ExxonMobil 2030 Plan Raises Earnings and Cash Flow

ExxonMobil updated its 2030 plan on Dec. 9, 2025, raising its outlook for earnings and cash flow while citing higher production and cost savings from the Permian Basin, Guyana, and liquefied natural gas (LNG). The company said capital spending will remain steady.

Higher Earnings and Cash Flow Targets

ExxonMobil said in a press release that it revised its Corporate Plan through 2030, expecting about $25 billion of earnings growth and $35 billion of cash-flow growth from 2024 to 2030 at constant prices and margins. Both figures are $5 billion higher than in the prior plan. The company said these gains will come without increasing capital spending, maintaining an annual investment range of about $28 billion to $33 billion through 2030. Management attributed the improved outlook to a more profitable business mix and lower operating costs tied to its multi-year transformation. Darren Woods, chairman and CEO, said, “Several years ago, when we began to transform this company, we did so with one objective: to fully unlock our competitive advantages to sustainably grow value for our shareholders, our customers, and our communities.”

Advantaged Assets and Transformation

ExxonMobil targets total upstream production of about 5.5 million oil-equivalent barrels per day by 2030, with nearly 3.7 million barrels—roughly 65% of total volumes—coming from advantaged assets in the Permian Basin, Guyana, and LNG. The company expects Permian Basin production to double from 2024 levels to about 2.5 million barrels per day by 2030, 200,000 barrels higher than its previous plan. This growth is driven by proprietary technologies, integration benefits from the Pioneer acquisition, and scale efficiencies. ExxonMobil aims to double resource recovery over time, citing early results showing about a 20% improvement from its lightweight proppant technology.

The company increased its cumulative structural cost-savings target by $2 billion, aiming for $20 billion of reductions versus 2019 by 2027. It described these savings as persistent rather than temporary.

ExxonMobil is expanding its portfolio of lower-carbon businesses aligned with its core strengths, including carbon capture and storage (CCS), hydrogen, lithium, and advanced materials. It plans about $20 billion of lower-emissions investments between 2025 and 2030, with roughly 60% focused on reducing emissions for third-party customers. The company said it established the world’s first large-scale, end-to-end CCS system along the U.S. Gulf Coast, with its first CCS project under this strategy starting operations in 2025. Third-party customers under contract represent about 9 million metric tons of CO2 per year. ExxonMobil is advancing its first integrated CCS-enabled low-carbon data center project, targeting a final investment decision by late 2026. Additional CCS projects with partners such as Linde, Nucor, and New Generation Gas Gathering are scheduled to start in 2026.

The company accelerated its 2030 corporate greenhouse-gas (GHG) emissions-intensity targets to 2026. It reiterated goals relative to 2016 levels: a 20–30% reduction in corporate-wide GHG intensity; 40–50% reduction in upstream intensity; 70–80% reduction in methane intensity; and 60–70% reduction in flaring intensity.

ExxonMobil framed the update as delivering greater returns, supporting a framework of business growth, a strong balance sheet, and returning cash to shareholders. It did not announce new dividend or share repurchase targets but presented the plan as a path to stronger shareholder returns while maintaining capital discipline.