ExxonMobil plans to add production capacity of 340,000 barrels of oil equivalent per day from five major projects over the next two years as it looks to keep production stable despite an uncertain outlook for oil prices.

The US supermajor is projecting a capital budget of $22 billion in 2017 — up more than 15% over 2015 levels — and said capital spending would average about $25 billion through to 2025.

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