Exxon Mobil Remains On Track To More Than Double Earnings By 2025

Exxon Mobil Corporation XOM is on track to more than double earnings and cash flow generation by 2025, Exxon Mobil CEO Darren Woods told shareholders during the company’s annual meeting Wednesday.

During the meeting, Woods highlighted progress on major upstream projects that are expected to help increase production to about 5 million oil-equivalent barrels per day by 2025.

Related: Oil's Selling Pressure Continues

“We are committed to sharing the company’s success with our shareholders,” Woods said in a press release. “Higher earnings and increased cash flow from our investments are a good means to accomplish this. We are equally committed to helping society reduce global emissions while supporting growth and prosperity for communities around the world – effectively addressing the dual challenge.”

Exxon Mobil expects to increase its annual earnings potential by more than 140 percent and double potential annual cash flow from operations by 2025 from 2017 adjusted earnings, assuming a 2017 oil price of $60 per barrel adjusted for inflation and based on 2017 margins.

Exxon Mobil's stock was trading around $72.04 per share at time of publication.