Last but not least: Exxon chops spending by 30%

MG News | April 07, 2020 at 04:21 PM GMT+05:00

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April 7, 2020: Exxon Mobil Corp on Tuesday throttled back a multi-year investment spree, reducing its expansion budget by $10 billion this year as the coronavirus pandemic saps energy demand amid a dramatic slide in oil prices.

The company, which last month pledged "significant" cuts to spending, said it would reduce 2020 capital expenditure to $23 billion. It had previously expected to spend up to $33 billion.

Reuters

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