October 8, 2019 - 8:29 AM EDT
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ExxonMobil: One Big Step Closer to the Goal

Integrated oil major ExxonMobil (NYSE: XOM) is looking to spend as much as $35 billion a year through 2025 on capital projects across the upstream (oil and natural gas drilling), midstream (pipeline), and downstream (refining and chemicals) segments of its business. That's a lot of money, especially when you consider that the energy giant's top and bottom lines are heavily influenced by the highly volatile price of oil. To prove it could afford the spending, management made a key promise. And it has just taken a big step toward fulfilling that pledge.   

The energy sector is not an easy place in which to operate. Oil prices are often very volatile. The recent attack on Saudi Arabian oil facilities grabbed headlines and led to a huge price spike, but it really wasn't all that notable a departure from history. In fact, it only took a couple of weeks for oil prices to settle back down toward where they were before that event. When you look at an oil and gas company like Exxon, you obviously have to think about the price of oil, but you shouldn't focus exclusively on this factor. 

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Source: Motley Fool (October 8, 2019 - 8:29 AM EDT)

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