Exxon Lifts 2030 Cash Flow Forecasts, Sees Less Low Carbon

(Bloomberg)-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.