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Monday, March 12, 2018VOLUME 14 ISSUE 11
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ExxonMobil Outlines Aggressive Growth Plans to More Than Double Earnings

ExxonMobil last Wednesday outlined an aggressive growth strategy to more than double earnings and cash flow from operations by 2025 at today’s oil prices.
“We’ve got the best portfolio of high-quality, high-return investment opportunities that we’ve seen in two decades,” Darren W. Woods, chairman and CEO, said at the company’s annual meeting of investment analysts at the New York Stock Exchange.
“Our plan takes full advantage of the company’s unique strengths and financial capabilities, using innovation, technology and integration to drive long-term shareholder value and industry-leading returns.”
Growth plans include steps to increase earnings by more than 100% – to $31 billion by 2025 at 2017 prices – from last year’s adjusted profit of $15 billion, which excluded the impact of U.S. tax reform and impairments.
Woods said this plan projects double-digit rates of return in all three segments of ExxonMobil’s business – upstream, downstream and chemical.
ExxonMobil’s downstream business is projected to double earnings by 2025 by upgrading its product slate through strategic investments at refineries in Baytown and Beaumont in Texas and Baton Rouge, Louisiana, Rotterdam, Antwerp, Singapore, and Fawley in the UK.
These projects are expected to result in double-digit returns by enabling increased production of higher-value products, such as ultra-low sulfur diesel, chemicals feedstocks and basestocks for lubricants. As a result of these improvements, the company’s 2025 downstream margins are projected to increase by 20%.
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