New Exxon CEO says company will boost production

By The Associated Press

The new CEO of Exxon Mobil says the company will increase production and has a mix of projects that will let Exxon respond to any level of oil and gas prices.

 

NEW YORK (AP) — The new CEO of Exxon Mobil says the company will increase production and has a mix of projects that will let Exxon respond to any level of oil and gas prices.

Darren Woods also said Tuesday at a meeting with investors that Exxon is committed to increase its dividend and will buy back shares when the company has extra cash.

Wall Street is concerned about slow growth and falling profits at Exxon. To allay those concerns, Woods said the company will boost production 2 percent a year from 2016 through 2020.

The shares are up $1.59, or 2 percent, to $82.91 in late-morning trading.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

A Traders Guide to Analysis and Research

An e-book dedicated to helping you improve your analysis by looking at RBOB futures performance. ...

Storm Impact Analytics for Utilities

In recent years, increasingly volatile and extreme weather events have significantly impacted the...

Reach New Heights: Six Best Practices in Planning and Scheduling

These 6 best practices have created millions of dollars in value for many global companies. Learn...

Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs