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."
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.
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."
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.
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."
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.
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.