The largest US oil company suffered losses for the first time in 40 years

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The largest US oil company suffered losses for the first time in 40 years

04.02.2021 News

For the first time in 40 years, the American oil company ExxonMobil suffered an annual loss of $ 22.4 billion.

Last year the company’s revenue fell by 30.7% to $ 46.5 billion.

The agency notes that the company suffered billions in losses due to the coronavirus pandemic and falling demand for oil, as well as due to the depreciation of assets in the shale gas sector.

ExxonMobil has assured investors that they will continue to pay dividends.

Another oil giant BP ended the year with a loss for the first time in 10 years. The company’s oil production in 2020 decreased by 8.1% and reached 3.47 million barrels per day. Annual revenue fell 35% (to $ 180.37 billion).

Note that in recent days there has been information about negotiations on the merger of ExxonMobil with Chevron.

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