Corporate Plan Update and Upstream Spotlight

Corporate Plan Update and Upstream Spotlight

Webcast Corporate Plan Update Upstream Spotlight Cautionary statement Press release Modeling Toolkit Exhibit Videos Transcript

Here are the highlights of our plan to 2030:

  1. We expect to deliver growth potential of $20 billion in earnings and $30 billion in cash flow by 2030 vs. 2024 (footnote constant price/margin basis)
  2. We now plan to achieve >$3 billion in annual synergies from the Pioneer acquisition, 50% more than previously announced
  3. We see $7 billion more in structural cost savings vs. 2024, on top of the $11 billion we delivered through 3Q2024
  4. We expect new businesses, including our Low Carbon Solutions business, Proxxima ™ resins, and carbon materials to generate earnings of $3 billion by 2030
  5. We plan to invest $27-$29 billion in 2025 and $28-$33 billion annually from 2026-2030 to progress attractive long-term opportunities, with base capex roughly flat and our reinvestment rate declining materially over the plan period.

Please see the corporate plan presentation for footnotes and supplemental information.