US rival Chevron also reported a loss in the third quarter, of about $200 million, while European majors Shell and BP posted profits this week. What big oil companies are saying about the election
Not much! They love to talk about not wanting to talk about politics. But it's clear that the results of the election will have huge implications for their industry. Here's what they said on earnings calls this week: "We're not politicians," Bernard Looney, the company's CEO, said. "We work with whatever government is in power.
"If fracking is banned on federal land, we'll see gradual activity migration towards private and state-owned assets," he said. 4 stories that caught our attention this weekChevron is laying off about a quarter of Noble Energy employees, after the US oil giant bought Noble earlier this year,
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Exxon, Chevron to cut US jobs as oil industry strugglesExxon Mobil is slashing 1,900 jobs from its U.S. workforce, and Chevron plans to cut a quarter of the employees at its recently-acquired Noble Energy as the pandemic saps demand for fuel. Just when you think Exxon (XOM) stock is a buy, company says🖕🏽 Everyone who’s worried Biden is going to end oil and gas. Ha! Jokes on you, realDonaldTrump is all but killed it. Most of the Texas industry people are on unemployment. Now this! 🙄
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