((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))
(Added quotes and context in paragraphs 4-7) by Ron Bousso and Robert Harvey
LONDON, Nov 26 – U.S. oil and gas producers are unlikely to radically increase production under President-elect Donald Trump as companies remain focused on capital discipline, a top Exxon Mobil XOM executive said Tuesday. N.
“We won’t see anyone in ‘drill, baby, drill’ mode,” Liam Mallon, head of Exxon’s upstream division, said at the Energy Intelligence Forum conference in London.
“It is unlikely that we will see a radical change (in production) because the vast majority, if not everyone, is focused on the economic aspects of what they do,” he added. .
“Maintaining discipline, quality and information will naturally limit the rate of growth
Easing the licensing procedure could boost production in the short term, he added.
On the campaign trail, Mr. Trump pledged to boost domestic oil and natural gas production. Reuters reported Monday that his transition team was developing a sweeping energy program that is expected to be implemented within days of taking office.
The United States is already the world’s top oil producer following a surge in shale oil production, with more than 13 million barrels per day at the start of the year.
Belgium
