Downstream can be the lynchpin to recovery, it was today said.
Speaking to Energy Voice at this year’s ONS, ExxonMobil’s Ayman Ali said downstream served as a robust “pillar” for companies to cling to during the latest market downturn.
“Companies with strong, reliable downstream businesses were the survivors in the this wave of a challenging environment in the industry,” he said.
“I think it was proven with this tough period that downstream is the one of the pillars oil companies need to rely on. It’s better to have diversified portfolio in the business with downstream.”
It’s a market ExxonMobil has earmarked for growth, according to the 21-year company veteran.
“Over the past couple of years, we’ve been doing very well on downstream’s performance, results and growth,” he said.
“We are investing in downstream in both the refinery and lubricants side of the business.
“In years to come I expect similar levels of investments. This is what leading companies do. We invest in the downtime and it always pays off. “
At this year’s ONS, the oil giant launched its latest downstream technology – Mobil Serv Lubricant Analysis.
The technology helps red flag equipment issues before they happen, avoiding costly downtime.
The service uses scan-and-go technology with QR codes, so results can be accessed using a tablet and shared using a cloud-based app.
“We need to always be investing and always be ready for whenever the market goes down, because it will always come back,” Ali said.
“It’s a very lively industry. We’ve been here for long time and we are strong enough to make the right choices.”
