Page 19 - NorthAmOil Week 21

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NEWS IN BRIEF
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that underpin our business, our long-term plan, and commitment to grow value for shareholders.”
Woods thanked the company’s workforce for quickly adapting and adjusting manufacturing operations to deliver much- needed raw materials to assist medical professionals and first responders fighting COVID-19 on the front lines.
“There is no question that times like these demonstrate the vital role our company and our industry play in modern life,” said Woods. “It has been inspiring to see the actions of
our people who are stepping up to help fight this virus and its effects, all while continuing critical operations.”
ExxonMobil has increased production
of specialty polypropylene – used to make medical gowns and masks – and isopropyl alcohol, the key ingredient in medical-grade hand sanitizer and other disinfectants.
Operations at its Baton Rouge, LA, site were reconfigured to produce, blend, package, and distribute medical-grade hand sanitizer for donation to health care providers and
first responders across the United States.
And it supported development of third-party production of safety equipment that can be
sterilized and worn multiple times to help alleviate shortages.
EXXONMOBIL, May 27, 2020
Chevron discusses business operations at annual stockholders meeting
Chevron Corporation today provided an overview of the company’s work to respond to the COVID-19 pandemic at its 2020 annual meeting of stockholders. This year’s meeting was virtual in place of an in-person event due to safety concerns related to the pandemic.
“Our thoughts are with those affected by COVID-19 and the healthcare workers on the front lines battling to contain the outbreak,” said Michael Wirth, Chevron’s chairman and CEO.
The energy industry’s continued operations are necessary to ensure the security, safety, and health of all communities and critical
to efforts to respond to the pandemic. The company’s biggest challenges are to ensure
safe access to its facilities and continuity
of operations. Chevron is successfully running essential facilities at operational levels necessary to meet current demand. The company is taking strong precautionary measures to reduce the risk of exposure, including screening workers and visitors at these locations.
“We activated our pandemic response plan in January, and have continued to adapt as events have unfolded,” Wirth said. “I am proud of our workers who show up every day to keep energy flowing into the economy.”
Commodity prices have fallen significantly due to the destruction of demand resulting from the COVID-19 pandemic and the over- supply of crude oil. The company expects its financial results will be depressed as long as current market conditions persist.
“Chevron is responding to these unprecedented challenges by making changes to what we can control,” Wirth said. “It’s always good to hear from our stockholders. We hope the meeting today left them with a deeper understanding of how we’ve advanced the business over the past year and our plans for the year ahead.”
CHEVRON, May 27, 2020
Week 21 28•May•2020
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