Aussie,

These are structural cost reductions - and thus repeating.

$11.3 billion is the cumulative amount of continuing reductions achieved since 2019. They expect that to increase to $15 billion by 2027. These are identified actions to be achieved based on business plans.

Few understand the extent to which XOM has been reorganized under Darren Woods tenure as CEO.

Basically now there are three organizations reporting to HQ management. These are Upstream, Product Solutions, and basically "Support". There is no longer a corporate HQ in Dallas. Senior management has moved to the Houston area campus and Exxon is now only an operating company.

Within "Support", all supporting functions for the two "operating" organizations have been consolidated into single organizations. E.g., there is now a single Technology organization, not Upstream, Refining, and Chemicals. What was separated into Refining and Chemicals in 1965 has been recombined into one. Ditto for project management, purchasing, accounting, on-and-on. This has resulted in lower costs and more flexibility to move resources to the most important projects. Perhaps bigger, the cross leaning from previously siloed groups has resulted in a great deal of efficiency and innovative improvements. Best ideas and experiences combined. Management says the full impacts from these moves have not yet been realized.

These are annual gains.