Exxon Mobil (XOM) Spending $27 billion On 2010 Capital Projects

Oil giant Exxon Mobil Corporation (NYSE: XOM) announced on Thursday at a meeting with analysts at the New York Stock Exchange that the company would spend $25 billion to $30 billion per year on capital projects through 2014.

For 2010, Exxon Mobil plans to spend $27 billion on capital projects, a slight increase after spending $26 billion in 2009.

While spending on exploration and production will see increases in 2010, Exxon Mobil said that spending on refining and marketing will remain about the same as in 2009.