{"id":365952,"date":"2020-08-03T10:29:13","date_gmt":"2020-08-03T04:59:13","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=365952"},"modified":"2020-08-03T11:16:15","modified_gmt":"2020-08-03T05:46:15","slug":"exxon-posts-second-straight-quarterly-loss-on-demand-price-plunge","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/exxon-posts-second-straight-quarterly-loss-on-demand-price-plunge\/","title":{"rendered":"Exxon posts second straight quarterly loss on demand, price plunge"},"content":{"rendered":"<p>Exxon Mobil Corp on Friday reported a $1.1 billion second-quarter loss on sharply lower energy demand and prices from the Covid-19 pandemic, and confirmed plans to make deeper spending cuts.<\/p>\n<p>It was Exxon&#8217;s first back-to-back quarterly loss in at least 36 years, but was small in comparison to rivals who took giant charges last quarter. The top US oil producer took no asset write-downs during the quarter, and got a 44-cent-a-share boost to earnings by increasing the value of inventories.<\/p>\n<p>Chevron Corp, Total, Royal Dutch Shell, and Eni each wrote down their oil and gas properties last quarter by several billion dollars apiece, while BP signaled an up to $17.5 billion hit.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Exxon Mobil Corp on Friday reported a $1.1 billion second-quarter loss on sharply lower energy demand and prices from the Covid-19 pandemic, and confirmed plans to make deeper spending cuts. It was Exxon&#8217;s first back-to-back quarterly loss in at least 36 years, but was small in comparison to rivals who took giant charges last quarter. The top US oil producer took no asset write-downs during the quarter, and got a 44-cent-a-share boost to earnings by increasing the value of inventories. Chevron Corp, Total, Royal Dutch Shell, and Eni each wrote down their oil and gas properties last quarter by several [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-365952","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/365952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=365952"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/365952\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=365952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=365952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=365952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}