Last but not least: Exxon chops spending by 30%

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.


Posted on: 2020-04-07T16:21:00+05:00