ExxonMobil Ups Decarbonization, Capital Discipline Commitments Amid Fresh Concerns

SUGAR LAND--December 2, 2021--Researched by Industrial Info Resources (Sugar Land, Texas)--The global Oil & Gas Industry has enjoyed strong commodity prices for the past few months, but that may be coming to an end the omicron variant revives coronavirus-related economic risks and major countries continue to reduce their dependence on fossil fuels. Exxon Mobil Corporation (NYSE:XOM) (Irving, Texas) is heeding the warning signs with between $20 billion and $25 billion in capital investments per year through 2027--a decrease of up to 33% from its pre-COVID ambitions--including a total $15 billion over that period on new emissions-reduction efforts. Industrial Info is tracking more than $76 billion in active ExxonMobil projects globally, including more than $33 billion worth in North America.

Within this article: Details on some of ExxonMobil major projects dedicated to carbon-capture and storage (CCS) and the decommissioning and dismantlement of fossil-fuel facilities, including major CCS projects in the U.S. and Canada.