ExxonMobil to add 1m bbl of oil equivalent production through '17

06 March 2013 15:34  [Source: ICIS news]

NEW YORK (ICIS)--US-based ExxonMobil expects major oil and gas project start-ups to deliver 1m bbl of oil equivalent through 2017, its chairman and CEO said on Wednesday.

Crude oil and other liquids production is expected to rise by an average of 4%/year between 2013 and 2017 as the company starts production on 28 major oil and gas projects, according to the company.

ExxonMobil will invest $190bn (€146bn) during this period to boost production.

“An unprecedented level of investment is needed to develop new energy technologies to expand supply of traditional fuels and advance new energy sources,” said chairman and CEO Rex Tillerson at ExxonMobil’s annual analyst day at the New York Stock Exchange.

($1 = €0.77)

By: Joseph Chang
+1 713 525 2653

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly