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Exxon focuses on returns, emissions cuts ahead of investor day -Breaking

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© Reuters. FILEPHOTO: The logo of Exxon Mobil Corp was seen at Rio Oil and Gas Expo and Conference (Rio de Janeiro Brazil, September 24, 2018). REUTERS/Sergio Moraes

(Reuters) – Exxon Mobil Corp (NYSE 🙂 announced Wednesday that it plans to cut costs up to $9 billion annually by 2023. This is in addition, Corp stressed shareholder returns and investments for energy transition.

This is the U.S.’s top oil producer. It said that these actions will increase its earnings and cash flow potential to double by 2027 as compared to 2019, while reducing breakeven costs of around $10 per barrel.

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