ExxonMobil’s low-carbon business has the potential to generate hundreds of billions of dollars in revenue and outperform the company’s traditional oil and gas side as soon as 2033, CEO Darren Woods says.
The largest U.S. oil producer last week laid out to investors the goals of its emerging energy transition strategy in a meeting with Wall Street, Reuters reports. ExxonMobil is tackling what should be a multi-trillion market in 10 years or more, Woods says.
The result will be an ExxonMobil less prone to commodity price swings through predictable, long-term contracts with customers striving to reduce their own carbon footprint. Read the full story.