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Exxon Mobil reports big 2020 loss, unveils low carbon business

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NEW YORK: Exxon Mobil closed the books on a terrible 2020 on Tuesday (Feb 2), reporting losses in the fourth-quarter and for the full year in the ...

NEW YORK: Exxon Mobil closed the books on a terrible 2020 on Tuesday , reporting losses in the fourth-quarter and for the full year in the wake of lower oil prices amid the COVID-19 crisis.

In the fourth quarter, Exxon Mobil suffered a loss of US$20.1 billion following huge write-offs. Revenues fell 30.7 per cent to US$46.5 billion. Exxon Mobil again signaled the importance of its investor dividend, which it has preserved at comparatively high levels even as it tightened spending.

 

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