Exxon Mobil Corp Q3 2021 Earnings Call Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Paul Cheng - Scotiabank Global Banking and Markets, Research Division - Analyst : Two questions, please. First is for Kathy. And maybe let me add my welcome to the energy land. You are the first person from outside who joined the company management committee. And also that quite frankly for the past say 30 years, Exxon didn't have an official CFO role. So after you joined, after you've been there for several months, how do you think about the process in the project FID and M&A as well as the criterion? Do you see there's room for change or adjustment? Or that you think the current process is pretty good, and you don't really have any changes that need to be made? So that's the first question. For the second question for Darren now.] when we're looking at your CapEx has always been, for at least that for the past 18 months, at $20 billion, $25 billion for the next several years. So you maintained that, but your spending for the low carbon is going to be increased by call it roughly $2 billion a year; from previously maybe $500 million, $600 million, to say $2.5 billion now. So is the incremental spending is all being absorbed, because you're doing better in other business and be able to squeeze all the saving out? Or that some legacy project has been pushed out? If they are, what are those? And what does the low-carbon business that you're targeting I think at 10%-plus return, is it going to be better than the project that you pushed out? And what we noted is (inaudible) is noticeable missing in your press release when you're talking about the strategic investment. Can you give an update on that?