The year 2015 was a particularly challenging one for our industry. Strategic decisions taken the past few years, including a corporate transformation founded on capital efficiency, innovation, operational excellence, and downstream integration, have placed the company in a position of strength to face these challenges. The positive results of these strategic decisions are reflected in the company’s achievements, which are detailed in the company’s 2015 Annual Review, released in May 2016.
The successes highlighted in the Annual Review reflect our unwavering dedication to become the world’s leading integrated energy and chemicals company.
Collectively, we responded to the unsettled business climate on numerous fronts, optimizing capital expenditures, deferring low-priority projects, and lowering our direct controllable costs — without diminishing our determination to deliver on our strategic vision.