• 08/03/2012
  • |     BB

ExxonMobil Plans Energy Investment of $185 Billion

ExxonMobil plans to invest approximately $185 billion over the next five years to develop new supplies of energy to meet expected growth in demand, Chairman and CEO Rex W. Tillerson says.

Trefwoorden: #exxonmobil

Lees verder

Nieuws

ENGINEERINGNET.EU -- “During challenging times for the global economy, ExxonMobil continues to invest to deliver the energy needed to underpin economic recovery and growth,” Tillerson said in a presentation to analysts.

Tillerson said that even with significant efficiency gains, ExxonMobil expects global energy demand to increase by 30 percent by 2040, compared to 2010 levels.

Demand for electricity will make natural gas the fastest growing major energy source and oil and natural gas are expected to meet 60 percent of energy needs over the next three decades.

To help meet that demand, ExxonMobil is anticipating an investment profile of approximately $37 billion per year through the year 2016.

A total of 21 major oil and gas projects will begin production between 2012 and 2014. In 2012 and 2013, the company expects to start up nine major projects and anticipates adding over 1 million net oil-equivalent barrels per day by 2016. (picture: ExxonMobil)