Exxon Eyes $16 Billion In Profits From Its Fuel And Chemicals Businesses By 2027

Exxon expects to generate some $16 billion in profits from its fuels and chemicals businesses in 2027, company executives told media. "Toward the end of this decade we see gasoline demand peaking, but it will be a long plateau," Senior Vice President Jack Williams said, as quoted by Reuters. The increase in earnings follows the merger of Exxon’s refining and chemicals business and its streamlining in order to maximize returns from both divisions. In line with these plans, Exxon announced the start-up of two new chemicals units at its…