Corporate Strategy

Exxon Mobil Starts to Right Ship on Profitability, Returns

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  • Exxon’s newfound capital discipline is rapidly putting the US major on a strong footing to improve returns.
  • Corporate restructuring, big new volumes from Guyana, the US Permian and Brazil, and a slew of advantaged downstream projects could return Exxon to peer-leading break-evens around mid-decade.
  • One outstanding question is whether Exxon can demonstrate comparable advantaged returns in its emerging low-carbon businesses — and move quickly enough to satiate investors.

The Issue

Majors, Corporate Strategy , Capital Spending, Earnings, ESG
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