U.S. supermajor ExxonMobil maintains its strategy for capital expenditures between US$30 billion and US$35 billion each year through 2025, chairman and CEO Darren Woods said at the company’s annual investor day on Thursday, even though oil prices have tumbled by 25 percent since the start of the year. This year, Exxon sees its investments at around US$33 billion, depending on the progress of individual projects, Woods told analysts at the New York Stock Exchange today. Exxon has been one of the few international oil majors that have ramped up spending levels over the past two years, aiming to grow production and shareholder value. Most other supermajors continue to stick to tight capital discipline after the 2014 oil price crash put an end to the enormous capital budgets in the oil industry. Exxon is focusing on several key growth areas to boost oil and gas production over the next few […]