ExxonMobil Chief Financial Officer Neil Hanson said at the Barclays Energy and Power Conference on Wednesday that fuel processing is a “bottleneck” in the global energy system, which has enabled refining companies to obtain “greatly increased profit margins.” “Looking at the current energy system as a whole, we believe that supply shocks and bottlenecks are concentrated in the refining process,” Hanson said. ExxonMobil said it was “unexpected” about the size of strategic and commercial crude oil inventories that can be deployed to cope with the worst oil supply disruptions in history.

ExxonMobil Chief Financial Officer Neil Hanson said at the Barclays Energy and Power Conference on Wednesday that fuel processing is a “bottleneck” in the global energy system, which has enabled refining companies to obtain “greatly increased profit margins.” Hanson said, “Looking at the current energy system, we believe that supply shocks and bottlenecks are concentrated in the refining process.” ExxonMobil said it was “unexpected” about the size of strategic and commercial crude oil inventories that can be deployed to cope with the worst oil supply disruptions in history.