ExxonMobil Senior Vice President of Global Operations Janet Matsushita says the oil producer's new expansion project is providing the economy with "much needed" affordable energy.

ExxonMobil is expanding into the lithium business, with the company aiming to be a “leading producer” of the metal by drilling and processing lithium at a site in Arkansas.

ExxonMobil said it completed its deal to buy Pioneer Natural Resources valued at nearly $60 billion after U.S. regulators set conditions. Including debt, ExxonMobil is committing about $64.5 ...