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12/19/24, 7:18 AM
Inside ExxonMobil's $30 Billion Plan to Build the Energy Company of
the Future
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ExxonMobil (NYSE: XOM) is the hands-down leader of today's carbon-powered world. The company
is an industry-leading producer of hydrocarbons. It's also the most profitable company in the sector
by a wide margin. The energy giant expects to invest heavily over the next several years to continue
growing its legacy hydrocarbon business.
At the same time, it's also ramping up its investments in lower-carbon energy. Those investments
should fuel billions of dollars in incremental earnings in the coming decades.
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$30 billion by 2030
ExxonMobil recently unveiled its bold 2030 vision. It aims to grow its capacity for earnings and cash
flow by $20 billion and $30 billion, respectively, by 2030. The main driver is investing $140 billion
into major projects and its Permian Basin development plan over the next several years. It expects
these investments to generate returns of more than 30%.
Another aspect of Exxon's 2030 plan is the pursuit of up to $30 billion of low emissions
opportunities in the 2025 to 2030 timeframe. Roughly 65% of that spending would be on projects to
help reduce emissions for third-party customers. It aims to build three lower-carbon solutions
business units focused on carbon capture and storage, hydrogen, and lithium.
The energy giant has several projects already under development. For example, it's working on the
world's first large-scale carbon capture and storage system. It features a high-capacity pipeline
system that would connect carbon emitters across several industries to permanent sequestration
sites along the U.S. Gulf Coast.
Exxon is also working on what would be the world's biggest low-carbon hydrogen production
facility. It could produce up to 1 billion cubic feet of hydrogen per day, with 98% of the associated
carbon dioxide captured and stored. Exxon is working toward making a final investment decision on
this project by next year, with the potential to begin production in 2029.
The company is also working to develop its large-scale lithium resource in Arkansas. It set a bold
goal to produce enough lithium to power 1 million electric vehicles by 2030.
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12/19/24, 7:18 AM
Producing more profits
Exxon's investments in low-carbon solutions could generate significant and growing earnings in the
coming decades. The company believes this platform could produce $2 billion in earnings by 2030.
Exxon is also investing to develop other new products in its downstream product solutions
business. These new product lines include its revolutionary Proxxima thermoset resin product,
advanced recycling, lower-emissions fuels, and carbon materials. The company has several projects
already underway, including a renewable diesel project in Canada, additional advanced recycling
units in Texas, and an expansion of its thermoset resin manufacturing facilities in Texas.
Add the incremental income from those new product solutions categories to the company's lower
carbon solutions businesses, and Exxon's new businesses could provide $3 billion in earnings
potential by 2030. The energy company expects that number to continue growing, potentially
reaching $13 billion by 2040. Earnings from these new products will likely continue rising in the
decades ahead as Exxon scales these new businesses. The company sees massive market
opportunities, with the potential addressable market of these new product categories surpassing
$2.3 trillion by 2050.
Exxon is investing with the future in mind
ExxonMobil plans to plow $30 billion into lower emissions opportunities by 2030. It's building out
several lower-carbon energy businesses to complement the increasingly lower-carbon focus of its
product solutions segment. That's part of its strategy to build the energy company of the future.
These investments will add several new income streams to its business over the coming years that
have the potential to grow significantly in the decades ahead. This strategy positions Exxon to
remain a leader in the energy sector for a very long time.
Matt DiLallo has no position in any of the stocks mentioned. The Motley Fool has no position in any
of the stocks mentioned. The Motley Fool has a disclosure policy.
Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be
viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not
be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
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