Exxon Slashes Spending, Writes Down Assets
An abundance of fossil fuels combined with advances in technology to harness wind and solar power has sent energy prices crashing around the world. WSJ explains how it all happened Continue Reading
Is Exxon’s Dividend Too High To Justify?
The energy sector has emerged as the best performer over the past few weeks, with WTI crude prices climbing to their highest level in nearly eight months thanks to a Continue Reading
ExxonMobil calls off sale of assets in Australia’s Bass Strait: AFR
ExxonMobil has called off the potential multibillion-dollar sale of its oil and gas assets in Australia’s Bass Strait, according to the Australian Financial Review. The decision by the U.S. oil Continue Reading
Exxon Documents Reveal More Pessimistic Outlook for Oil Prices
An abundance of fossil fuels combined with advances in technology to harness wind and solar power has sent energy prices crashing around the world. WSJ explains how it all happened Continue Reading
COVID Forces Exxon To Slash Oil Price Forecast
In the wake of the pandemic, ExxonMobil has significantly lowered its expectations about oil prices for the next seven years, expecting Brent Crude to average between $50 and $55 a Continue Reading
The fall of an empire
The decline of ExxonMobil has been remarkable in its magnitude and unexpectedness. Why it matters: While all major oil companies are facing troubles, Exxon has fallen the farthest, in large Continue Reading
Exxon Posts Third Consecutive Quarterly Loss for First Time
Exxon Mobil Corp. posted its third consecutive quarterly loss for the first time on record Friday and disclosed that it may write down the value of natural-gas assets worth as Continue Reading
Exxon Flags Possible $30B Writedown After Third Straight Loss
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 Continue Reading
Exxon Fails To Raise Dividend For The First Time In 38 Years
ExxonMobil is keeping its quarterly fourth-quarter dividend flat at $0.87 per share – the first time in 38 years that the company has failed to increase the dividend that it Continue Reading
Exxon Job Cuts: 1,900 Positions in U.S.
Exxon Mobil Corp. will slash its global workforce by 15% by the end of 2022, an unprecedented culling by North America’s biggest oil explorer as it struggles to preserve dividends. The Continue Reading