“And we said, between here and 2030, we expect to get that number up to $18 billion.”

In context

“you all assuming on broad strokes for annual capital spend and OpEx during this period in order to achieve it? I'm just wondering, like, directionally, what are you assuming? Kathy Mikells: Sure. So, I'll start with capital because we gave guidance at our corporate plan. This coming year in 2025, we said we expect cash capex to be between $27 billion and $29 billion. And then, between 2026 and 2030, that number is $28 billion to $33 billion. And then, if you just think about expenses, obviously, we're growing, and we're growing across our business. That is going to have growth expense associated with it. And some of the offsets of that is driving significant structural cost reductions. And so, to date, since 2019, we're at a little over $12 billion in terms of structural cost reductions. And we said, between here and 2030, we expect to get that number up to $18 billion. So, kind of an additional $6 billion in structural cost savings to help to offset, just the cost of that growth overall, and, obviously, a little bit of inflation. And the last thing I would say on that topic is, we have a global procurement organization, as we talked about, the Global Projects Organization, working pretty hard to make sure that we're bringing kind of the full scale and the manner in which we integrate our business kind of to bear as we procure the different products and services that we procure. So, they're doing quite a good job, as they look to help us hold down expenses. Darren Woods: Yes, and maybe just to build on Kathy's point, if you look at where we were in 2019, we challenged the organization to pay for the growth to make sure that, as we were growing and adding”