ExxonMobil CEO Sees Long‑Term Role for Oil & Gas — Just Not Necessarily as Fuel

ExxonMobil CEO Darren Woods told Reuters that oil and gas will remain “a critical role in everybody’s life for a long time to come.” However, he added the more pressing question now is whether those hydrocarbons will continue to be burned as fuel. Woods argued that while the world may eventually stop combusting hydrocarbons for energy use, the materials derived from oil and gas — say in medical equipment or other non‑fuel applications — are likely to endure. He also emphasized the need for “ledger‑based” carbon accounting to give real credibility to net‑zero claims, noting that policy‑makers often act without a full emissions picture. Woods made the comments on the sidelines of the COP30 summit in Brazil, and highlighted Exxon’s early‑stage plans to return to Iraq via a preliminary agreement on the Majnoon oil field. #OilAndGas #EnergyTransition #CarbonAccounting #ExxonMobil #SlimScan #GrowthStocks #CANSLIM