ExxonMobil has upgraded its earnings estimate by $5 billion in its corporate plan to 2030.
Earnings growth is projected to average 13% per year through 2030, with double-digit cash flow growth. Over the next five years, the company expects to generate roughly $145 billion in surplus cash flow at $65 real Brent, with return on capital employed now reaching over 17% in 2030. Total upstream production will increase to 5.5 million oil equivalent barrels per day by 2030 under the plan.
The company anticipates more than $14 billion in upstream earnings growth at constant prices vs 2024, an increase of $5 billion versus prior guidance. The increase reflects stronger Permian growth – underpinned by technology advancements and improved capital efficiency – as well as further structural cost reductions, said Exxon Mobil. Unit earnings are projected to reach more than $15 per barrel by 2030, three times 2019 levels.
Darren Woods, ExxonMobil chairman and CEO, said. ‘By 2030, we now expect $25 billion in earnings growth and $35 billion in cash flow growth vs. 2024. We expect to do it with no increase in capital. We’re also beating our 2030 emission-reduction plans across the portfolio. We’ve already achieved our plans for reducing GHG and flaring intensity and expect to reach our planned 2030 methane intensity reductions next year.’
The company’s advantaged assets – Permian, Guyana, and LNG – remain central to revenue growth, said the company. By 2030, production from these assets is expected to reach nearly 3.7 million oil equivalent barrels per day, representing approximately 65% of total volumes.
ExxonMobil is also advancing integrated CCS-enabled low-carbon data centre projects, targeting a final investment decision by late 2026.
New businesses have the potential to reach $13 billion in earnings by 2040 as lower-emissions markets mature, including Proxxima systems and carbon materials. To this end, the company is pursuing approximately $20 billion of lower-emission investments between 2025 and 2030, with approximately 60% focused on reducing emissions for third-party
customers.
ExxonMobil has upgraded its earnings estimate by $5 billion in its corporate plan to 2030.
Earnings growth is projected to average 13% per year through 2030, with double-digit cash flow growth. Over the next five years, the company expects to generate roughly $145 billion in surplus cash flow at $65 real Brent, with return on capital employed now reaching over 17% in 2030. Total upstream production will increase to 5.5 million oil equivalent barrels per day by 2030 under the plan.
The company anticipates more than $14 billion in upstream earnings growth at constant prices vs 2024, an increase of $5 billion versus prior guidance. The increase reflects stronger Permian growth – underpinned by technology advancements and improved capital efficiency – as well as further structural cost reductions, said Exxon Mobil. Unit earnings are projected to reach more than $15 per barrel by 2030, three times 2019 levels.
Darren Woods, ExxonMobil chairman and CEO, said. ‘By 2030, we now expect $25 billion in earnings growth and $35 billion in cash flow growth vs. 2024. We expect to do it with no increase in capital. We’re also beating our 2030 emission-reduction plans across the portfolio. We’ve already achieved our plans for reducing GHG and flaring intensity and expect to reach our planned 2030 methane intensity reductions next year.’
The company’s advantaged assets – Permian, Guyana, and LNG – remain central to revenue growth, said the company. By 2030, production from these assets is expected to reach nearly 3.7 million oil equivalent barrels per day, representing approximately 65% of total volumes.
ExxonMobil is also advancing integrated CCS-enabled low-carbon data centre projects, targeting a final investment decision by late 2026.
New businesses have the potential to reach $13 billion in earnings by 2040 as lower-emissions markets mature, including Proxxima systems and carbon materials. To this end, the company is pursuing approximately $20 billion of lower-emission investments between 2025 and 2030, with approximately 60% focused on reducing emissions for third-party
customers.
