ExxonMobil's Strategic Moves: Cost Cuts, Share Buybacks, and Increased Oil Production
ExxonMobil has announced its corporate plan, aiming to generate average returns of around 30% from capital investments with payback periods of less than 10 years for over 90% of the investments. The company plans to pursue over $20 billion in lower emissions opportunities and has already achieved $9 billion in structural cost savings, with an additional $6 billion expected by 2027. ExxonMobil aims to increase its share repurchases to $20 billion per year through 2025, assuming reasonable market conditions. The company also plans to grow its annual earnings and cash flow by $14 billion from 2023 to 2027 by reducing costs, increasing production from low-cost assets, and expanding sales of high-value products.