Exxon Set to Surge Ahead of European Competitors in Low-Carbon Investment Race ...Middle East

After years of watching Europe’s Big Oil commit growing shares of capex to low-carbon energy solutions, U.S. supermajor Exxon is now set to overtake Shell and BP in investments planned for low-emission projects. Exxon’s pledge largely depends on the Trump Administration not repealing key provisions in Biden’s flagship Inflation Reduction Act of 2022, which offered incentives to companies developing carbon capture and hydrogen solutions. Still, the U.S. supermajor said in December 2024 it would pursue “up to $30 billion of…

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