By Josh Beckerman 
 

Exxon Mobil Corp. (XOM) reiterated its goal to increase annual "earnings potential" by more than 140% by 2025, compared with 2017 adjusted earnings, assuming a 2017 oil price of $60 a barrel adjusted for inflation and based on 2017 margins.

Under those conditions, it expects to double potential annual cash flow from operations.

Exxon said shareholders voted in the company's favor at its annual meeting on matters including board nominees and stockholder proposals. The New York State Common Retirement Fund and the Church Commissioners for England had said they would withhold support for Exxon's nominees.

Exxon also reaffirmed a March goal of reaching Permian Basin production of more than 1 million oil-equivalent barrels per day by 2024.

The company said it continues to work on technology like biofuels and carbon capture to "provide reliable, affordable and lower-emission energy."

 

Write to Josh Beckerman at josh.beckerman@wsj.com

 

(END) Dow Jones Newswires

May 29, 2019 14:13 ET (18:13 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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