The updated earnings projection compares with last year’s estimated 135% increase during 2017-25, as XOM now sees cumulative earnings potential through 2025 rising by ~$9B, supported by further improvements to the company’s investment portfolio and divestment plans.
XOM also expects annual cash flow from operations to reach $60B in 2025, foreseeing cumulative cash flow from operations and asset sales during 2019-25 $24B higher than communicated at last year's analyst meeting, including $15B from anticipated asset sales during 2019-21.
XOM's update comes a day after the company said it foresees production from the Permian Basin rising to 1M boe/day as early as 2024.
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