ExxonMobil: priorizing high value assets
(CercleFinance.com) - After completing a review of its forward business plans, ExxonMobil said on Monday evening, that it will "prioritize near-term capital spending on advantaged assets with the highest potential future value".
Among these, the energy giant is highlighting developments in Guyana and the Permian Basin in the US, targeted exploration in Brazil and projects in chemicals, aiming to develop high value performance products.
The group said that its capex and exploration investments are expected to be 16-19 billion dollars in 2021, followed by 20-25 billion dollars per year through to 2025. The withdrawal of certain assets that are deemed less strategic will result in an impairment of 17-20 billion dollars.
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