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Dec. 1, 2021, 7:32 a.m. EST

Exxon Mobil to boost spending on greenhouse gas reduction projects to $15 billion through 2027

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By Tomi Kilgore

Exxon Mobil Corp. /zigman2/quotes/204455864/composite XOM +1.76% said Wednesday that it has finalized its corporate plans to 2027, including increased spending on greenhouse gas emission-reduction projects to $15 billion over the next six years. The company said it also plans to maintain "disciplined capital investments," keeping that in the range of $20 billion to $25 billion per year through 2027. "The support the corporate strategy of continued structural cost savings, investment in low-cost-of-supply and lower-emission products, and further portfolio high-grading, positioning the company to double earnings and cash flow by 2027 versus 2019," the oil giant stated. The stock rose 2.1% in premarket trading, and crude oil futures /zigman2/quotes/209723049/delayed CL00 +0.08% bounced 4.7% off Tuesday's 3-month closing low. Exxon Mobil's stock has rallied 45.2% year to date through Tuesday, while the SPDR Energy Select Sector ETF /zigman2/quotes/206420077/composite XLE +2.35% has run up 44.0% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.08% has advanced 21.6%.

/zigman2/quotes/204455864/composite
US : U.S.: NYSE
$ 71.87
+1.24 +1.76%
Volume: 0.00
Jan. 14, 2022 4:02p
P/E Ratio
N/A
Dividend Yield
4.90%
Market Cap
$304.27 billion
Rev. per Employee
$3.40M
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/zigman2/quotes/209723049/delayed
US : U.S.: Nymex
$ 83.89
+0.07 +0.08%
Volume: 19,748
Jan. 17, 2022 4:11a
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/zigman2/quotes/206420077/composite
US : U.S.: NYSE Arca
$ 64.51
+1.48 +2.35%
Volume: 0.00
Jan. 14, 2022 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,662.85
+3.82 +0.08%
Volume: 0.00
Jan. 14, 2022 5:16p
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