EXHIBIT 99.1

EXXON MOBIL CORPORATION ANNOUNCES ESTIMATED

SECOND QUARTER 2012 RESULTS

EXXONMOBIL'S CHAIRMAN REX W. TILLERSON COMMENTED:

“Second quarter results reflect our ongoing commitment to develop and deliver the energy needed to help meet global demand and underpin economic recovery and growth.

Despite global economic uncertainty, we continue to invest throughout the business cycle taking a long-term view of resource development.

Second quarter earnings of $15.9 billion included a net gain of $7.5 billion associated with divestments and tax-related items.  Excluding these items, second quarter earnings were $8.4 billion.

Capital and exploration expenditures were $9.3 billion in the second quarter and a record $18.2 billion for the first six months of 2012 as we progress our plans to invest about $37 billion per year over the next five years to help meet the global demand for energy.  

The Corporation distributed $7.7 billion to shareholders in the second quarter through dividends and share purchases to reduce shares outstanding.”

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Second Quarter 2012 vs. Second Quarter 2011

Upstream earnings were $8,358 million, down $183 million from the second quarter of 2011.  Lower liquids and U.S. natural gas realizations decreased earnings by $870 million, while lower sales volumes reduced earnings by $330 million.  All other items, including gains on asset sales mainly in Angola, increased earnings by $1.0 billion.

On an oil-equivalent basis, production decreased 5.6% from the second quarter of 2011.  Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, production was essentially flat.

Liquids production totaled 2,208 kbd (thousands of barrels per day), down 143 kbd from the second quarter of 2011.  Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, liquids production was down about 1%, as field decline was mostly offset by lower downtime and ramp-up of Angola and Nigeria projects.

Second quarter natural gas production was 11,661 mcfd (millions of cubic feet per day), down 606 mcfd from 2011.  Excluding the impacts of entitlement volumes and divestments, natural gas production was up about 1%, as higher demand and lower downtime more than offset field decline.

Earnings from U.S. Upstream operations were $678 million, $771 million lower than the second quarter of 2011.  Non-U.S. Upstream earnings were $7,680 million, up $588 million from the prior year.

Downstream earnings of $6,646 million were up $5.3 billion from the second quarter of 2011.  The gain associated with the Japan restructuring contributed $5.3 billion. Improved margins and volume and mix effects increased earnings by $670 million.  All other items, including unfavorable foreign exchange effects, higher operating expenses, and one-time tax items, decreased earnings $670 million.  Petroleum product sales of 6,171 kbd were 160 kbd lower than last year's second quarter.

Earnings from the U.S. Downstream were $834 million, up $100 million from the second quarter of 2011.  Non-U.S. Downstream earnings of $5,812 million were $5,190 million higher than last year.

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Chemical earnings of $1,449 million were $128 million higher than the second quarter of 2011.  The gain associated with the Japan restructuring increased earnings by $630 million, while weaker margins decreased earnings by $150 million.  Volume and mix effects lowered earnings by $100 million.  All other items, mainly unfavorable foreign exchange effects, decreased earnings by $250 million.  Second quarter prime product sales of 5,972 kt (thousands of metric tons) were 209 kt lower than last year's second quarter.

Corporate and financing expenses of $543 million were flat with the second quarter of 2011, as the benefit from the Japan restructuring was offset by one-time tax items.

During the second quarter of 2012, Exxon Mobil Corporation purchased 60 million shares of its common stock for the treasury to reduce the number of shares outstanding at a gross cost of $5.0 billion.  Share purchases to reduce shares outstanding are currently anticipated to equal $5 billion in the third 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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First Half 2012 vs. First Half 2011

Earnings of $25,360 million increased $4,030 million from 2011.  Earnings per share increased 25% to $5.41.  

Upstream earnings were $16,160 million, down $1,056 million from the first half of 2011. Higher liquids realizations, partially offset by lower gas realizations, increased earnings by $80 million.  Lower sales volumes decreased earnings by $1,140 million.  Net gains on asset sales, mainly in Angola, were offset by higher operating expenses and unfavorable tax effects.

On an oil-equivalent basis, production was down 5.5% compared to the same period in 2011.  Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, production was down about 1%.

Liquids production of 2,211 kbd decreased 164 kbd compared with 2011.  Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, liquids production was down about 1%, as field decline was mostly offset by project ramp-up and lower downtime.

Natural gas production of 12,849 mcfd decreased 541 mcfd from 2011.  Excluding the impacts of entitlement volumes and divestments, natural gas production was down about 1%, with field decline partly offset by higher demand and lower downtime.

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Earnings from U.S. Upstream operations for 2012 were $1,688 million, down $1,040 million from 2011.  Earnings outside the U.S. were $14,472 million, essentially flat with the prior year.

Downstream earnings of $8,232 million increased $5,777 million from 2011.  The gain associated with the Japan restructuring contributed $5.3 billion.  Higher margins increased earnings by $610 million, while volume and mix effects increased earnings by $220 million. All other items, including higher operating expenses, one-time tax items, and unfavorable foreign exchange effects, partially offset by other asset management gains, decreased earnings by $360 million.  Petroleum product sales of 6,243 kbd decreased 56 kbd from 2011.

U.S. Downstream earnings were $1,437 million, consistent with 2011.  Non-U.S. Downstream earnings were $6,795 million, an increase of $5,768 million from last year.

Chemical earnings of $2,150 million were $687 million lower than 2011.  The gain associated with the Japan restructuring increased earnings by $630 million, while weaker margins decreased earnings by $750 million.  Lower volumes decreased earnings by $70 million.  All other items, including unfavorable foreign exchange effects, higher operating expenses, and tax items, decreased earnings by $500 million.  Prime product sales of 12,309 kt were down 194 kt from 2011.

Corporate and financing expenses were $1,182 million, flat with the first half of 2011 as the benefit from the Japan restructuring was offset by one-time tax items.

Gross share purchases through the first half of 2012 were $10.7 billion, reducing shares outstanding by 127 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 July 26, 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; resource recoveries; 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 2011 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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