ExxonMobil ( NYSE: XOM ) warned on Friday that it could write down North American natural gas assets with a carrying value of up to US$30 billion as it reported its third consecutive loss this year amid low oil demand and oil prices. Exxon is currently re-assessing its portfolio to decide which assets with the highest potential to create value should be developed, the U.S. supermajor said in its Q3 earnings release . “Depending on the outcome of the planning process, including in particular any significant future changes to the corporation’s current development plans for its dry gas portfolio, long-lived assets with carrying values of approximately $25 billion to $30 billion could be at risk for significant impairment,” Exxon said, flagging the possibility of major writedowns. Unlike other major oil corporations, Exxon hasn’t yet adjusted the value of its assets during the pandemic. In fact, Exxon hasn’t been doing […]