Exxon Mobil’s recently appointed board of directors is debating whether to continue with several fossil fuel projects, including a multibillion-dollar gas project in Vietnam, The Wall Street Journal reported on Thursday.
The US energy giant is reconsidering its investment strategy, the WSJ said, citing people familiar with the matter. Members of the board — which includes three directors successfully nominated by an activist investor in May and two other new members — have expressed concerns about certain projects, including a $30 billion liquefied natural gas development in Mozambique.
However, oil and gas prices are at multiyear highs, and the world is experiencing a shortage of fossil fuels as economies emerge from the pandemic, the paper noted.
Read the full story: The Wall Street Journal