ExxonMobil will invest more than $100 billion through 2030 to boost global energy supply, CEO Darren Woods said. The company plans $100 billion of spending from 2027–2030 across its global businesses, with roughly 10% earmarked for refining. Woods said high prices reflect supply shortages and warned that windfall-style taxes or penalties would create uncertainty and deter future investment, urging critics not to undermine incentives to increase supply. The announcement follows a strong quarterly

ExxonMobil will invest more than $100 billion through 2030 to boost global energy supply, CEO Darren Woods said. The company plans $100 billion of spending from 2027–2030 across its global businesses, with roughly 10% earmarked for refining. Woods said high prices reflect supply shortages and warned that windfall-style taxes or penalties would create uncertainty and deter future investment, urging critics not to undermine incentives to increase supply. The announcement follows a strong quarterly result.