Exxon Q2 loss $1.1 billionChristian Fernsby ▼ | July 31, 2020
Exxon Mobil on Friday reported a $1.1 billion second quarter loss.
Exxon It will not take on more debt and sees spending cuts
It will not take on more debt and sees spending cuts as short term “to manage the current situation,” Chapman said.
Exxon’s oil and gas production business fell to a loss and its refining unit was hit by lower demand and weaker prices.
The U.S. oil major reported a loss of $1.08 billion compared with a profit of $3.13 billion a year earlier. Excluding inventory adjustments, the loss would have been $3 billion, it said. ■