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Exxon Mobil (XOM -0.3%) anticipates major project start-ups will deliver 1M oil-equivalent...

  • Wednesday, March 6, 9:44 AM ET
    Exxon Mobil (XOM -0.3%) anticipates major project start-ups will deliver 1M oil-equivalent barrels over the next five years, CEO Rex Tillerson tells analysts. Output of crude oil and other liquids is expected to increase by an average 4%/year in 2013-17, as the production starts at 28 major projects. XOM plans to invest ~$190B over the next five years to meet growing energy demand.
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This news story has 3 comments:

  •  
    For a company of this size to increase production by 4% annually for 5 years would be a significant achievement and result in notable accretions to shareholder wealth.

    The opportunity constraint that was a large negative for the integrated majors seems to have been lifted.
    6 Mar, 06:15 PM Reply Like
  •  
    the more is produced the lower the price
    so in general it may just be a push
    6 Mar, 09:45 PM Reply Like
  •  
    Can we ever be oil independent though?????
    7 Mar, 12:04 AM Reply Like
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