Exxon Continues Leaner Spending As Covid-19 Threat Prolongs

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Exxon Mobil Corp. said Wednesday that it would maintain a conservative budget for the next five years as demand for oil and gas remains uncertain. Coronavirus-led economic risks continue In addition, some countries are trying to break away from fossil fuels.

Texas oil giants, who cut spending in 2020 as the world fought the wave of Covid-19, said they were sticking to lower spending levels over the next few years. Exxon will spend $ 20 to $ 25 billion annually on capital investment by 2027, down 17% to 33% from its pre-pandemic plan.

Exxon Continues Leaner Spending As Covid-19 Threat Prolongs

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The post Exxon Continues Leaner Spending As Covid-19 Threat Prolongs appeared first on Eminetra.

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