European Investor
09 Dec 2025, 20:39
Exxon Mobil Corporation raised its 2030 corporate plan, saying its ongoing transformation will deliver higher profits, stronger cash flow and faster emissions intensity reductions without increasing capital spending. At constant prices and margins, the company now targets 25 billion dollars in earnings growth and 35 billion dollars in cash flow growth between 2024 and 2030, 5 billion dollars higher than its prior plan for each metric, while expecting return on capital employed to exceed 17 percent and cumulative surplus cash flow to reach roughly 145 billion dollars by 2030.
Upstream output is projected to rise to 5.5 million barrels of oil equivalent per day by 2030, with “advantaged” assets in the Permian, Guyana and LNG contributing about 3.7 million barrels of oil equivalent per day, or 65 percent of volumes; Permian production alone is expected to double to around 2.5 million barrels of oil equivalent per day, helped by technology-driven recovery gains and higher Pioneer Natural Resources synergies now estimated at 4 billion dollars annually. In Product Solutions, ExxonMobil aims for more than 9 billion dollars in incremental earnings by 2030 versus 2024, including about 4 billion dollars from advantaged projects and with high-value fuels, chemicals, lubricants and new products such as Proxxima systems and carbon materials projected to generate over 40 percent of segment earnings.
The company also lifted its cumulative structural cost-savings goal to 20 billion dollars versus 2019 and said all 2030 corporate greenhouse gas emissions intensity targets are now expected to be achieved by 2026, including earlier reductions in GHG and flaring intensity and faster progress on methane. Through its Low Carbon Solutions business, ExxonMobil highlighted roughly 9 million tonnes per year of third-party CO₂ already under contract in its carbon capture and storage portfolio, the start-up of its first large-scale end-to-end CCS system on the U.S. Gulf Coast and plans to invest around 20 billion dollars in lower-emission opportunities from 2025 to 2030, including CCS-enabled data centers, hydrogen, lithium, low-carbon fuels and advanced carbon materials.
Upstream output is projected to rise to 5.5 million barrels of oil equivalent per day by 2030, with “advantaged” assets in the Permian, Guyana and LNG contributing about 3.7 million barrels of oil equivalent per day, or 65 percent of volumes; Permian production alone is expected to double to around 2.5 million barrels of oil equivalent per day, helped by technology-driven recovery gains and higher Pioneer Natural Resources synergies now estimated at 4 billion dollars annually. In Product Solutions, ExxonMobil aims for more than 9 billion dollars in incremental earnings by 2030 versus 2024, including about 4 billion dollars from advantaged projects and with high-value fuels, chemicals, lubricants and new products such as Proxxima systems and carbon materials projected to generate over 40 percent of segment earnings.
The company also lifted its cumulative structural cost-savings goal to 20 billion dollars versus 2019 and said all 2030 corporate greenhouse gas emissions intensity targets are now expected to be achieved by 2026, including earlier reductions in GHG and flaring intensity and faster progress on methane. Through its Low Carbon Solutions business, ExxonMobil highlighted roughly 9 million tonnes per year of third-party CO₂ already under contract in its carbon capture and storage portfolio, the start-up of its first large-scale end-to-end CCS system on the U.S. Gulf Coast and plans to invest around 20 billion dollars in lower-emission opportunities from 2025 to 2030, including CCS-enabled data centers, hydrogen, lithium, low-carbon fuels and advanced carbon materials.