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ExxonMobil Chemical Stays Flexible

Investments Continue, Despite Downturn

2:47 PM MST | January 16, 2009 | Robert Westervelt

ExxonMobil Chemical says the economic and industry downturns are having little long-term impact on its operations as it continues with an expansion program to boost Asia and Mideast capacity during the next few years. "The broad outline of the conditions we are facing now is not a surprise,” says Stephen D. Pryor, president of ExxonMobil Chemical. “The supply part of the equation was well-known. The extreme to which demand has been hit in late 2008 is clearly a surprise. It is not clear how much of that weakness is fundamental and how much of it is due to people staying on the sidelines."...

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