Exxon Mobil unveiled its Corporate Plan to 2030, targeting an additional $20 billion in earnings and $30 billion in cash flow by the end of the decade compared to 2019 levels. This growth is expected from advantaged Upstream assets and high-value Product Solutions.
The company forecasts annual project spending of $27 billion to $29 billion in 2025, and $28 billion to $33 billion annually from 2026 through 2030. This disciplined investment is focused on competitively advantaged, high-return projects.
Upstream production is targeted to reach 5.4 million oil-equivalent barrels per day by 2030, an increase from 4.3 million boepd currently. More than 60% of this production is expected to come from advantaged assets, with per-barrel profit increasing from $10 in 2024 to $13.
The plan also includes increasing Pioneer acquisition synergies by 50% to over $3 billion annually and growing new business earnings to $3 billion from lower-emission investments. These new ventures, including carbon capture, hydrogen, and lithium, are expected to generate earnings insulated from commodity price cycles.
ExxonMobil aims to grow high-value product sales by 80% by 2030, reaching over 40% of total Product Solutions earnings. Cumulative structural cost savings are targeted to reach $18 billion by 2030 relative to 2019 levels, with $12.7 billion already achieved through Q1 2025.
The company reiterated its commitment to competitive shareholder returns through a growing dividend and a $20 billion per year share repurchase program through 2026, assuming reasonable market conditions.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.