ExxonMobil is boosting its capital investments over the next five years around the world, prioritizing the Permian Basin, Brazil, Guyana and LNG, with a “sizable increase” in lower-emissions initiatives, executives said Thursday.


The corporate plan through 2027 would hold annual capital expenditures (capex) at $20-25 billion, while growing lower-emissions investments by nearly 15% to $17 billion. Compared to 2019, earnings and cash flow are forecast to double by 2027.

“For too long, the conventional wisdom about ExxonMobil was that we had to make a choice between meeting the world’s energy needs or playing a leading role in the energy transition,” CEO Darren Woods said during a webcast to lay out the spending plans. 

“That view has always been flawed. The fact is,...