Exxon Mobil Corporation (XOM.US) shrinks European front, CEO praises Trump's energy policy.

Recently, Exxon Mobil Corporation (XOM.US) CEO Darren Woods once again criticized the European Union's energy policies, while expressing admiration for US President Trump's energy policy. The Texas-based oil and gas giant is slowing down its investments in Europe and selling assets. Woods stated that the EU's regulatory measures in climate and human rights are "slowing down business processes, and attempting to impose impractical solutions". These remarks continue his strong criticism of the EU's "Corporate Sustainability Due Diligence Directive" last month - at that time he described the directive as having a "devastating" impact. In contrast, Woods pointed out at the "Energy Intelligence Forum" held in London on Monday that Trump is promoting "a more balanced policy discussion", and "clearly recognizes the critical role that energy sources play in economic growth and the daily well-being of the people". Despite receiving such political support, Woods admitted to the audience that Exxon Mobil Corporation is concerned about the expected slowdown in US shale oil production growth. He stated that if the company can break through the current shale reservoir's 10% recovery rate limit, this trend may be reversed. Regarding Exxon Mobil Corporation's return to Iraq - the company recently signed an agreement related to the Majnoon oil field last week - Woods revealed, "There is still a long way to go to make the project effective".