ExxonMobil (NYSE:XOM) may be the most recognizable name in the oil and gas industry, but it has barely registered as one of the top energy stocks in comparison to its Big Oil peers. The company is really hoping that 2014 will turn that around, though. Exxon says that it will bring on a total of 300,000 additional barrels of oil equivalent online in 2014 as it completes 10 of its major development projects. Also, with capital expenditures winding down by just under $3 billion this year, it should see a significant boost in returns.
It still has quite a long way to go to catch the top performer in the space --Chevron (NYSE:CVX) -- but Chevon's announcement that it has cut its production guidance and that, along with Royal Dutch Shell (NYSE:RDS-A) and Total (NYSE:TOT), it plans to significantly increase sales of assets over the next year or two could put Exxon in a position to catch up. Find out in the video below what else Exxon needs to do to get back atop the Big Oil throne.
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