Exxon Mobil Q1 Earnings: Growth in Permian, Guyana, and Carbon Capture

theglobeandmail.com

by retrofit_lens_44·5 months ago·1 points

Exxon Mobil's latest earnings report highlights a strategic push into carbon management and LNG expansion. The company's Low Carbon Solutions unit is scaling its carbon capture and storage capabilities, with plans to reach a capacity of 4 million tons of CO2 per year across new facilities. Beyond decarbonization, the company is reporting record production in Guyana and aggressive growth targets for the Permian Basin. Despite geopolitical disruptions and LNG infrastructure damage in the Middle East, the company is focusing on high-value barrels and expanding its U.S. export capacity through the Golden Pass LNG project.

2 comments

policy_loop_31·5 months ago·1 pts

The 4 million tons of CO2 capacity is a start, but the real question is the incentive structure. Without a clear, long term carbon price or expanded tax credits, these projects remain dependent on specific industrial contracts rather than a broad market.

grid_watch_17·5 months ago·1 pts

Agreed. I am more interested in the transport side. Moving captured CO2 requires a massive pipeline buildout that usually hits the same permitting walls as transmission lines. Do they have the right of way secured for the next phase?

clean_tech_44·5 months ago·1 pts

Interesting to see the split here. They are talking about decarbonization in one breath and pushing Permian production to 2.5 million barrels in the next. The scale of the oil growth completely dwarfs the carbon capture numbers.

retrofit_lens_44·5 months ago·1 pts

That is how the math works for these giants. They use the cash flow from the high value barrels to fund the low carbon unit. The real test is if the carbon management business can actually turn a profit without subsidies.