ExxonMobil

Exxon plans $50-bln US investment

USA

HOUSTON, January 30, 2018 – ExxonMobil is planning to significantly ramp up its investments in the USA in the wake of recent tax reforms, Darren Woods, the super-major’s chairman and CEO, said in a blog post on Monday.

 

“At ExxonMobil, we plan to invest more than USD 50 billion over the next five years to expand our business in the United States,” Woods wrote.

“For instance, we will be investing billions of dollars to increase oil production in the Permian Basin in West Texas and New Mexico, expand existing operations, improve infrastructure and build new manufacturing sites. […] These are all possible because of the resource base developed by our industry, along with sound tax and regulatory policies that create a pro-growth business climate here in the USA.”

About USD 35 billion of the USD 50 billion is allocated to projects that have not previously been made public, Reuters reported, citing ExxonMobil’s spokesman Scott Silvestri.

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