Exxon, Occidental projects at risk due to DOGE cuts, WSJ reports

TipRanks

Fri, Apr 18, 2025, 9:15 AM 1 min read

The Energy Department is preparing dramatic cuts that could halt nearly $10B in federal funding for clean-energy projects and upend government contracts with energy companies working on hydrogen, carbon capture, long-duration energy storage and other technologies, according to department memos reviewed by The Wall Street Journal. The $10B sum reflects potential funding cuts in two DOE offices and likely a slice of the DOGE-driven cancellations under consideration across the Energy Department, current and former officials told The Journal’s Jennifer Hiller. High profile partnerships with Exxon Mobil (XOM) and Occidental Petroleum (OXY) are among the projects at risk, the report said. Other publicly traded companies in the energy and clean energy space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Shell (SHEL), TotalEnergies (TTE), Array Technologies (ARRY), Canadian Solar (CSIQ), Emeren (SOL), FTC Solar (FTCI), First Solar (FSLR), JinkoSolar (JKS), Maxeon Solar (MAXN), Shoals Technologies (SHLS), SolarEdge (SEDG), SunPower (SPWR) and GE Vernova (GEV).

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