By Matt Grossman

Exxon Mobil Corp. said Wednesday that it plans to invest up to $25 billion annually over the next five years to expand its upstream operations and in products such as biofuels and lubricants.

ExxonMobil said it is also aiming to save about $9 billion a year by 2023 compared with 2019, a move it said could double its earnings by 2027 compared with 2019 levels.

The Irving, Texas-based energy company said it will spend more than $15 billion over the next six years in its efforts to reduce greenhouse-gas emissions.

The projections were released as part of an event for the company's investors.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

March 02, 2022 07:07 ET (12:07 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
Exxon Mobil (NYSE:XOM)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024 Plus de graphiques de la Bourse Exxon Mobil
Exxon Mobil (NYSE:XOM)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024 Plus de graphiques de la Bourse Exxon Mobil