Lates News

ExxonMobil, a Texas-based oil giant, stated that it plans to drive the growth of its fossil fuel business in the long term to meet what it believes will be an energy demand that "will not undergo substantial changes" between now and 2050. The company is not interested in "chasing weekly headlines" but will instead invest in oil and gas projects that it believes will still be needed in the coming decades. The company's upstream business president, Dan Ammann, stated that Exxon plans to double its sales of liquefied natural gas by 2030 and heavily invest in oil production capacity growth in Guyana and the Permian Basin. "We take a long-term view based on fundamentals and make investments accordingly," Ammann said. "Our long-term assessment of the global energy landscape is that energy demand will continue to grow."