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Exxon Mobil forecasts higher capital spending
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Exxon Mobil forecasts higher capital spending
Dec 11, 2024 4:32 AM

Dec 11 (Reuters) - Exxon Mobil ( XOM ) said on Wednesday

it expects annual project spending of $28 billion and $33

billion between 2026 and 2030, bolstered by the acquisition of

Pioneer Natural Resources.

The top U.S. oil producer aimed to more than triple its

production in the Permian, the top U.S. shale field, to 2

million barrels per day (bpd) by 2027 when it announced the

nearly $60 billion deal for Pioneer.

(Reporting by Mrinalika Roy in Bengaluru; Editing by Sriraj

Kalluvila)

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