ExxonMobil to Stay Committed to Pursuing Mideast Opportunities

ExxonMobil said its pipeline of liquefied natural gas (LNG) projects would diversify its production away from the Middle East, but the company said it remains committed to pursuing opportunities in the region because of its long-term importance to global energy markets.

"We won't shy away from the region," CEO Darren Woods said on the company's post-earnings conference call, adding that the region would remain an important source of natural gas.

The company hopes to make a final investment decision on its Mozambique LNG project later this year and expects to sanction its Papua New Guinea LNG project during the same period.