Spring, Texas-based ExxonMobil last week reported a small increase in production in first quarter to 4.6 million boed compared to 4.55 million boed in 2025Q1. Officers said the decline from production of nearly 5 million boed in 2025Q4 reflected disruptions in transportation through Strait of Hormuz during the Middle East conflict. The company’s assets in Middle East represent about 20 percent of its global oil equivalent production.
Darren Woods, chairman and CEO, expects most curtailed production capacity to return relatively quickly once conditions stabilize although some damage will take longer to repair. First production from Exxon’s Golden Pass LNG project was reported at the end of March from Train 1 followed by its first LNG cargo export in April to increase U.S. LNG exports by 5 percent compared to 2025.
Woods said May 1, “This quarter demonstrated that ExxonMobil is a fundamentally stronger company than it was just a few years ago, built to perform through disruption and across market cycles… We have grown advantaged volumes, optimized our operations, reduced structural costs and strengthened our earnings power. The result is a more resilient, lower-cost business grounded in advantaged assets, disciplined capital allocation and execution excellence.”