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


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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Comments (3)
  • User 353732
    , contributor
    Comments (5158) | Send Message
     
    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 2013, 06:15 PM Reply Like
  • hahaha48
    , contributor
    Comments (1411) | Send Message
     
    the more is produced the lower the price
    so in general it may just be a push
    6 Mar 2013, 09:45 PM Reply Like
  • Unsure Now
    , contributor
    Comments (406) | Send Message
     
    Can we ever be oil independent though?????
    7 Mar 2013, 12:04 AM Reply Like
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