Core Viewpoint - ExxonMobil's CEO Darren Woods warned that the company may be forced to exit the EU market if the European Union does not amend the current Corporate Sustainability Due Diligence Directive [2] Group 1: Regulatory Concerns - The EU's Corporate Sustainability Due Diligence Directive, approved last year, imposes mandatory due diligence requirements related to environmental factors on large companies operating in the EU [2] - Companies that violate these requirements could face fines of up to 5% of their global revenue [2]

Core Viewpoint - ExxonMobil's CEO Darren Woods stated that the company may be unable to continue operations in the EU if the bloc does not significantly relax a sustainable development law that mandates companies to address human rights and environmental issues in their supply chains [1][2] Group 1: Regulatory Concerns - The EU's Corporate Sustainability Due Diligence Directive requires companies to identify and mitigate risks related to human rights and environmental damage, imposing fines of 5% of global revenue for non-compliance [1] - Woods emphasized that the current regulatory environment in Europe is overly burdensome and detrimental to economic growth, warning that the law could further suppress growth [2] Group 2: Industry Response - Major gas producers, including Qatar and the U.S., have urged European leaders to reconsider the law, claiming it threatens reliable and affordable energy supplies to Europe [2] - ExxonMobil and other companies are advocating for the complete repeal of the policy, arguing it could lead to corporate exits from Europe [2] Group 3: Business Developments - ExxonMobil has signed an agreement to assist Iraq in developing the Majnoon oil field and expanding oil exports, marking the company's return to the country after two years [2] - Woods mentioned that negotiations regarding the final parameters of the development project are ongoing, particularly concerning how ExxonMobil will be compensated [2]

Core Viewpoint - The article discusses how U.S. oil executives are leveraging trade negotiations with the EU to push for the repeal of key climate regulations under the European Green Deal, with support from the Trump administration [1] Group 1: U.S. Oil Industry Actions - U.S. oil giants and their lobbyists are urging the Trump administration to use ongoing trade talks with the EU to eliminate two major climate laws [1] - The push is part of a broader strategy to counteract EU efforts to reduce reliance on fossil fuels and curb emissions [1] Group 2: Specific Regulations Targeted - One of the targeted laws is the Corporate Sustainability Due Diligence Directive (CSDDD), which mandates companies with annual revenues exceeding €450 million (approximately $522 million) to clarify and mitigate human rights abuses and climate impacts in their operations and global supply chains [1]