Exxon plans to cut low-carbon spending by a third

Exxon plans to cut low-carbon spending by a third

ExxonMobil plans to cut its low-carbon spending by a third, the latest sign of a pullback on decarbonization across most big oil companies. In its latest corporate outlook, Exxon raised its 2030 targets for earnings and cash flow each by $5 billion. That should be possible without new capital spending, the company said. But it will require low-carbon spending to fall to $20 billion from $30 billion, following what CEO Darren Woods described as l…

ExxonMobil’s $20B Low-Carbon Bet in 2030 Plan: Big Emissions Cuts, Bigger Oil Production

ExxonMobil published its updated 2030 Corporate Plan, which keeps the company’s “dual challenge” approach. The oil giant says it will supply reliable energy while cutting emissions. The update raises lower-emission spending, while also forecasting higher oil and gas production to 2030. Billions in Motion: ExxonMobil’s Financial and Production Targets ExxonMobil plans about $20 billion of lower-emission capital between 2025 and 2030. It says the …

ExxonMobil to slash low-carbon spending by US$10bn

EXXONMOBIL will cut its low-carbon spending by US$10bn as it shifts investment back towards upstream oil and gas, joining a growing trend of energy majors pulling back from renewables.

ESG News Recap: ExxonMobil Steps Up its 2030 Transformation

Impakter ExxonMobil Steps Up Its 2030 Transformation Plan Today’s ESG Updates: ExxonMobil Steps Up its 2030 Transformation Plan: Aims to sharply boost profits and cash flow by 2030 without increasing capital spending, and with a tighter, more selective low‑carbon spend. Teck Secures Shareholder Support for Anglo American Merger: Teck shareholders approved a “merger of equals” with Anglo American, creating one of the world’s […] The post ExxonMob…