HOUSTON, Dec 11 (Reuters) - Exxon Mobil ( XOM ) on

Wednesday said annual project spending will rise to between $28

billion and $33 billion between 2026 and 2030, following the

acquisition of U.S. shale producer Pioneer Natural Resources.

The top U.S. oil producer laid out a five-year plan to

increase earnings by $20 billion and cash flow by $30 billion to

fund its expansion plans for oil and liquefied natural gas (LNG)

production and drive shareholder returns.

The new targets come as Exxon is riding high. Its Guyana

operations are generating huge profits and U.S. shale business

is on track to double oil production this year through its

acquisition Pioneer Natural Resources. In LNG, it is a mixed bag

with setbacks in its U.S. and Mozambique projects.

Exxon's 12.7% year-to-date share gain is well above the

sector's about 8.4% appreciation as measured by energy mutual

fund XLE. Its share-price increase stands out from double-digit

percentage declines in ConocoPhillips ( COP ) and Occidental

Petroleum's ( OXY ) shares this year.

The top U.S. oil producer aimed to more than triple its

production in the Permian, the top U.S. shale field, to 2.3

million barrels per day (bpd) by 2030 and pump 1.3 million bpd

from its Guyana operations.