Exxon Mobil Debates Dropping Several Major Oil and Gas Projects

The oil major is also reportedly planning to raise its investment in a low-carbon unit it announced in February by billions of dollars.


Exxon Mobil Corp. board is debating whether to continue with several major oil and gas projects amid a global push from investors for fossil fuel companies to be more cost-conscious and green-energy friendly, Wall Street Journal reported on Oct. 20.

Activist investor Engine No. 1 in May shocked the oil-and-gas industry when three of its four nominees were elected to the board by Exxon shareholders, who were frustrated by weak returns and the company's flagging attention to climate concerns.

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