I could not attend the presentation and really have no time to read it.
So I asked my 12-year old nephew to review and summarize.
3Q21:
lower operating expenses
lower planned maintenance activity
structural cost reductions
lower overall development costs
lower-emission natural gas validates reduction efforts
lower turnaround activity
Lower corporate costs, partly offset by net unfavorable tax impacts
Reduced expenses, partly offset by unfavorable foreign exchange impacts
lower expenses, partly offset by the absence of favorable one-time items
lower liquids volumes driven by entitlement effects
more than offset by lower entitlements, increased government mandates, decline and divestments
Lower margins on weaker realized fuels margins, and unfavorable foreign exchange impacts, partly offset by reduced expense
500,000 metric tons per year of advanced recycling capacity
Carbon capturing and safely storing up to 100 million metric tons per year by 2040
locally grown plant-based feedstock and hydrogen with carbon capture and storage
Lower financing costs
improve total debt to capital ratio to 25%
Net income (loss) including noncontrolling interests
You are welcome. Thanks, Ethan.