ExxonMobil Revises Business Plan and Removes Less Strategic Assets. Company Suffered a Loss of $20 Billion in the Fourth Quarter

Written by Roberta Souza

Published on 01/12/2020 at 18:02

ExxonMobil

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Oil Company Reports Largest Loss in History. In Addition to Divestments, ExxonMobil Also Presented Its Investment Plan

ExxonMobil, operating in the oil and gas sector, has finalized its future business plans. With the plan, the company is cutting investments and taking a write-down of US$ 20 billion in natural gas. The oil company stated that it will prioritize short-term capital spending on advantageous assets with the highest potential future value, including developments in Guyana and the Permian Basin in the U.S., targeted exploration in Brazil, and chemical projects.

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Darren Woods, the company’s president, says that “The ongoing emphasis on high-grade asset base – through exploration, divestment, and prioritizing advantageous development opportunities – will increase earning power and cash generation and rebuild the balance sheet capacity to manage future commodity price cycles while working to maintain a reliable dividend.”

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ExxonMobil Revises Business Plan and Removes Less Strategic Assets. Company Suffered a Loss of $20 Billion in the Fourth Quarter

Oil Company Reports Largest Loss in History. In Addition to Divestments, ExxonMobil Also Presented Its Investment Plan

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ExxonMobil Revises Business Plan and Removes Less Strategic Assets. Company Suffered a Loss of $20 Billion in the Fourth Quarter

Oil Company Reports Largest Loss in History. In Addition to Divestments, ExxonMobil Also Presented Its Investment Plan

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While the U.S. still faces limitations in deep space, China is developing unprecedented technology with strategic satellites that maintain communication with the far side of the Moon and aims for dominance by 2030.

In Botswana, a salt flat of up to 16,000 km² that was once an African megalake spends months as an absolute white desert, but during the rainy season it transforms into a shallow sea that reappears from nowhere and can be seen from space in the middle of southern Africa.

The Blood Falls of Antarctica hide a living ecosystem trapped under the ice for over 2 million years, where microbes survive without light, without oxygen, and without ever having seen the Sun.

Bavarian archaeologists unearthed a medieval skeleton that had an articulated iron hand in place of its left arm, and the discovery reveals that doctors were already creating sophisticated prosthetics over 500 years ago.

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