ExxonMobil UK boss unable to say how much firm made last year despite Mossmorran closure

ExxonMobil UK chair Paul Greenwood could not give the Scottish Affairs Committee figures about its profits in the House of Commons on Wednesday morning.

Labour MP for West Dunbartonshire Douglas McAllister said it was “extraordinary” that Mr Greenwood could not provide the numbers.

ExxonMobil made more than $30bn globally last year, with $36bn to shareholders. It still plans to close the Fife Ethylene Plant in February next year.

Mr McAllister said: “The line you seem to be adopting this morning very much is that this is all the UK Government’s fault in relation to their policy rather than any bad decisions on the part of ExxonMobil.

“Because I notice that you’ve said that you’ve invested up to £270m of capital on the site, but you’re still operating at a loss of £300m.

“Can I ask what ExxonMobil UK’s overall profits were this year? Not Mossmorran, your overall profits this year.”

Mr Greenwood replied: “We haven’t published our profits for this year but last year we made a loss.”

Mr McAllister then asked what last year’s figure was and Mr Greenwood replied: “I don’t have the figure off the top of my head.”

Mr McAllister said: “You don’t have the figure?”

Mr Greenwood replied: “No, I don’t have that figure off the top of my head.”

Mr McAllister said: “What’s your position at ExxonMobil?”

Mr Greenwood replied: “I’m the UK chair of ExxonMobil.”

Mr McAllister said: “You’re the UK chair of ExxonMobil and you can’t give me the figure.”

Mr Greenwood replied: “I don’t have that figure off the top of my head, no.”

Mr McAllister laughed and said: “You don’t have the figure for last year?”

Mr Greenwood said: “I’m here talking about Fife Ethylene Plant and the fact that we’ve closed it and you’ve clearly tried to find an area which I’m not able to answer.

“I’m sorry. I’m obviously happy to provide that information. But no, I don’t have that information at the top of my head, and I don’t want to mislead this committee in any way.”

Mr McAllister said: “I just wondered what the profit margins were over the last few years across ExxonMobil that would allow you to maintain operations at the Mossmorran site, given the fact that you spoke very well about how good the workers are there and the jobs that you want to save.

“Surely some of those profits could be used for saving it and postponing that decision, particularly given that Christmas is coming up.

“You’re on the board, I would imagine that you and the board are extremely well paid. As are all the top executives across ExxonMobil.

“Surely it’s not just about UK Government policy. Surely you as a company can do more to save that site at Mossmorran.”

Mr Greenwood replied: “Let me answer that piece by piece. First of all, I dispute what you’re saying in several ways.

“The first is that I have made it absolutely clear it is not just about UK Government policy, it’s also about the market environment which we’re working in, and government policy.”

When Mr Greenwood said he didn’t have the firms exact UK figures, Mr McAllister said: “I find that extraordinary.”

Mr Greenwood replied: “I find it extraordinary that it’s a matter of significant concern for you.”

When pushed, he said the company made “around $30bn globally last year”.

He was corrected by committee chair Patricia Ferguson, who said: “$33bn I believe and $36bn went to shareholders.”