March 1 (Reuters) - Exxon Mobil Corp
* Chief Executive Darren Woods says continues to expect volatility in oil markets for near term
* CEO says oil markets have become 'more balanced,' but adds 'uncertainty remains'
* CEO: 'We remain in excellent financial condition'
* CEO says annual capex of $25 billion likely by end of decade
* CEO says startup of Liza phase 1 project still forecast for 2020
* CEO says 'very excited about future potential' in offshore Guyana
* CEO says considering adding trains to Papua New Guinea liquefied natural gas project
* CEO says 2020 capex outlook does not factor in significant cost inflation
* Says production outlook factors in 3 percent base decline rate
* Says Argentina shale 'as good as' shale reserves in contiguous United States
* Says continues to try to cut well costs in Argentina, which are roughly 2-3 times higher than United States
* Says looking for shale projects outside Western Hemisphere, including Middle East Source text for Eikon: Further company coverage: (Reporting By Ernest Scheyder)