Exxon sees $16 billion in earnings for fuels, chemicals by 2027

Business News News

Exxon Mobil Corp expects its motor fuels and chemicals earnings to reach $16 billion by 2027, up about $4 billion from current levels as demand continues to rise, executives said on Wednesday. The largest U.S. oil company has been generating strong refining profits this year in part on a massive expansion of refining capacity and focus on higher margin chemicals. 'Toward the end of this decade we see gasoline demand peaking, but it will be a long plateau,' Exxon Senior Vice President Jack Williams said at briefing at its Spring, Texas, headquarters.