The Chairman and CEO of ExxonMobil, Darren Woods has revealed that the company plans to invest more than $50bn over the next five years to expand the company’s business in the U.S.
In a personal blog post he said the “investments are underpinned by the unique strengths of our company and enhanced by the historic tax reform recently signed into law.”
He said several companies have announced plans to invest in the U.S., partly as a result of tax reform.
He added that the company will be investing billions of dollars to increase oil production in the Permian Basin in West Texas and New Mexico, expand existing operations, improve infrastructure and build new manufacturing sites.
“This will create thousands of jobs, strengthen the U.S. economy and enhance energy security. This comes on top of our massive build-out of operations along the Gulf Coast where we are investing billions of dollars and creating tens of thousands of high paying jobs on a number of major chemical, refining and lubricant projects.
For more information visit www.exxonmobil.com
31st Jan 2018
