Exxon Hikes Spending, Cuts Break-Even Costs

摘要

Exxon Mobil will raise its capital spending by roughly 35% this year as it gets back to work on projects aimed at lowering its break-even cost to under $35 Brent. Exxon said Tuesday that it will invest $21 billion-$24 billion across its integrated operations this year, up from a multiyear trough of $16.6 billion in 2021. The sharp uptick is in line with Exxon's medium-term guidance, which envisions $20 billion-$25 billion in annual capital expenditure through 2027.