Darren Woods Archives - CFO

Exxon to Take Record Writedown, Slash Spending

Exxon to Take Record Writedown, Slash Spending

The "high-grading" of Exxon's asset base will enable it to "manage future commodity price cycles while working to maintain a reliable dividend."

By Matthew Heller | December 1, 2020

Exxon Posts $680M Loss as Oil Slump Continues

Financial Performance

Exxon Posts $680M Loss as Oil Slump Continues

The company disclosed that further capital spending cuts and possible writedowns of assets are ahead as it battles the pandemic-induced oil bust.

By Matthew Heller | October 30, 2020

Exxon Posts $610M Loss Amid Oil Price Dive

Financial Performance

Exxon Posts $610M Loss Amid Oil Price Dive

“COVID-19 has significantly impacted near-term demand, resulting in oversupplied markets and unprecedented pressure on commodity prices and margins."

By Matthew Heller | May 1, 2020

Exxon Cuts Spending by 30% Amid Demand Crash

Exxon Cuts Spending by 30% Amid Demand Crash

Exxon's cut in 2020 capital spending is the largest any oil major has made in response to the coronavirus-driven slowdown.

By Matthew Heller | April 7, 2020

Exxon Earnings Hit by High Maintenance Costs

Financial Performance

Exxon Earnings Hit by High Maintenance Costs

The energy giant posted another earnings miss as production fell 7% and it undertook an "enormous amount of planned maintenance."

By Matthew Heller | July 27, 2018

Exxon Shares Drop 3.7% on Another Profit Miss

Financial Performance

Exxon Shares Drop 3.7% on Another Profit Miss

In the first quarter, the benefits of higher oil prices were offset by weakness in Exxon's chemicals and refining businesses.

By Matthew Heller | April 27, 2018

Exxon Earnings Double But Miss Estimates

Global Business

Exxon Earnings Double But Miss Estimates

Oil and natural gas production dropped by almost 1% in Q2, adding to the challenges facing new CEO Darren Woods.

By Matthew Heller | July 28, 2017

$2B Asset Writedown Hits Exxon’s Q4 Earnings

$2B Asset Writedown Hits Exxon’s Q4 Earnings

"Financial results for the year were negatively impacted by the prolonged downturn in commodity prices and the impairment charge," CEO Darren Woods says.

By Matthew Heller | February 1, 2017