons-per-year ethylene steam cracker, the new complex will include polyethylene, polypropylene, specialty elastomers and aromatics extraction units. The project, which will be integrated with existing facilities, will employ ExxonMobil’s latest proprietary technologies and enhance ability to meet increasing demand in the region. Start-up is expected in early 2011.

Upstream earnings were $6,299 million, down $194 million from the third quarter of 2006 primarily reflecting lower natural gas realizations and higher operating expenses, mostly offset by higher crude oil realizations.

On an oil-equivalent basis, production decreased by 2% from the third quarter of 2006. Excluding the impact of entitlements, divestments, OPEC quota effects and Venezuela, production was up 3%.

Liquids production of 2,536 kbd (thousands of barrels per day) was 111 kbd lower. Mature field decline and reduced entitlements were partly offset by increased production from projects in Africa and Russia. Excluding the impact of entitlements, divestments, OPEC quota effects and Venezuela, liquids production was up 3%.

Third quarter natural gas production was 8,302 mcfd (millions of cubic feet per day), up 163 mcfd from 2006. Increased volume from projects in Qatar was partly offset by the impact of mature field decline. Excluding entitlement and divestment effects, natural gas production increased by 3%.

Earnings from U.S. Upstream operations were $1,196 million, $4 million higher than the third quarter of 2006.

Non-U.S. Upstream earnings were $5,103 million, down $198 million from 2006.

Downstream earnings were $2,001 million, down $737 million from the third quarter of 2006, driven by lower refining and fuels marketing margins.

Petroleum product sales were 7,101 kbd, 201 kbd lower than last year''s third quarter.

- U.S. Downstream earnings were $914 million, down $358 million from the third quarter of 2006.
- Non-U.S. Downstream earnings of $1,087 million were $379 million lower.

Chemical earnings were $1,202 million, down $149 million from the third quarter of 2006 due to lower margins partly offset by favorable tax items.