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Inside ExxonMobil's $30 Billion Plan to Build the Energy Company of the Future


Published on 2024-12-19 09:21:17 - MSN
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  • ExxonMobil (NYSE: XOM) is the hands-down leader of today's carbon-powered world. The company is an industry-leading producer of hydrocarbons. It's also the most profitable company in the sector by a wide margin.

ExxonMobil has announced a $30 billion investment plan aimed at transforming itself into a leading energy company of the future. This strategic initiative focuses on expanding its low-carbon solutions, including carbon capture and storage, hydrogen, and biofuels, while also enhancing its traditional oil and gas operations. The plan includes significant investments in the Permian Basin and Guyana, where ExxonMobil aims to increase production capacity. Additionally, the company is committing to reducing its greenhouse gas emissions, with a goal to be net zero by 2050. This dual approach seeks to balance the immediate energy needs with long-term sustainability goals, positioning ExxonMobil to adapt to the evolving energy landscape driven by global demand for cleaner energy sources.

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