Where we're going
We're explorers at heart. That drive to uncover the next frontier or solve the next great problem lies at the heart of our determination to succeed — and has allowed us to build one of the world’s most important energy and chemicals enterprises.
To help ensure optimal future performance, we are focused on delivering greater value, creating additional organizational resilience, enabling continued growth, and developing future-proofing technology solutions.
Over the next decade, we expect to continue making significant investments in our upstream operations. These strategic investments are designed to help reinforce our preeminent position in oil, maintain our maximum sustainable production capacity, and allow us to carry out an exploration and production program focused on finding and developing conventional and unconventional gas resources.
Downstream, we are pursuing a strategy to grow our non-crude oil businesses and pursue tighter integration across our upstream and downstream operations. We see product diversification and global integration as a means to strengthening our portfolio resilience and delivering additional revenue streams for the company.
Our 70% stake in SABIC accelerates our Downstream growth strategy and strengthens our chemicals platform, uniquely positioning us for continued growth and value creation in the petrochemicals industry, expected to be the fastest growing source of oil demand in the years ahead.
We employ a wide range of capital efficiency practices to help lower capital costs and improve productivity, supporting the financial health of our company in various operating scenarios. Focusing on our underlying cost structure helps give us the tools we need to meet our goals of greater efficiency and cost competitiveness – without compromising on safety or our commitment to protect the environment.
From engineering mega projects to creating industry-changing technologies to launching innovative new products, one of our key competitive advantages has always been our relentless drive to succeed by maximizing the long-term, positive impacts we enable from our resources.