Exxon to boost oil production despite global slowdown
- ExxonMobil is increasing oil production despite a global slowdown, aiming to boost its future position.
- The company believes this strategy will help it respond to rising demand in the market.
- Analysts suggest that this move could lead to growth in Exxon's market share.
- Global oil demand continues to recover, prompting Exxon to enhance its production capacity.
53 Articles
53 Articles
Exxon 'Getting Into the Power Business'
Exxon Mobil currently runs gas power plants in Texas, Louisiana, and Illinois to power its own operations. The plant it's planning next will be its first to supply electricity to others: specifically, data centers, and soon. The New York Times reports America's biggest oil and gas company is "get[ting] into...
Exxon to Increase Oil Production by 18% By 2030
U.S. oil and gas giant Exxon Mobil Corp. (NYSE:XOM) has unveiled plans to increase spending to $28-$33 billion annually with a goal of lifting oil and gas output by 18% by 2030. Exxon has set a target to increase overall oil and gas output to 5.4 million bpd by 2030, up about 18% from 4.58 million bpd currently. According to Exxon CEO Darren Woods, the increased project spending is expected "to generate returns of more than 30% over the life of …
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