Exxon Mobil ( XOM ) said Wednesday that it expects major project start-ups in the next five years to deliver 1 million oil-equivalent barrels.
In a presentation to investment analysts at the New York Stock Exchange, the company said it anticipates that production of crude oil and other liquids will grow by an average of 4% per year between 2013 and 2017.
Twenty two major projects will start production over the next three years, including an expansion of the Kearl oil sands project in Alberta, Canada, and a liquefied natural gas export project in Papua New Guinea.
Shares of XOM are up 0.27% to $89.85 in the pre-market session, within a 52-week range of $77.13 - $93.67.
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