The Globe and Mail reports in its Thursday edition that Exxon Mobil said in an update it will target annual project spending of between $22-billion and $27-billion through 2027 (all figures U.S.). A Reuters dispatch to The Globe reports that Exxon laid out plans to boost spending on nascent lithium and low carbon businesses by 18 per cent throughout 2027. Exxon, however, left out details of projected gains from its acquisition of Pioneer Natural Resources that is expected be completed in the first half of 2024. Exxon said most profits from its push into energy transition businesses would come after 2027. Profits from those units also will depend on government help through regulations and infrastructure. Chief executive officer Darren Woods said: "All those things are coming together. But until they ultimately land, and we know what we've got," the outlook will remain "less certain." This year's outlook was keenly anticipated because of deals for Pioneer and carbon pipeline firm Denbury, both of which will underpin long-range targets. Exxon announced plans to buy Pioneer in October, saying it plans to more than triple its production in the top U.S. shale field to two million barrels a day by 2027.