Exxon says its decarbonization business could outgrow oil, in multi-trillion market

in revenue and outperform the company's traditional oil and gas as soon as a decade from now, CEO Darren Woods said.

"This business is going to look quite a bit different than the base business of Exxon Mobil," vowed Dan Ammann, president of Exxon's two-year-old Low Carbon Business Solutions unit. "It is going to have a much more stable, or less cyclical, profile." Unlike its peers, Exxon has stayed away from renewable energy like solar and wind. Its energy transition plans lean heavily on reducing carbon emissions from its own operations, which Exxon is spending $10 billion by 2027 to implement.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Spring housing market ‘stalling’ as record low inventory plagues buyersChicago-area buyers are facing low levels of available homes. More sellers are on the sidelines because of high mortgage rates and fears that the tight supply of homes might make it difficult for them to find a place to live.
Source: chicagotribune - 🏆 8. / 91 Read more »

Japan's business mood sours to 2-year low as global slowdown bites - tankanJapan's business sentiment soured in January-March to hit the worst level in more than two years, a closely-watched central bank survey showed on Monday, as slowing global growth clouds the outlook for the export-reliant economy. Meanwhile, Japan is imposing sanctions on its biggest trading partner
Source: Reuters - 🏆 2. / 97 Read more »