ExxonMobil expects 2021 capital expenditures to decline 11-25% from 2020 levels as the company focuses on projects with lower breakevens amid an uncertain price environment, company executives said during a fourth-quarter earnings call Feb. 2. Company guidance now shows 2021 capital expenditures to range from $16 billion to $19 billion, in sharply from a full-year 2020 capex spend of $21.4 billion. The guidance assumes a Brent price floor of $50/b and downstream margins at ten-year lows in 2021, however, the company retains flexibility to further reduce capex while maintaining its dividend should prices fall below this level, chairman and CEO Darren Woods said. S&P Global Platts Analytics forecasts Dated Brent prices to average at $56.30/b […]