Tuesday, February 11, 2025
New Wave Media

November 26, 2024

US Oil Focused on Economics, not 'Drill, Baby, Drill' - Exxon Mobil Exec

Copyright phjacky65/AdobeStock

Copyright phjacky65/AdobeStock

U.S. oil and gas producers are unlikely to radically increase production under president-elect Donald Trump as companies remain focused on capital discipline, a senior executive at Exxon Mobil said.

"We're not going to see anybody in 'drill, baby, drill' mode," Liam Mallon, head of Exxon's upstream division, told the Energy Intelligence Forum conference in London.

"A radical change (in production) is unlikely because the vast majority, if not everybody, is focused on the economics of what they're doing," he said. "Maintaining the discipline, driving the quality, driving the information, will naturally limit that growth rate."

Relaxing of the land permitting processing could provide a short-term boost to production, he added.

Trump pledged during the election campaign to boost domestic oil and natural gas output. Reuters reported on Monday that his transition team is putting together a wide-ranging energy package to roll out within days of his taking office.

The U.S. is already the world's top oil producer following a surge in shale oil production, pumping over 13 million barrels per day earlier this year.

(Reuters)

The West Hercules platform oil rig moored off the coast of Newfoundland, with the supply vessel Atlantic Kingfisher is offloading supplies onto the rig. Copyright Dolores Harvey/AdobeStock

Subsea Vehicle technology is front and center in MTR, with a focus on increased levels of autonomy, reliability and flexibility.
Read the Magazine Sponsored by

Reality Capture for Safer Marine Terminal Inspections

Marine Technology Magazine Cover Jan 2025 -

Marine Technology Reporter is the world's largest audited subsea industry publication serving the offshore energy, subsea defense and scientific communities.

Subscribe
Marine Technology ENews subscription

Marine Technology ENews is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for MTR E-news