US Supermajors Push Oil and Gas’ Importance in Low-carbon Strategies

Industry giants Chevron and Exxon Mobil are making heavy investments in low-carbon solutions in pursuit of decarbonization goals but aren’t abandoning oil and gas advancements.

US Supermajors Push Oil and Gas’ Importance in Low-carbon Strategies

At the 23rd World Petroleum Congress held in Houston, Exxon Mobil CEO Darren Woods (top) and Chevron CEO Mike Wirth (bottom) detailed low-carbon strategies that included investment in innovation for renewables and fossil fuels, contrary to the consensus surrounding the path to net-zero emissions. (Source: Shutterstock.com/Hart Energy/CNBC)

Oil and gas companies in the industry have rolled out a variety of measures to achieve their net-zero goals, however, top executives from Exxon Mobil Corp. and Chevron Corp. revealed plans that focus on advancements for both renewables and fossil fuels.

Innovation was the theme of the 23rd World Petroleum Congress (WPC), and accordingly, the CEOs of the two U.S. oil majors shared net-zero pathways that depend on both breakthroughs in low-carbon energy solutions and advancements to existing oil and gas infrastructure.

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Mary Holcomb

Mary Holcomb is an Associate Editor for HartEnergy.com's Digital News Group. She contributes to the company’s technology-based content such as subsea, seismic, digital oilfield, etc.