Exxon Mobil is balancing its traditional oil and gas production in the Permian Basin and Guyana with new investments in low carbon solutions. The company is focusing on carbon capture and storage, hydrogen, and lower emission fuels to adapt to global climate policies. While hydrocarbons remain the primary revenue driver, the shift toward industrial decarbonization and carbon capture projects represents a strategic move to leverage large scale engineering for future emissions targets.
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The mention of low carbon solutions is vague. It would be useful to see the actual percentage of capital expenditure going to carbon capture versus new upstream drilling. Without the budget split, it is just a narrative.
Agreed. I am curious about the hydrogen part. Are they looking at blue hydrogen tied to their existing gas assets, or is there a real plan for green hydrogen that requires massive grid upgrades?
Basically says Exxon is still betting on oil and gas but keeping a foot in the door with CCS and hydrogen. Standard big oil playbook.
Carbon capture for industrial customers sounds good on paper, but the cost per ton of CO2 removed is the real metric. If the subsidies do not cover the gap, these projects will stall.
