ExxonMobil To Invest $150B Over Five Years On Energy Projects

12-08-2009 | Source: World Oil

A senior official from Exxon Mobil Corp. has said that the company plans to invest between $25 to $30 billion annually for the next five years on energy projects.

Speaking at the International Petroleum Technology Conference, currently being held in Doha, Rich Kruger, president of ExxonMobil Production Company, said that his company had planned for price fluctuations in the energy industry and underlined his company’s spending plans.

Kruger also called for greater energy efficiency and said that through the use of better technology 100 million barrels of oil per day could be saved by 2030.