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ExxonMobil evaluating significant near-term capital and operating expense reductions; COVID-19

Green Car Congress

ExxonMobil is looking to reduce spending significantly as a result of market conditions caused by the COVID-19 pandemic and commodity price decreases. Woods said that ExxonMobil has faced numerous market downturns throughout its long history and has experience operating in a sustained low-price environment.

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ExxonMobil seeking to boost growth, continue work on lower-emissions technologies including biofuels and carbon capture

Green Car Congress

ExxonMobil expects to increase annual earnings potential by more than 140% and double potential annual cash flow from operations by 2025 from 2017 adjusted earnings, assuming a 2017 oil price of $60 per barrel adjusted for inflation and based on 2017 margins. In Brazil, the company has acquired 2.3

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ExxonMobil adds 2.7B barrels oil equivalent to reserves; replaces 183% of 2017 production

Green Car Congress

Reserves additions reflect new developments as well as revisions and extensions of existing fields resulting from drilling, studies and analysis of reservoir performance. Three new discoveries offshore Guyana in 2017 also contributed to the by-the-bit resource additions.

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