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ExxonMobil Unveils Capital Plans Through 2027; $10B Less/Year vs. Prior Estimate
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ExxonMobil has finalized corporate plans through 2027, estimating maintaining a capital budget of $20-25 billion for each year.
This is about $10 billion less than what the company projected back in 2019, where it estimated that it would be spending $30-35 billion each year through 2025
Exxon will also increase spending to $15 billion on greenhouse gas emission-reduction projects over the next six years while maintaining disciplined capital investments in its industry-leading portfolio.
The company is on track to meet its 2025 greenhouse gas emission-reduction plans by year-end 2021, four years ahead of schedule. In addition, ExxonMobil has developed more aggressive plans for further Scope 1 and Scope 2 reductions through 2030, consistent with Paris Agreement pathways.
Capital PlansExxonM…
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