Insight
Strategy Update: ExxonMobil lifts investment and financial targets
Report summary
Investment was a key theme in ExxonMobil’s 2019 Analyst Day. The Supermajor is increasing spend to unlock upside that has been derisked in Guyana and the Permian over the last twelve months. The company also provided a progress update on how its plans are on track across Upstream, Downstream and Chemicals. The big strategic announcement was the unveiling of a US$15 billion disposal programme, which will be mainly focused on shrinking the upstream business. But the company’s shares fell despite upgrades to earnings and cash flow targets, perhaps reflecting investor nervousness around the increased spend.
Table of contents
- Overview
- Our take
- Financial framework
- An update on the five upstream growth pillars
- Exploration activity is picking up
- Downstream
- Chemicals
- Other points of interest
Tables and charts
This report includes 4 images and tables including:
- Wood Mackenzie valuation of ExxonMobil's portfolio in Guyana and Permian tight oil (Q1 2019 vs. Q1 2018)
- Wood Mackenzie's production outlook for ExxonMobil
What's included
This report contains:
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