ExxonMobil Boosts Its Lower-Carbon Investments to $17 Billion. Time to Buy the Oil Giant?
ExxonMobil (NYSE: XOM) unveiled an update of its long-term corporate plan. That strategy will see the company invest an average of $20 billion to $25 billion per year on capital projects through 2027. While that overall spending level hasn't changed from last year's outlook, the company plans to boost its lower-carbon investments to $17 billion over that period. That's a 15% increase from its prior view.
The oil company believes it has a win-win-win plan. It will allow ExxonMobil to meet the world's energy needs, reduce emissions, and reward shareholders.
ExxonMobil's plan aims to strike a balance. It intends to steadily grow its production, earnings, cash flow, and shareholder returns, all while reducing global emissions.
Source Fool.com
