ExxonMobil (XOM) Evaluating Significant Near-Term Capital and Operating Expense Reductions

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ExxonMobil Evaluating Significant Near-Term Capital and Operating Expense Reductions

March 16, 2020 7:14 PM UTC

IRVING, Texas--(BUSINESS WIRE)-- ExxonMobil is looking to significantly reduce spending as a result of market conditions caused by the COVID-19 pandemic and commodity price decreases, the company said today.

Based on this unprecedented environment, we are evaluating all appropriate steps to significantly reduce capital and operating expenses in the near term, said Darren Woods, chairman and chief... More