ExxonMobil outlines its plans through 2025 to increase earnings and cash flow to sustain and grow its dividend, reduce debt and fund advantaged projects, while working to commercialize lower emission technologies in support of the goals of the Paris Agreement. . Read more here.
Exxon Mobil (
XOM) - Get Report on Wednesday laid out plans through 2025 to boost earnings and cash flow, grow its dividend, fund projects and slash debt, as the oil company giant works to reassure investors following a year in which it experienced its first-ever loss as a public company.
Shares of the Irving, Tex. company were up 0.68% at $56.45 in pre-market trading.
In a statement released ahead of an investor day, Chairman and CEO Darren Woods said the company expects the investments to generate returns north of 30%.
The company noted that future spending plans take into account potential market volatility as the economy recovers from the pandemic.
ExxonMobil has revealed that its capital spending for 2021 will be in the $16-$19 billion range as well as plans to focus on developing technologies to reduce emissions.
ExxonMobil Outlines Plans to Grow Long-Term Shareholder Value in Lower Carbon Future morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
ExxonMobil’s CCS push [NGW Magazine]
Feb 22, 2021 7:15:am
Summary ExxonMobil has launched a new low-carbon business that will initially focus on carbon capture and storage – an industry that is gaining momentum but has hurdles to overcome. [NGW Magazine Volume 6, Issue 4]
by: Anna Kachkova
Posted in:
ExxonMobil’s CCS push [NGW Magazine]
Oil and gas giant ExxonMobil has taken a step forward with regard to the energy transition, announcing on February 1 that it was launching a new low-carbon business. The business, ExxonMobil Low Carbon Solutions, will initially focus on carbon capture and storage (CCS).
The news marks a shift in the US generally where companies have been slower to adapt their businesses to the new pressures. Indeed, French major Total quit the American Petroleum Institute owing to the rift in policy objectives.