Exxonmobil working on technologies to reduce emissions

Oil&Gas Materials 5 March 2020 18:15 (UTC +04:00)

BAKU, Azerbaijan, March 5

By Leman Zeynalova - Trend:

US-based Exxonmobil is working on technologies to reduce emissions, Darren W. Woods, ExxonMobil chairman and chief executive officer, said at the company’s annual investor day at the New York Stock Exchange, Trend reports.

“We’re investing in new energy supplies to improve global living standards, working on technologies that are needed to reduce emissions and supporting sensible policies, such as those putting a price on carbon or regulations to reduce emissions of methane,” he said.

Woods told investors that ExxonMobil is planning capital expenditures of between $30 billion to $35 billion annually through 2025, consistent with previous guidance. For 2020, the company anticipates an investment level of up to $33 billion, depending on the progress of individual projects.

In the downstream, Woods said ExxonMobil remains focused on maximizing value from its base assets through increased integration, utilization and efficiency. Project improvements continue to add value, and recent investments in Beaumont, Rotterdam and Antwerp generated earnings of $300 million in 2019.

The company is actively upgrading its portfolio through strategic divestments, and continues to progress its $15 billion divestment program, he added.


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