In March 2018, ExxonMobil (NYSE:XOM) announced a bold vision for the future. The oil behemoth planned to increase its investment spending rate over the next several years, which it believed would unleash a torrent of new production and cash flow. In the company's view, it could double its earnings and cash flow from 2017's level by 2025, assuming no changes in oil prices. Fast-forward one year, Exxon now expects to deliver an even bigger surge in profitability over that time frame. Here's a look at where the oil giant plans to be five years from now.
An even bigger upstream oil and gas behemoth: ExxonMobil produced 3.8 million barrels of oil equivalent per day (BOE/D) in 2018. The company sees that number rising to roughly 5.2 million BOE/D by 2025, or a more than 36% increase over that time frame. A downstream refining and chemicals giant: In addition to being one of the largest oil and gas producers in the world, Exxon is a major oil refiner and petrochemical producer. An even greater earnings and cash flow gusher await: When Exxon released its initial vision for 2025, the company thought it could double earnings from 2017's level in that time frame assuming oil remained flat at around $60 a barrel.
Source: Motley Fool
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