Strategy Update: ExxonMobil’s 2021 Investor Day
Report summary
Table of contents
-
Executive Summary
- The dividend is much more secure
- Production growth downgraded by 1.3 million boe/d
- Investment cut of US$55 billion has a powerful high-grading effect
- Limited details on high-grading plans
- Energy transition strategy is still at an early stage
-
Flexibility prioritised in updated financial framework
- Huge shift in the Permian investment strategy
- Investment plans unchanged in Guyana and Brazil but risks are to the upside
- More uncertain outlook for the next wave of LNG projects
- What about portfolio high grading?
- Refining and Chemicals – are bigger changes coming?
- Positioning for the energy transition
Tables and charts
This report includes 6 images and tables including:
- Wood Mackenzie’s forecast of pre-capex cash flow per boe (at US$50/bbl Brent, 2021 terms)
- The Majors’ reported R&D spend
- Permian drilling inventory by NPV,10 breakeven price
- Development IRR at US$50/bbl real Brent
What's included
This report contains:
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