ExxonMobil evaluating significant near-term capital and operating expense reductions; COVID-19
Green Car Congress
MARCH 17, 2020
ExxonMobil is looking to reduce spending significantly as a result of market conditions caused by the COVID-19 pandemic and commodity price decreases. Woods said that ExxonMobil has faced numerous market downturns throughout its long history and has experience operating in a sustained low-price environment. Based on this unprecedented environment, we are evaluating all appropriate steps to significantly reduce capital and operating expenses in the near term.