ExxonMobil says low-carbon business could one day eclipse oil and gas

ExxonMobil’s new low-carbon businesses could one day be more lucrative than its fossil fuel production, a top executive said, as the US oil major laid out ambitious plans to generate tens of billions of dollars from biofuels, hydrogen and carbon capture within a decade.

The Texas-based oil producer on Tuesday gave investors the most comprehensive view yet of its energy transition plans, saying it expects to profit from carbon-cutting technologies even as it expands oil and gas output.