Mobil Corp. reports financial results.FAIRFAX Fairfax, city (1990 pop. 19,622), historic seat of Fairfax co., NE Va., a residential suburb of Washington, D.C.; inc. 1892, as a city 1961 (at which time it became independent and no longer included in a county). There is some light manufacturing. , Va.--(BUSINESS WIRE)--July 24, 1995--Mobil Corporation (NYSE NYSE See: New York Stock Exchange : MOB) today announced estimated second quarter 1995 operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. of $706 million, up $193 million, or 38%, from the comparable quarter last year. Second quarter special charges of $527 million (including $505 million for the previously announced restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). of worldwide staff support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services , marketing and refining refining, any of various processes for separating impurities from crude or semifinished materials. It includes the finer processes of metallurgy, the fractional distillation of petroleum into its commercial products, and the purifying of cane, beet, and maple sugar operations in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , and refining in Europe Europe (y  r`əp), 6th largest continent, c.4,000,000 sq mi (10,360,000 sq km) including adjacent islands (1992 est. pop. 512,000,000). ) reduced reported net income to $179
million. Last years second quarter reported net income was $198 million
and included special charges of $315 million for North American North Americannamed after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. property writedowns and worldwide Chemical restructuring. Estimated reported earnings per common share for the second quarter of 1995 were $.42 compared with $.46 for the second quarter of 1994. Commenting on second quarter operating income compared with the same quarter last year, Chairman Lucio Lucio is an Italian male given name (Lucius in Latin). It may be refer to: Italian people
In Exploration and Producing, higher worldwide crude oil prices, up more than $2.00/bbl. from last year's depressed Depressed A description of a market, security, or product that is experiencing weak demand and lowering prices. Notes: A depressed market, security, or product implies that prices and volume are low. There are many reasons for a depressed market, security, or product. levels, and lower expenses more than offset the impact of lower natural gas prices in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and the United Kingdom. In Marketing and Refining, improved worldwide operating performance, stronger lube income, and lower expenses more than offset weaker margins overseas." Mr. Noto continued, "This quarter, following completion of comprehensive reviews, we announced plans for the realignment re·a·lign tr.v. re·a·ligned, re·a·lign·ing, re·a·ligns 1. To put back into proper order or alignment. 2. To make new groupings of or working arrangements between. of our worldwide staff support services, and for further restructuring of marketing and refining in the United States. The associated work process streamlining will both improve efficiency and provide a platform for growth. Also, we announced major European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. refining initiatives, including closure of the Woerth refinery in Germany Germany (jûr`mənē), Ger. Deutschland, officially Federal Republic of Germany, republic (2005 est. pop. 82,431,000), 137,699 sq mi (356,733 sq km). and restructuring of our manufacturing base in Northwest For names and places containing the slightly longer word 'northwestern' (or variants), see . Northwest or north west is the ordinal direction halfway between north and west on a compass. It is the opposite of southeast. Europe. In total, these actions should result in a worldwide workforce reduction of over 5,000 positions, lower manufacturing costs in our key U.S. and Northwest European markets, and pre-tax pre-tax adj → anterior al impuesto pre-tax adj → avant impôt(s) pre-tax adj → al lordo d'imposta savings of over $1 billion annually. These steps are expected to substantially improve profitability in segments of our business where returns have been unsatisfactory. In addition, we announced the signing of a letter of intent for the sale of our South Fort Meade phosphate phosphate, salt or ester of phosphoric acid, H3PO4. Because phosphoric acid is tribasic (having three replaceable hydrogen atoms), it forms monophosphate, diphosphate, and triphosphate salts in which one, two, or three of the hydrogens of the mine in Florida Florida, state, United States Florida (flôr`ĭdə, flŏr`–), state in the extreme SE United States. A long, low peninsula between the Atlantic Ocean (E) and the Gulf of Mexico (W), Florida is bordered by Georgia and , consistent with Mobils long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. strategy of focusing investments in our core business areas." Mr. Noto added, "We are also taking advantage of attractive opportunities for growth. For example, we have recently announced: (1) the acquisition of deep water reserves in the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east ; (2) a major discovery offshore Nigeria Nigeria (nījĭr`ēə), officially Federal Republic of Nigeria, republic (2006 provisional pop. 140,003,542), 356,667 sq mi (923,768 sq km), W Africa. , where we are already the second largest producer of oil and condensate condensate, matter in the form of a gas of atoms, molecules, or elementary particles that have been so chilled that their motion is virtually halted and as a consequence they lose their separate identities and merge into a single entity. ; (3) successful bids for exploration rights in the North Sea, both in the Danish sector and the United Kingdom 16th Round; and (4) the acquisition of Elf elf, in Germanic mythology, a type of fairy. Usually represented as tiny people, elves are said to dwell in forests, in the sea, and in the air. Although they can be friendly to man, they are more frequently vengeful and mischievous. Aquitanes service station network in The Netherlands Netherlands (nĕth`ərləndz), Du. Nederland or Koninkrijk der Nederlanden, officially Kingdom of the Netherlands, constitutional monarchy (2005 est. pop. 16,407,000), 15,963 sq mi (41,344 sq km), NW Europe. . Mr. Noto concluded, "Market fundamentals continue to be uncertain and volatile With regard to computer memory, it means "temporary" and not "highly changeable," which is the usual meaning of the word. See volatile memory. 1. (programming) volatile - volatile variable. 2. (storage) volatile - See non-volatile storage. and are likely to remain so in the near term. Worldwide crude oil prices showed strength through the first five months of the year, but retreated re·treat n. 1. a. The act or process of withdrawing, especially from something hazardous, formidable, or unpleasant. b. The process of going backward or receding from a position or condition gained. 2. in June June: see month. . Refining margins have remained weak, and North American natural gas prices have been depressed. Margins in Chemical, which have been very strong this year, are showing some early signs of weakening weak·en tr. & intr.v. weak·ened, weak·en·ing, weak·ens To make or become weak or weaker. weak  en·er n. from the current relatively high levels.
As weve said before, were not going to depend on industry prices and
margins getting better. Therefore, throughout the company, we are
striving to increase shareholder value by getting more from our existing
assets and from investments for growth."COMPARISON OF SECOND QUARTER 1995 WITH SECOND QUARTER 1994 The following comments address operating income of the major business segments during the second quarter of 1995, compared with the same quarter of 1994: o Exploration and Producing income of $375 million was $40 million higher. In the United States, income was $109 million, up $30 million, as higher crude oil prices and lower operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. more than offset significantly lower natural gas prices. International income was $266 million, up $10 million. Higher crude oil and Indonesian LNG LNG (liquefied natural gas): see under natural gas. prices more than offset lower natural gas prices in Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of and the United Kingdom and lower liquids volumes. Crude oil production in Nigeria was lower due to a rupture rupture, in medicine: see hernia. in the export pipeline, which is expected to be repaired by the end of the month. New capacity to be streamed later this year will help mitigate mit·i·gate v. To moderate in force or intensity. mit  i·gation n. this loss in
production.-- Marketing and Refining income of $240 million was $16 million higher. Income in the United States Income in the United States is measured by the United States Department of Commerce either by household or individual. The differences between household and personal income is considerable since 42% of households, the majority of those in the top two quintiles with incomes was $87 million, up $13 million, reflecting lower operating expenses, higher sales volumes, and increased lube income, as well as improved industry margins. These improvements were largely offset by higher costs this year associated with reformulated gasoline gasoline or petrol, light, volatile mixture of hydrocarbons for use in the internal-combustion engine and as an organic solvent, obtained primarily by fractional distillation and "cracking" of petroleum, but also obtained from natural gas, by production. International income was $153 million, up $3 million. Benefits from ongoing business initiatives, including expense savings in Europe, as well as the increased contribution from the Singapore Singapore (sĭng`gəpôr, sĭng`ə–, sĭng'gəpôr`), officially Republic of Singapore, republic (2005 est. pop. 4,426,000), 240 sq mi (625 sq km). refinery upgrade, offset weaker refining margins in all enclaves. In Europe, development of a common business system was completed, which positions us to realize further benefits from using one unified system. -- Chemical income of $186 million was a record quarter. This was up $147 million, reflecting better industry fundamentals in most businesses, particularly polyethylene polyethylene (pŏl'ēĕth`əlēn), widely used plastic. It is a polymer of ethylene, CH2=CH2, having the formula (-CH2-CH2-)n resin resin, any of a class of amorphous solids or semisolids. Resins are found in nature and are chiefly of vegetable origin. They are typically light yellow to dark brown in color; tasteless; odorless or faintly aromatic; translucent or transparent; brittle, fracturing . Income also benefitted from the Singapore petrochemicals complex, and from business initiatives, notably in plastics fabricating and petrochemicals. -- Corporate and Other expense of $22 million was $9 million lower, mainly due to timing of expenses. -- Net Financing Expense of $73 million was $19 million higher, principally reflecting higher average effective interest rates. COMPARISON OF SIX MONTHS 1995 WITH SIX MONTHS 1994 Mobil's estimated first half 1995 reported net income was $815 million, compared with $733 million for the same period of 1994 (excluding the effect of last years $680 million charge for the change in accounting principle related to inventories). First half 1995 net income included special charges of $527 million, primarily for the realignment of worldwide staff support services and restructuring of marketing and refining operations in the United States and Europe. Net special charges of $315 million for North American property writedowns and Chemical restructuring were included in the comparable period of 1994. Excluding special items and the accounting change, first half 1995 operating income of $1,342 million was up $294 million, or 28%, from the comparable period of 1994. This improvement was mainly due to higher Chemical income, up $306 million, reflecting better margins and operating performance. In petroleum operations, income was essentially flat, despite significantly weaker international refining margins and North American natural gas prices, partly offset by stronger worldwide crude oil prices. The net unfavorable impact of these industry fundamentals was wholly offset by benefits from our business initiatives. In particular, expenses in worldwide Marketing and Refining and U.S. Exploration and Producing were lower, and worldwide lube income in Marketing and Refining was stronger. Capital and Exploration Expenditures for the second quarter of 1995 were estimated at $960 million, an increase of $13 million from the comparable period last year. For the first six months of 1995, worldwide capital and exploration expenditures were estimated at $1,778 million, compared with $1,665 million for the year earlier period. Mobil's estimated Return on Average Shareholders' Equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. for the twelve months ended June 30, 1995, was 10.7%, compared with 10.4% for 1994 (excluding the cumulative effect of the change in accounting principle). Estimated Return on Average Capital Employed Capital Employed 1. The total amount of capital used for the acquisition of profits. 2. The value of all the assets employed in a business. 3. Fixed assets plus working capital. 4. Total assets less current liabilities. for the twelve months ended June 30, 1995, was 8.6%, compared with 8.4% for 1994 (excluding the cumulative effect of the change in accounting principle). Mobil's estimated Debt to Capitalization capitalization n. 1) the act of counting anticipated earnings and expenses as capital assets (property, equipment, fixtures) for accounting purposes. 2) the amount of anticipated net earnings which hypothetically can be used for conversion into capital assets. Ratio was 30% at June 30, 1995 and 31% at December December: see month. 31, 1994. Common Stock Dividends were $.925 per share in the second quarter of 1995 and $1.775 per share for the first half of 1995, up 7.5 cents from the comparable periods last year. -0-
Table 1
MOBIL CORPORATION
Second Quarter Six Months
---------------------- ----------------------
1994 1995 Incr/ 1994 1995 Incr/
INCOME ($MM) Act Est (Decr) Act Est (Decr)
------ ------ ------ ------ ------ ------
Petroleum Operations
E&P: United States (64) 57 121 13 139 126
International 214 241 27 472 536 64
------ ------ ------ ------ ------ ------
Total E&P 150 298 148 485 675 190
M&R: United States 39 (17) (56) 100 (17) (117)
International 150 (115) (265) 325 31 (294)
------ ------ ------ ------ ------ ------
Total M&R 189 (132) (321) 425 14 (411)
------ ------ ------ ------ ------ ------
Total Petroleum 339 166 (173) 910 689 (221)
Chemical (76) 170 246 (61) 344 405
Corporate and Other (a) (11) (84) (73) (24) (80) (56)
Net Financing Expense (54) (73) (19) (92) (138) (46)
------ ------ ------ ------ ------ ------
Income Before Change in
Accounting Principle 198 179 (19) 733 815 82
Change in Accounting
Principle (b) - - - (680) - 680
------ ------ ------ ------ ------ ------
Net Income 198 179 (19) 53 815 762
========== ====== ====== ====== ====== ====== ======
COMMON SHARES OUTSTANDING (MM) Average 398.4 395.8 (2.6) 398.3 395.8 (2.5) End of Period ... ... ... 398.3 395.5 (2.8) EARNINGS PER COMMON SHARE BASED ON ($) (c) Before Chg in Acctng Princip 0.46 0.42 (0.04) 1.77 1.99 0.22 Net Income 0.46 0.42 (0.04) 0.06 1.99 1.93
DIVIDENDS
Common Stock
Total Paid ($MM) 339 366 27 677 703 26
Per Share ($) 0.85 0.925 0.075 1.70 1.775 0.075
Preferred Stock ($MM) 14 14 - 29 28 (1)
(a) Includes the results of Real Estate operations, Mining and
Minerals, administrative expenses, and other corporate items.
(b) Reflects the cumulative impact of the change in the method of
applying the lower of cost or market test for crude oil and product
inventories, recognized January 1, 1994.
(c) The earnings per common share calculation is based on income,
less preferred stock dividend requirements, divided by the weighted
Table 2
MOBIL CORPORATION
1994 by Quarter and Year 1995
INCOME ADJUSTED FOR ------------------------------- --------------
SPECIAL ITEMS ($MM) 1Q 2Q 3Q 4Q Year 1Q Act 2Q Est
----- ----- ----- ----- ------ ------ ------
Petroleum Operations
E&P: United States 77 79 92 58 306 82 109
International 258 256 217 287 1,018 295 266
----- ----- ----- ----- ------ ------ ------
Total E&P 335 335 309 345 1,324 377 375
M&R: United States 61 74 84 54 273 - 87
International 175 150 150 216 691 146 153
----- ----- ----- ----- ------ ------ ------
Total M&R 236 224 234 270 964 146 240
----- ----- ----- ----- ------ ------ ------
Total Petroleum 571 559 543 615 2,288 523 615
Chemical 15 39 60 110 224 174 186
Corporate and Other (a) (13) (31) (12) (16) (72) 4 (22)
Net Financing Expense (38) (54) (63) (54) (209) (65) (73)
----- ----- ----- ----- ------ ------ ------
Oper. Income Bef. Special
Items and Change in
Accounting Principle 535 513 528 655 2,231 636 706
Special Items - (315) (25) (132) (472) - (527)
Change in Accounting
Principle (b) (680) - - - (680) - -
----- ----- ----- ----- ------ ------ ------
Net Income (145) 198 503 523 1,079 636 179
========== ===== ===== ===== ===== ====== ====== ======
EARNINGS PER COMMON SHARE
BASED ON: ($) (c)
Oper. Income Bef. Special
Items and Change Accounting
Principle 1.31 1.25 1.29 1.61 5.46 1.57 1.75
Net Income (.40) 0.46 1.23 1.28 2.57 1.57 0.42
(a) Includes the results of Real Estate operations, Mining and
Minerals, administrative expenses, and other corporate items.
(b) Reflects the cumulative impact of the change in the method of
applying the lower of cost or market test for crude oil and product
inventories, recognized January 1, 1994.
(c) The earnings per common share calculation is based on income,
less preferred stock dividend requirements, divided by the weighted
average number of common shares outstanding.
Table 3
MOBIL CORPORATION
1994 by Quarter and Year 1995
SPECIAL ITEMS ------------------------------ --------------
AFFECTING INCOME ($MM)1Q 2Q 3Q 4Q Year 1Q Act 2Q Est
----- ----- ---- ----- ------- ------ ------
E&P United States
Asset Sales - - - (21) (21) - (22)
Property Writedowns - (143) - (17) (160) - -
Restructuring - - - - - - (30) (a)
E&P International Property Writedowns - (42) (16) - (58) - - Restructuring - - (9) - (9) - (25) (a) M&R United States Restructuring - - - (11) (11) - (104) (b) LIFO/Oth. Inv. Adjustme - - - 14 14 - - Property Writedowns - (35) - - (35) - - M&R International Restructuring - - - (44) (44) - (268) (c) Chemical Restructuring - (115) - - (115) - (16) (a) Environmental Provision - - - (7) (7) - -
Corp/Other
Restructuring - 20 - - 20 - (62) (a)
Property Writedowns - - - (46) (46) - -
----- ----- ---- ----- ------- ------ ------
Total Specials - (315) (25) (132) (472) - (527)
Change in Accounting
Principle (680) - - - (680) - -
----- ----- ---- ----- ------- ------ ------
Total Special/Other
Items (680) (315) (25) (132) (1,152) - (527)
===== ===== ==== ===== ======= ====== ======
(a) Staff redesign project.
(b) Includes $65 million for staff services redesign and $39
million for further restructuring of marketing and refining
operations.
(c) Includes $88 million for staff services redesign and $180
million for European refining.
Table 4
MOBIL CORPORATION
Second Quarter Six Months
------------------------- --------------------------
CAPITAL AND EXPLORATION
EXPENDITURES ($MM) 1994 1995 Incr/ 1994 1995 Incr/
Act Est (Decr) Act Est (Decr)
------- ------- ------- ------- ------- ------
Petroleum Operations
E&P: United States
Exploration
Expenses 25 8 (17) 37 26 (11)
Other Expenditures 141 150 9 240 245 5
------- ------- ------- ------- ------- -------
Total E&P--U.S. 166 158 (8) 277 271 (6)
International
Exploration
Expenses 83 71 (12) 153 148 (5)
Other
Expenditures 280 362 82 481 660 179
------- ------- ------- ------- ------- -----
Total E&P--Int'l 363 433 70 634 808 174
------- ------- ------- ------- ------- ------
Total E&P 529 591 62 911 1,079 168
M&R: United
States 124 115 (9) 241 239 (2)
International 203 181 (22) 305 324 19
------- ------- ------- ------- ------- ------
Total M&R 327 296 (31) 546 563 17
------- ------- ------- ------- ------- ------
Total Petroleum 856 887 31 1,457 1,642 185
Chemical 54 52 (2) 119 92 (27)
Other 37 21 (16) 89 44 (45)
------- ------- ------- ------- ------- ------
Total Mobil
Corporation 947 960 13 1,665 1,778 113
OTHER FINANCIAL DATA ($MM) Total Revenues 16,215 18,849 2,634 31,333 36,476 5,143
Depreciation, Depletion,
and
Amortization 1,034 868 (166) 1,702 1,537 (165)
Income Taxes 402 401 (1) 944 (a) 995 51
AVERAGE U.S. PRICES
Crude ($/BBL) 13.29 15.50 2.21 11.70 14.90 3.20
NGL ($/BBL) 9.65 9.97 0.32 9.57 9.99 0.42
Natural
Gas ($/MCF) 1.94 1.59 (0.35) 2.11 1.53 (0.58)
AVERAGE INT'L. PRICES
Crude ($/BBL) 15.62 18.11 2.49 14.71 17.41 2.70
Natural
Gas ($/MCF) 2.40 2.62 0.22 2.39 2.54 0.15
(a) Excludes income taxes attributable to change in accounting
principle realted to foreign inventories.
Table 5
MOBIL CORPORATION
Second Quarter Six Months
-------------------- -------------------
1994 1995 Incr/ 1994 1995 Incr/
OPERATING HIGHLIGHTS Act Est (Decr) Act Est (Decr)
----- ----- ----- ----- ----- -----
NET PRODUCTION OF LIQUIDS (TBD)
United States 291 285 (6) 293 287 (6)
Canada 55 52 (3) 58 53 (5)
Indonesia 80 76 (4) 83 75 (8)
Nigeria 166 154 (12) 174 145 (29)
Norway 95 93 (2) 97 93 (4)
United Kingdom 72 71 (1) 70 75 5
Other 81 76 (5) 76 76 -
----- ----- ----- ----- ----- -----
Total International 549 522 (27) 558 517 (41)
----- ----- ----- ----- ----- -----
Worldwide 840 807 (33) 851 804 (47)
===== ===== ===== ===== ===== =====
NET PRODUCTION OF NATURAL GAS (MMCFD) United States 1,553 1,528 (25) 1,566 1,511 (55)
Canada 440 398 (42) 452 444 (8)
Germany 332 431 99 411 453 42
Indonesia 1,575 1,487 (88) 1,655 1,569 (86)
United Kingdom 399 513 114 521 622 101
Other 139 125 (14) 157 159 2
----- ----- ----- ----- ----- -----
Total International 2,885 2,954 69 3,196 3,247 51
----- ----- ----- ----- ----- -----
Worldwide 4,438 4,482 44 4,762 4,758 (4)
===== ===== ===== ===== ===== =====
TOTAL NET
PRODUCTION (TBDOE) 1,629 1,604 (25) 1,697 1,650 (47)
===== ===== ===== ===== ===== =====
NATURAL GAS SALES (MMCFD)
United States
Equity 1,898 1,835 (63) 1,938 1,867 (71)
Resale 748 1,644 896 748 1,721 973
----- ----- ----- ----- ----- -----
Total United States 2,646 3,479 833 2,686 3,588 902
International 2,908 3,038 130 3,222 3,334 112
----- ----- ----- ----- ----- -----
Worldwide 5,554 6,517 963 5,908 6,922 1,014
===== ===== ===== ===== ===== =====
Table 6
MOBIL CORPORATION
Second Quarter Six Months
------------------- --------------------
1994 1995 Incr/ 1994 1995 Incr/
OPERATING HIGHLIGHTS Act Est (Decr) Act Est (Decr)
----- ----- ----- ----- ----- -----
REFINERY RUNS (TBD)
Runs for and by Mobil
United States 876 884 8 851 894 43
Europe 433 432 (1) 399 426 27
Pacific Rim 627 659 32 615 669 54
All Other 165 124 (41) 165 130 (35)
----- ----- ----- ----- ----- -----
Total 2,101 2,099 (2) 2,030 2,119 89
Runs for Mobil by Others 21 9 (12) 22 9 (13)
----- ----- ----- ----- ----- -----
Worldwide Runs for Mobil 2,122 2,108 (14) 2,052 2,128 76
===== ===== ===== ===== ===== =====
PETROLEUM PRODUCT SALES (TBD)
United States
Automotive Gasoline
Sales to Trade 530 545 15 512 525 13
Supply/Other Sales 143 192 49 144 191 47
----- ----- ----- ----- ----- -----
Total Automotive Sales 673 737 64 656 716 60
Distillates/Jet Fuel 290 290 - 290 319 29
Other 201 228 27 192 220 28
----- ----- ----- ----- ----- -----
Total United States 1,164 1,255 91 1,138 1,255 117
Europe 809 787 (22) 791 773 (18)
Pacific Rim 755 772 17 753 802 49
All Other 327 271 (56) 314 287 (27)
----- ----- ----- ----- ----- -----
Worldwide 3,055 3,085 30 2,996 3,117 121
===== ===== ===== ===== ===== =====
U.S. CHEMICAL PRODUCTION (MM LBS) Polyethylene 447 436 (11) 878 896 18
CHEMICAL SALES BY PRODUCT CATEGORY ($MM)
Petrochemicals 468 798 330 848 1,549 701
Plastics 476 546 70 882 1,025 143
Chemical Products 25 26 1 46 59 13
----- ----- ----- ----- ----- -----
Total 969 1,370 401 1,776 2,633 857
===== ===== ===== ===== ===== =====
CONTACT: Mobil Corp., Fairfax John Lord or Gail Campbell Campbell, city, United States Campbell, city (1990 pop. 36,048), Santa Clara co., W Calif., in the fertile Santa Clara valley; founded 1885, inc. 1952. Woolley Noun 1. Woolley - English archaeologist who supervised the excavations at Ur (1880-1960) Sir Charles Leonard Woolley, Sir Leonard Woolley , 703/846-2500 |
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