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ExxonMobil Enters LNG Marine Bunkering Market with Emission-Cutting Initiative
ExxonMobil Enters LNG Marine Bunkering Market with Emission-Cutting Initiative
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BTCCSquare news:
ExxonMobil ($XOM) is making a strategic pivot into the LNG marine bunkering sector, deploying two new vessels by 2027 to supply LNG and bio-LNG fuels. The MOVE aligns with global efforts to reduce shipping emissions, leveraging partnerships with Avenir LNG and Evalend Shipping.
The 20,000 cu m and 18,000 cu m vessels will operationalize ExxonMobil's low-emission fuel strategy, underscored by Amy Wood's emphasis on scalable solutions. Shares dipped 1% to $111.78 amid broader market reactions.
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