Why Exxon Mobil Corporation Keeps Investing in Decarbonizing Oil Operations Rather than Trying Energy Transition?
Keywords:
decarbonization, energy transition, finance, oil, Exxon Mobil, case study, ChinaAbstract
The aim of this case study is to compare two opposite pathways, including both decarbonization and energy transition and tries to find out the reasons why Exxon Mobil Corporation (NYSE: XOM) insists on investing in decarbonizing oil operations rather than trying energy transition from the perspective of cost-effective, and provides some new ideas and practical experience for oil companies in the choice of pathways, to accelerate countries to achieve the goal of net-zero emissions. ExxonMobil Corporation and Shell plc, two Western oil giants with branches in China, are selected as research objects. Cost-effective analysis, correlation analysis, and comparative analysis were applied to study four research objectives. The 2019.4.4 version of Tableau data analysis software is used as the data analysis tool. According to the prediction results, compared with the C/E ratio of Shell's energy transition path, ExxonMobil's C/E ratio is slightly higher. However, compared with the cost-benefit before establishing the low-carbon solution business, it is still much lower. From the perspective of correlation analysis, Pearson's correlation coefficient reaches about 0.88, which reveals a strong positive relationship between the cost and net profit from 2021 to 2027. At the same time, the P value in the linear regression curve is less than 0.05, and the value of R is greater than 0.4, showing high goodness of fit. The figures and tables will be shown in paper 4. It can be seen that the development of CCS has a good impact on the net profit of ExxonMobil Corporation. The conclusion is that ExxonMobil could consider continuing to invest in this technology.
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