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  • Exxon Mobil reports 2020 loss of $22.4 bn after big Q4 loss (en)
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  • Exxon Mobil closed the books on a terrible 2020 Tuesday, reporting losses in the fourth-quarter and for the full year in the wake of lower oil prices with Covid-19.

    The big US oil company reported a fourth-quarter loss of $20.7 billion following huge write-offs. That took the company's loss for all of 2020 to $22.4 billion, compared with $14.3 billion in profits in 2019.

    Exxon Mobil also unveiled plans for additional spending cuts of $3 billion in annual expenses expected by 2023, its latest belt-tightening move amid the industry downturn.

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    (en)
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  • New York
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  • urn:newsml:afp.com:20210202T125122Z:TX-PAR-SWW59:1
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  • en
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  • earnings
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  • earnings
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