EXHIBIT 99.1

EXXON MOBIL CORPORATION ANNOUNCES ESTIMATED

FOURTH QUARTER 2011 RESULTS

EXXONMOBIL'S CHAIRMAN REX W. TILLERSON COMMENTED:

“ExxonMobil recorded strong results while investing at record levels to develop new supplies of energy that are critical to meeting growing world demand, and supporting economic recovery and growth.

Fourth quarter earnings of $9.4 billion were up 2% from the fourth quarter of 2010.  Full year 2011 earnings were $41.1 billion, up 35% from 2010, reflecting higher crude oil and natural gas realizations, improved refining and chemical margins, and gains on asset sales.

Capital and exploration expenditures were a record $36.8 billion in 2011.

Oil-equivalent production was up 1% from 2010.  Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, production was up 4%.

In 2011, the Corporation distributed $29 billion to shareholders through dividends and share purchases to reduce shares outstanding.”

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Fourth Quarter 2011 vs. Fourth Quarter 2010

Upstream earnings were $8,829 million, up $1,349 million from the fourth quarter of 2010. Higher liquids and natural gas realizations increased earnings by $1,990 million. Lower volumes and production mix effects decreased earnings by $1,450 million.  All other items, primarily gains on asset sales, increased earnings by $810 million.

On an oil-equivalent basis, production decreased 9% from the fourth quarter of 2010. Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, production was down 4%.

Liquids production totaled 2,250 kbd (thousands of barrels per day), down 276 kbd from the fourth quarter of 2010.  Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, liquids production was down 3%, mainly due to field decline.

Fourth quarter natural gas production was 13,677 mcfd (millions of cubic feet per day), down 975 mcfd from 2010, as U.S. growth was more than offset by field decline and lower demand in Europe.

Earnings from U.S. Upstream operations were $1,184 million, $133 million lower than the fourth quarter of 2010.  Non-U.S. Upstream earnings were $7,645 million, up $1,482 million from last year.

Downstream earnings of $425 million were down $725 million from the fourth quarter of 2010.  Weaker margins, principally in refining, decreased earnings $740 million. Volume and mix effects decreased earnings by $30 million, while all other items increased earnings by $40 million.  Petroleum product sales of 6,493 kbd were 62 kbd lower than last year's fourth quarter.

Earnings from the U.S. Downstream were $30 million, down $196 million from the fourth quarter of 2010.  Non-U.S. Downstream earnings of $395 million were $529 million lower than last year.

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Chemical earnings of $543 million were $524 million lower than the fourth quarter of 2010.  Weaker margins decreased earnings by $230 million, while lower volumes and mix effects reduced earnings by $40 million.  Other items, mainly unfavorable tax effects, decreased earnings by $250 million.  Fourth quarter prime product sales of 6,271 kt (thousands of metric tons) were 78 kt lower than last year's fourth quarter.

Corporate and financing expenses were $397 million, down $50 million from the same period in 2010.

During the fourth quarter of 2011, Exxon Mobil Corporation purchased 69 million shares of its common stock for the treasury at a gross cost of $5.4 billion.  These purchases included $5 billion to reduce the number of shares outstanding, with the balance used to offset shares issued in conjunction with the company's benefit plans and programs. Share purchases to reduce shares outstanding are currently anticipated to equal $5 billion in the first quarter of 2012.  Purchases may be made in both the open market and through negotiated transactions, and may be increased, decreased or discontinued at any time without prior notice.

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Full Year 2011 vs. Full Year 2010

Earnings of $41,060 million increased $10,600 million from 2010.  Earnings per share increased 35% to $8.42.  

Upstream earnings were $34,439 million, up $10,342 million from 2010.  Higher crude oil and natural gas realizations increased earnings by $10.6 billion, while volume and production mix effects decreased earnings by $2.5 billion. All other items increased earnings by $2.2 billion, driven by higher gains on asset sales of $2.7 billion, partly offset by increased activity.

On an oil-equivalent basis, production was up 1% compared to 2010.  Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, production was up 4%.

Liquids production of 2,312 kbd decreased 110 kbd from 2010.  Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, liquids production was in line with 2010, as higher volumes from Qatar, the U.S., and Iraq offset field decline.

Natural gas production of 13,162 mcfd increased 1,014 mcfd from 2010, driven by additional U.S. unconventional gas volumes and project ramp-ups in Qatar.

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Earnings from U.S. Upstream operations for 2011 were $5,096 million, an increase of $824 million.  Earnings outside the U.S. were $29,343 million, up $9,518 million.

Downstream earnings of $4,459 million increased $892 million from 2010.  Margins, mainly refining, increased earnings by $800 million.  Volume and mix effects improved earnings by $630 million.  All other items, primarily the absence of favorable tax effects and higher expenses, decreased earnings by $540 million.  Petroleum product sales of 6,413 kbd were in line with 2010.

U.S. Downstream earnings were $2,268 million, up $1,498 million from 2010.  Non-U.S. Downstream earnings were $2,191 million, $606 million lower than last year.

Chemical earnings of $4,383 million were down $530 million from 2010.  Stronger margins increased earnings by $260 million, while lower volumes reduced earnings by $180 million.  Other items, including unfavorable tax effects and higher planned maintenance expense, decreased earnings by $610 million.  Prime product sales of 25,006 kt were down 885 kt from 2010.

Corporate and financing expenses were $2,221 million, up $104 million from 2010.

Gross share purchases for 2011 were $22 billion, reducing shares outstanding by 278 million shares.

Estimates of key financial and operating data follow.  

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ExxonMobil will discuss financial and operating results and other matters on a webcast at 10 a.m. Central time on January 31, 2012.  To listen to the event live or in archive, go to our website at exxonmobil.com.

Cautionary statement

Statements relating to future plans, projections, events or conditions are forward-looking statements.  Actual results, including project plans, costs, timing, and capacities; capital and exploration expenditures; and share purchase levels, could differ materially due to factors including: changes in  oil or gas prices or other market or economic conditions affecting the oil and gas industry, including the scope and duration of economic recessions; the outcome of exploration and development efforts; changes in law or government regulation, including tax and environmental requirements; the outcome of commercial negotiations; changes in technical or operating conditions; and other factors discussed under the heading "Factors Affecting Future Results" in the  “Investors” section of our website and in Item 1A of ExxonMobil's 2010  Form 10-K. We assume no duty to update these statements as of any future date.  References to quantities of oil or natural gas may include amounts that we believe will ultimately be produced, but that are not yet classified as “proved reserves” under SEC definitions.

Frequently used terms

Consistent with previous practice, this press release includes both earnings excluding special items and earnings per share excluding special items.  Both are non-GAAP financial measures and are included to help facilitate comparisons of base business performance across periods. Reconciliation to net income attributable to ExxonMobil is shown in Attachment II.  The release also includes cash flow from operations and asset sales.  Because of the regular nature of our asset management and divestment program, we believe it is useful for investors to consider proceeds associated with the sales of subsidiaries, property, plant and equipment, and sales and returns of investments together with cash provided by operating activities when evaluating cash available for investment in the business and financing activities.  A reconciliation to net cash provided by operating activities is shown in Attachment II.  Further information on ExxonMobil's frequently used financial and operating measures and other terms is contained under the heading "Frequently Used Terms" available through the “investors” section of our website at exxonmobil.com.

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Reference to Earnings

References to total corporate earnings mean net income attributable to ExxonMobil (U.S. GAAP) from the income statement.  Unless otherwise indicated, references to earnings, special items, earnings excluding special items, Upstream, Downstream, Chemical and Corporate and Financing segment earnings, and earnings per share are ExxonMobil's share after excluding amounts attributable to noncontrolling interests.

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