news conference: REUTERS/Brendan McDermid/File Photo Exxon shares fell more than 1 percent after the company told analysts attending its annual investor meeting that it plans to lift spending by 10 percent or more for the next several years as rivals are sidelining equipment and capping spending to boost shareholder returns, according to The Independent. Woods defended the strategy of leaning in as our competitors are leaning back, saying the best time to buy into projects is not when everyone else is active. Darren Woods, Chairman & CEO of Exxon Mobil Corporation attends a news conference at the New York Stock Exchange NYSE in New York, U.S., March 1, 2017. You do it when everybody else is at home, Woods said. Exxon shares finished down 91 cents at 79.28 on Wednesday. Exxon's plans include a big bet on U.S. shale, where output has surged in recent years, making the United States the world's largest oil producer.
(news.financializer.com). As
reported in the news.
Tagged under news conference, woods topics.