“In total, our 2025 project start-ups are expected to drive more than $3 billion of earnings in 2026 at constant prices and margin.”

In context

“uction. We've started up our Fawley Hydrofiner project in the U.K. converting high sulfur gas oil exports to domestic ultra-low sulfur diesel sales. We're now producing renewable diesel at Strathcona in Canada for the first time. This is a key part of our lower emissions fuel strategy, growing production where policy and economics are supportive of cost effectively reducing the carbon intensity of essential products. Lastly, we expanded operations at our new Proxxima systems blending facility in Texas, a critical step to more than tripling production capacity this year. We also signed an MOU with a leading building materials and construction company based in the Middle East to manufacture and distribute rebar made with Proxxima. These are important steps in establishing this new business. In total, our 2025 project start-ups are expected to drive more than $3 billion of earnings in 2026 at constant prices and margin. This goes a long way towards derisking our plans to achieve [ 20, 30 ] by 2030. That's $20 billion of additional earnings and $30 billion of cash flow versus 2024 on a constant price and margin basis. In our Low Carbon Solutions business, our first third-party carbon capture and storage project is now in operation. The project uses our CO2 transport and storage network, the world's only large-scale system, to store up to 2 million metric tons of CO2 per year that otherwise would have been emitted to the atmosphere. We also recently announced our seventh CCS customer contract. This brings total third-party CO2 offtake to nearly 10 million metric tons per year. In addition, the U.S. Environmental Protection Agency issued the draft Class VI permit for our Rose CO2 storage facility in Texas.”