ExxonMobil said it has finalized corporate plans, which increase spending to US $15 B GHG emission-reduction projects over the next six years while maintaining disciplined capital investments in its industry-leading portfolio. The plans support the corporate strategy of continued structural cost savings, investment in low-cost-of-supply and lower-emission products, and further portfolio high-grading, positioning the company to double earnings and cash flow by 2027 versus 2019.

These investments will include a balance between projects to reduce GHG emissions from existing operations and increased investments in the Low Carbon Solutions business. The same capabilities, technical strengths and market experience that support base energy and chemical businesses will help drive commercial growth opportunities for CCS, biofuels and hydrogen where supportive policies currently exist and provide for strong returns.