ExxonMobil is proud to be a technology leader. We have a long-standing commitment to developing and implementing new technology that is unmatched in our industry. Technology is integrated into all aspects of our business and is critical to our current and future success. In 2006, as in 2005, Exxon Mobil Corporation spent more than $700 million on research and development.

Technological advances create opportunities, allowing us to find and recover more resources, develop resources with less impact on the environment, expand capacity at existing refining and petrochemical sites, and develop premium products to meet customer needs, efficiently and reliably. Our scientists develop technologies to support continued improvements in our daily operations, as well as deliver proprietary breakthroughs to maintain our competitive position.

In addition to our own research and industrial partnerships ExxonMobil is providing $100 million to Stanford University's Global Climate and Energy Project - a major long-term research program that is designed to accelerate the development of commercially viable energy technologies that can dramatically lower GHG emissions on a world-wide scale.