ExxonMobil touts US shale in strategy pivot

摘要

ExxonMobil's new chief executive, Darren Woods, has unveiled a pivot in the firm's investment strategy that could lead to its US shale business and other shortcycle projects accounting for up to half of upstream capital expenditure (capex). At the heart of the shift is ExxonMobil's desire to create an investment programme that is "flexible" and can "change with the business environment", Woods says. "Our short-cycle investment is giving us the flexibility that we did not have when most of our projects were long cycle," he says.