CEO and chairman Darren Woods said the results could be attributed to a mix of non-cash tax and inventory adjustments that happen from time to time. Lower gas prices are also at issue.

ExxonMobil chief executive Darren Woods saw the worth of his total pay package rise by about 19% in 2024, thanks in part to greater stock awards and a sizable leap in the value of his pension.

Darren Woods, Chairman and CEO, Exxon Mobil Corporation speaks at the Milken Conference 2024 Global Conference Sessions at The Beverly Hilton in Beverly Hills, California, U.S., May 6, 2024.