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CLAIM #63885 · Exxon Mobil Corp (XOM) · 2021Q3 earnings call · Oct 29, 2021 · due Dec 31, 2022

So, my view is we'll see continued progress in that space and I would expect it to pick up here compared to certainly 2020 when the market was much more challenging.

Darren Woods · CEO

PENDING
graded after results covering Dec 31, 2022 are reported

In context

nd high-grade that portfolio, I think you'd see the opportunity set that underpins that divestment portfolio growth. And then of course, our ability to execute those opportunities and high graded the asset portfolio will be a function of, obviously finding buyers who put a value on that, that's consistent with what we think we need in order to take that out of the portfolio. So that's work going on. I would tell you; we did a lot of work last year maintaining our push in this space, but not willing to really push anything out to a market where we didn't see the value that we expected to get. I think as the markets now recover, much more attractive market to sell into, and we're seeing the kind of buyer response and valuations that we think are more consistent with what we're looking for. So, my view is we'll see continued progress in that space and I would expect it to pick up here compared to certainly 2020 when the market was much more challenging. Phil Gresh : Got it. And if I could ask just one more question on the buybacks, the strength in chemicals right now, the improving downstream environment, it would seem like you should be able to cover your dividend at about $50 Brent, looking at 2022, even if CapEx were higher in that $20 to $25 billion range. And if I were to layer in $5 billion of buybacks, that'd be about $10 in the oil price. So, it would seem like the ratable plan could be covered at maybe $60 Brent and obviously prices are higher than that. I'm just curious if you think that math is reasonable and if it is right that maybe excess cash could still go to either more buybacks or towards more Balance Sheet deleveraging and just how you think about those. Thank you. Darren Woods : Again, I'll start off and then if Kath

Verify independently

SEC filings for XOM · Claim quote is verbatim from the 2021Q3 earnings call.