Oil prices are trading at their highest level in years, but the move could be short lived.
But Woods said he doesn't get"overly enamored" about high prices today. When looking at new investments the company focuses on ensuring operations can be competitive across a wide range of price environments.
Exxon said Tuesday it's targeting net-zero greenhouse gas emissions for its operated assets by 2050. The announcement follows similar targets from competitors, and comes as Exxon faces board pressure to shift its operations. In 2021, upstart activist firm Engine No. 1 successfully placedExxon's target does not include so-called Scope 3 emissions, which include the environmental footprint from the products a company generates, as well as the company's supply chain.
Woods said the target is"more than just a pledge" and that the company has a"line of sight" for how it plans to slash its emissions. The company said in a statement that it identified more than 150 potential steps and modifications that can cut emissions across its operations, including electrifying equipment and reducing emissions leaks.
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