Exxon Prepares To Unload North Sea Assets
ExxonMobil is considering moving forward with its sale of some North Sea assets after months of delays, industry and banking sources told Reuters on Thursday. The sale, with the potential Continue Reading
Will Exxon’s Next Mega Project Get The Go Ahead?
Exxon will likely make the final investment decision for its Mozambique LNG project next year, Reuters reports , citing the country’s National Petroleum Institute. The supermajor postponed the FID on Continue Reading
Exxon Posts First Loss in Decades as Oil Giants Signal Trouble Ahead for Industry
Exxon Mobil Corp. posted its first quarterly loss in three decades as it and rival Chevron Corp. painted a dismal picture of the oil industry, signaling that the impact of Continue Reading
ExxonMobil Reports First Quarterly Loss Since 1999
ExxonMobil (NYSE: XOM) reported on Friday a surprise first-quarter loss on the back of hefty write-downs amid the oil price plunge, posting its first quarterly loss since the 1999 merger Continue Reading
Exxon slashes capex by $10bn
ExxonMobil is slashing this year’s capital spending plans by $1obn and will cut cash operating expenses by 15 per cent as it seeks to preserve its dividend in the face of Continue Reading
Shale Spending Sinks as Exxon Cuts More Than Double Anyone Else
Exxon Mobil Corp. more than doubled the budget cuts announced by any other shale company on Tuesday amid an historic crude-market crash. In all, nearly three dozen shale explorers have slashed Continue Reading
ExxonMobil slashes 2020 capital spending by 30%
ExxonMobil said Tuesday it will slash its 2020 capital spending by $10 billion as North America’s largest energy company cuts its bottom line deeper than the other integrated oil majors Continue Reading
Supermajor Slashes Spending As Oil Prices Collapse
“We haven’t seen anything like what we’re experiencing today.” ExxonMobil’s CEO Darren Woods said his company is expecting oil demand to decline by 20 to 30 percent because of the Continue Reading
The Oil Giant Drowning In Debt
ExxonMobil saw its credit rating downgraded by Moody’s on Thursday from Aaa to Aa1, with a Negative outlook. Two weeks ago, S&P cut Exxon’s credit rating. The oil major’s struggles Continue Reading
Exxon Keeps Up $35 Billion Annual Spending Despite Oil Rout
U.S. supermajor ExxonMobil maintains its strategy for capital expenditures between US$30 billion and US$35 billion each year through 2025, chairman and CEO Darren Woods said at the company’s annual investor Continue Reading