Exxon Lifts 2030 Cash Flow Forecasts, Sees Less Low Carbon

Exxon Mobil Corp. raised its forecast for future earnings and cash flow due to growth in key assets in the Permian Basin, Guyana and liquefied natural gas — and reduced low carbon investments.

Exxon expects $35 billion in cash flow growth by 2030, an increase of about 17% from what it was projecting a year ago, with no changes to capital expenditure, the Spring, Texas-based company said today in a statement. It sees $20 billion of low-carbon investment over the next five years, down from $30 billion last year after Chief Executive Officer Darren Woods warned of lagging customer demand for green fuels such as hydrogen.