Exxon Mobil Launches Carbon Capture Project in Louisiana
Written by Emily J. Thompson, Senior Investment Analyst
Source: seekingalpha
- Project Launch: Exxon Mobil (XOM) has commenced a carbon capture and storage project with CF Industries (CF) in Louisiana, aiming to transport and store up to 2 million metric tons of CO2 annually, marking a significant step in the company's low-carbon technology initiatives.
- Customer Expansion: Exxon has signed agreements with AtmosClear and Lake Charles Methanol II to transport and store a combined 2 million metric tons of CO2 from their projects, increasing its CCS customer base to six and bringing the total contracted CO2 volume to approximately 9 million tons per year.
- Future Developments: The company plans to advance multiple CCS projects across Texas and Louisiana, targeting a final investment decision on its first low-carbon data center by the end of 2026, demonstrating its commitment to sustainable development.
- Collaborative Prospects: Exxon is also set to begin CCS operations with Linde (LIN) and Nucor (NUE) later this year, further enhancing its market position in carbon management.
Analyst Views on XOM
Wall Street analysts forecast XOM stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for XOM is 132.17 USD with a low forecast of 114.00 USD and a high forecast of 158.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
19 Analyst Rating
12 Buy
7 Hold
0 Sell
Moderate Buy
Current: 134.970
Low
114.00
Averages
132.17
High
158.00
Current: 134.970
Low
114.00
Averages
132.17
High
158.00
About XOM
Exxon Mobil Corporation is an energy provider and chemical manufacturer. The Company’s principal business involves exploration for, and production of, crude oil and natural gas; the manufacture, trade, transport and sale of crude oil, natural gas, petroleum products, petrochemicals and a wide variety of specialty products; and pursuit of lower-emission and other new business opportunities, including carbon capture and storage, hydrogen, lower-emission fuels, Proxxima systems, carbon materials, and lithium. Its Upstream segment explores for and produces crude oil and natural gas. The Energy Products, Chemical Products, and Specialty Products segments manufacture and sell petroleum products and petrochemicals. Energy Products segment includes fuels, aromatics, and catalysts and licensing. Chemical Products segment consists of olefins, polyolefins, and intermediates. Specialty Products segment includes finished lubricants, basestocks and waxes, synthetics, and elastomers and resins.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
