The People’s Committee of Haiphong (Vietnam) has approved ExxonMobil’s 6 Mt/year LNG import terminal and 2,250 MW gas-fired power plant projects, which would require an investment of US$5.1bn.

Exxon Mobil Corporation announced an estimated second quarter 2020 loss of $1.1 billion,

There is a lot of opportunity for natural gas and LNG to make more of an impact on the global energy mix.

ExxonMobil capital investments for 2020 are now expected to be about $23 billion, down from the previously announced $33 billion.

ExxonMobil is looking to significantly reduce spending as a result of market conditions caused by the COVID-19 pandemic and commodity price decreases,

ExxonMobil is planning capital expenditures of between $30 billion to $35 billion annually through 2025, consistent with previous guidance. For 2020, the company anticipates an investment level of up to $33 billion, depending on the progress of individual projects.

Global energy demand rises by 20 percent; market demand trends differ for OECD and non-OECD

ExxonMobil Earns $14.3 Billion in 2019; $5.7 Billion in Fourth Quarter

Exxon’s shares have underperformed its major rivals’ in recent years. The disposals would help the company increase spending on new developments and appease investors unhappy with weak cash generation and oil output, which flatlined under Woods’ predecessor Rex Tillerson.

ExxonMobil has invested around US$6.5 billion in Upper Zakum oilfield since its involvement in the offshore field in 2006, according to Christian G. Lenoble, President and UAE Lead Country Manager of Exxon (Al-Khalij) Inc.