Exxon Mobil suspended plans to build one of the world's largest hydrogen production plants at its Baytown, Texas refining complex, originally announced in 2022 to produce 1 billion cubic feet of blue hydrogen daily. CEO Darren Woods cited weak consumer demand driven by higher costs, slowing European industrial growth, & economic uncertainty as reasons for the suspension. Exxon & partner Abu Dhabi National Oil Company have already invested approximately $500 million in the project, which has a total estimated cost of several billion dollars. The company may restart the project if market conditions improve, though timing remains uncertain.