ExxonMobil ups low-carbon investment by 14pc
US oil major’s scope three emissions push to focus on large-scale CCS, hydrogen and biofuels
US oil major ExxonMobil has increased its projected investment in low-carbon projects over the next five years by 14pc compared with previous guidance for the period. The company announced in an updated five-year business plan that $17bn has been allocated to growing its low-carbon solutions business through 2027. Total annual capex across all parts of ExxonMobil’s business over the next five years is projected at $20–25bn. The low-carbon investments will be aimed at projects to cut customers’ emissions, with a “primary emphasis” on large-scale carbon capture and storage, biofuels, and hydrogen. $17bn – Low-carbon capex in 2022–25 The balance of the capital will be deployed in suppor
![](/images/white-fade.png)
Also in this section
21 July 2024
Awards experience 20% increase in nominations this year, with submissions from 27 countries
18 July 2024
Platform developed at Scottish university uses advanced simulations and machine learning to find most cost-effective and sustainable combinations of materials for use in carbon capture
18 July 2024
Stockholm Exergi agrees to one of world’s largest deployments of CO₂ liquefication technology to enable transport of emissions captured from biomass power plant
11 July 2024
Watkins will leverage her financial acumen and strategic insight to lead Gulf’s commercial initiatives across media, events, and market intelligence