Exxon Mobil to launch 20 new projects


Exxon Mobil to launch 20 new projects

Filed under: Forecasts, Management, Exxon Mobil (XOM)As Exxon Mobil Corp (NYSE: XOM) looks to the future, they are seeing some good times ahead. The company is planning on starting an impressive 20 new projects globally over the next three years.All in all the company plans to add around one million barrels a day of production with the new projects, but this won't come cheap for the world's largest traded company. According to Chairman and CEO Rex Tillerson, Exxon is going to be spending about $20 billion a year through 2010 on capital expenditures. This is about a 25% jump from the $16.2 billion spent during 2006.Last year Exxon Mobil put up the largest ever annual profit for a U.S. company of $39.5 billion and had a return on ...

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