ExxonMobil Evaluating Significant Near-Term Capital and Operating Expense Reductions
16 Março 2020 - 08:14PM
Business Wire
ExxonMobil is looking to significantly reduce spending as a
result of market conditions caused by the COVID-19 pandemic and
commodity price decreases, the company said today.
“Based on this unprecedented environment, we are evaluating all
appropriate steps to significantly reduce capital and operating
expenses in the near term,” said Darren Woods, chairman and chief
executive officer of Exxon Mobil Corporation. “We will outline
plans when they are finalized.”
Woods said that ExxonMobil has faced numerous market downturns
throughout its long history and has experience operating in a
sustained low-price environment. “We remain focused on being a
safe, low-cost operator and creating long-term value for
shareholders,” said Woods.
The company is closely monitoring the COVID-19 pandemic and has
adjusted work arrangements to ensure a healthy work environment and
support communities where we operate.
Woods stressed the company will maintain its ongoing commitment
to safety and environmental performance.
“We are confident that we will manage through these challenging
times by taking deliberate action to keep our people safe, our
environment protected and our company strong,” said Woods.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international
energy companies, uses technology and innovation to help meet the
world’s growing energy needs. ExxonMobil holds an industry-leading
inventory of resources, is one of the largest refiners and
marketers of petroleum products, and its chemical company is one of
the largest in the world. To learn more, visit exxonmobil.com and
the Energy Factor.
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CAUTIONARY STATEMENT
Statements of future events or conditions in this release are
forward-looking statements. Actual future results, including
spending reductions, future business results, and impacts of the
COVID 19 pandemic could differ significantly depending on supply
and demand for oil, gas, and petroleum products and other market
factors affecting oil, gas, and petroleum product prices; the
outcome of government policies and actions, including actions taken
to address COVID 19 and to maintain the functioning of national and
global economies and markets; the ultimate impact of COVID 19 on
people and economies; the impact of company actions to protect the
health and safety of employees, vendors, and communities; actions
of competitors and commercial counterparties; actions of consumers;
and other factors discussed under Item 1A Risk Factors in
ExxonMobil’s most recent annual report on Form 10-K.
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