【herbal tinctures for anxiety】Exxon CEO sticks to spending targets as oil prices tumble
时间:2024-09-29 12:25:22 出处:Exploration阅读(143)
By Jennifer Hiller and Shariq Khan
NEW YORK (Reuters) - Two years into an ambitious growth plan to revive earnings at the largest U.S. oil company,herbal tinctures for anxiety Exxon Mobil said on Tuesday it would stick to its spending plans even as its rivals trim costs.
Exxon faces oil prices that have fallen over 20% this year, the lowest natural gas prices in decades, a long-term industry outlook too is clouded by a push toward cleaner fuel and pressure from investors for higher returns.
It plans to spend between $30 billion and $35 billion a year through 2025, with about $33 billion in capital expenditure this year.
The company's growth strategy "will lead to sustained improvement in shareholder value," Exxon's Chief Executive Officer Darren Woods said in New York, where the company held its annual investor day meeting.
Exxon's growth plans include a big bet on U.S. shale, where output has surged, making the United States the world’s largest oil producer, and on Guyana, where an Exxon-led consortium has made one of the biggest discoveries in years.
On Tuesday, Exxon's closest U.S.-rival Chevron showed off its own war chest by highlighting it has up to $80 billion that it could use for shareholder returns over the next five years regardless of trading prices for oil.
As the two companies race to become the first to produce 1 million barrels of oil-equivalent per day in Permian, the top U.S. oilfield, Exxon said Thursday that it will exceed that target by 2024.
The entire oil industry has fallen out of favor with investors, but Exxon, once the industry’s cash flow and profits leader, has tumbled particularly hard.
Total returns for Exxon over the last five years have fallen into negative territory, while the S&P 500 returned 64%. Rivals Chevron, Total and BP have seen positive returns, while Royal Dutch Shell has been flat.
(Reporting by Jennifer Hiller in New York and Shariq Khan in Bengaluru; Editing by Arun Koyyur and Chizu Nomiyama)
View comments
上一篇: Facebook warned it may lose a key seal of approval for ad measurement - WSJ
下一篇: Three 3D-printed coronavirus-fighting products companies are making
猜你喜欢
- VW's Skoda braces for second quarter hit after earnings drop
- Manufacturing data helps lift stocks, U.S. dollar bounces
- Is Burlington Stores (BURL) a Solid Growth Stock? 3 Reasons to Think Yes
- Sientra to Present at the William Blair 40th Annual Growth Stock Conference
- Were Hedge Funds Right About Caterpillar (CAT)?
- Why Is Vornado (VNO) Up 1.7% Since Last Earnings Report?
- CANADA STOCKS-TSX plunges as coronavirus rout rages
- Trintech Extends Reporting Capabilities in Its Adra Suite with the Launch of Adra Analytics
- EUR/USD Bullish Break Kick Starts Reversal to 1.13?