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Exxon forecasts doubling earnings and cash flow by 2027 while reducing emissions

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A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018.

Sergio Moraes | Reuters

Exxon Mobil on Wednesday outlined a corporate spending plan that it said will double earnings and cash flow by 2027 from 2019’s levels, while also reducing emissions. The plan comes as the oil giant reevaluates its long-term strategy following the pandemic, and after a shake-up in its boardroom.

The company said it plans to spend between $20 billion and $25 billion per year through 2027. This is higher than the $16 billion to $19 billion range the company outlined for 2021 spending, but significantly below the $30 billion to $35 billion the…



Source cnbc.com

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