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Woods dismissed antitrust concerns regarding the Pioneer acquisition, pointing to Exxon’s relatively small global and U.S market share, which he believes will lead to smooth regulatory proceedings. He also mentioned proactive engagements with the Biden administration, aiming to balance environmental concerns with a reliable energy supply.
In light of potential policy changes post-elections, such as those impacting the Inflation Reduction Act, Exxon is maintaining its focus on responsible energy production. Woods emphasized the company’s leadership role in emissions reduction initiatives among national oil companies.
Additionally, Woods spoke about how Exxon Mobil is aiding Guyana by efficiently producing oil during its border conflict with Venezuela over Essequibo. The region has been under Venezuelan nationalist scrutiny ahead of their presidential vote in 2024. The boundary dispute escalated following Exxon’s discovery of oil off the shores of Guyana seven years ago.
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