ExxonMobil: projects 33 billion dollar spending budget
(CercleFinance.com) - ExxonMobil is budgeting 33 billion dollars for capital projects this year, the US oil giant said on Thursday, which is about 10% more than the 30 billion dollars allocated for 2019.
Exxon said its 2020 budget will mostly focus on Guyana and the Permian Basin, where production volumes remain on track to exceed 1 million oil equivalent barrels per day by 2024.
ExxonMobil will also focus on Brazil, where it added more than 450,000 acres in 2019, as well as on its low-cost liquefied natural gas (LNG) operations in Papua New Guinea, it said.
At the company's annual investor day at the New York Stock Exchange, Darren Woods, ExxonMobil's chairman and CEO, said that ExxonMobil is planning capex of between 30 billion and 35 billion dollars annually through to 2025, in line with its previous guidance.
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Exxon said its 2020 budget will mostly focus on Guyana and the Permian Basin, where production volumes remain on track to exceed 1 million oil equivalent barrels per day by 2024.
ExxonMobil will also focus on Brazil, where it added more than 450,000 acres in 2019, as well as on its low-cost liquefied natural gas (LNG) operations in Papua New Guinea, it said.
At the company's annual investor day at the New York Stock Exchange, Darren Woods, ExxonMobil's chairman and CEO, said that ExxonMobil is planning capex of between 30 billion and 35 billion dollars annually through to 2025, in line with its previous guidance.
Copyright (c) 2020 CercleFinance.com. All rights reserved.