The Irving, Texas-headquartered giant is to spend $34 billion this year compared to an outlay of $38.5 billion in 2014.
Capital expenditure is expected to average less than $34 billion per year in 2016 and 2017, ExxonMobil said in a presentation to analysts.
The company plans to achieve the capital cutbacks by reducing spending on upstream and by focusing downstream and chemical spending on attractive investments.
The
