ExxonMobil expects its earnings to grow by more than US$4 billion from 2019 to 2020, the U.S. supermajor said in its Investor Day presentation on Wednesday. In 2018, Exxon booked earnings of US$20.8 billion, up by 6 percent compared to 2017. Despite weaker margins in the downstream and the drop in oil prices in Q4, Exxon’s full-year 2018 cash flow from operating activities jumped to US$36 billion from US$30 billion for 2017. The 2018 cash flow from operations was the highest since 2014, the company said. According to today’s presentation, Exxon expects its earnings, cash flow, and return profile to grow in coming years even in a flat price environment. Cash flow is expected to also continue to increase, by more than US$5 billion from 2019 to 2020, the company says. In the upstream, Exxon will focus on five “outstanding” developments—the Permian in the shale business, Guyana and Brazil […]