Exxon Mobil Raises Annual Buyback to $50 Billion

Exxon and Chevron are focusing on shareholder returns, with Exxon increasing its share buybacks to $50 billion by 2024. Both companies are investing heavily in the Permian Basin, despite concerns about asset maturation. Exxon is also offering significant salary increases, marking a shift in the oil industry's attractiveness. The companies are prioritizing shareholder returns over production increases, reflecting a cautious approach amid energy transition challenges.

What is the total amount Exxon plans to spend on share buybacks through 2024?

• $20 billion

• $50 billion

• $25 billion

• $100 billion

Why are Exxon and Chevron focusing on the Permian Basin?

• It offers long-term projects with high risk.

• It provides short-cycle production with quick returns.

• It is the only available option for investment.

• It has the lowest production costs globally.

What is a significant concern regarding the Permian Basin?

• Environmental regulations

• Lack of infrastructure

• Resource maturation and productivity decline

• High operational costs

How are Exxon and Chevron's current spending priorities different from the past?

• They are investing heavily in new technology.

• They are prioritizing shareholder returns over capital spending.

• They are spending more on capital projects than shareholder returns.

• They are focusing on increasing production at any cost.

What is one reason Exxon and Chevron are not aggressively increasing production?

• Government restrictions

• Climate change risks

• High operational costs

• Lack of available resources