Massive, highly diversified, global operations in the upstream, downstream, and petrochemical sectors A large backlog of major projects, which should increase the company's production through 2017 A disciplined management team that has displayed strong continuity with respect to strategy and philosophy Excellent technical talent and a track record of completing large, complex projects on time Exposure to a volatile and highly cyclical industry Strong profitability and cash flow at most points in the commodity price cycle Conservative financial leverage measures Highly capital-intensive operations Large annual dividend payments and history of share repurchases The negative outlook reflects Standard&Poor's Ratings Services' expectation that projected credit measures for Exxon Mobil Corp.will be weak for the ratings over the next two years.
