Exxon Mobil expects production to decline by one percent this year. Over the next five years, however, the company expects production to rise by two or three percent per year.
Exxon Mobil is raising the salary of CEO Rex Tillerson by 6 percent, to $2.72 million, on January 1. The oil giant said that Tillerson will also get a $4.59 million bonus.
Exxon Mobil CEO Rex Tillerson says that fears about climate change, drilling, and energy dependence are overblown.
Exxon Mobil’s CEO had a good year in 2011 — compensation valued at $25.2 million. Shareholders did as well, and they’re supporting the oil giant’s pay program.
Exxon Mobil gave its top executive a 17 percent increase in compensation last year, as the oil giant posted one of its most profitable years on record.