By Reuters| Posted by: Harshit Sabarwal | Houston
UPDATED ON DEC 31, 2020 01:01 PM IST
The largest US oil producer has posted losses in the first three quarters of 2020 on an ill-timed spending increase that collided with a downturn in fuel demand and prices. It faces a proxy fight next year by an activist investor calling for deeper cuts, new directors and a refocusing on cleaner fuels.
By Associated Press| Posted by: Harshit Sabarwal | New York
UPDATED ON OCT 29, 2020 11:30 PM IST
The Irving, Texas-based oil giant said the reductions will be both voluntary and involuntary and will largely come from its management offices in Houston. The company had about 75,000 employees worldwide at the end of 2019.
By Bloomberg| Posted by: Harshit Sabarwal
PUBLISHED ON OCT 06, 2020 08:15 AM IST
The drive to expand both fossil-fuel production and planet-warming pollution has come at a time when some of Exxon’s rivals, such as BP Plc and Royal Dutch Shell Plc, are moving to curb oil and zero-out emissions.
By Associated Press | New York
UPDATED ON MAY 01, 2020 06:09 PM IST
Even before the coronavirus hit, oil prices were low because of a trade war between the U.S. and China which contributed to a global economic slowdown.