{"id":381395,"date":"2020-10-31T09:00:26","date_gmt":"2020-10-31T03:30:26","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=381395"},"modified":"2020-10-31T09:49:27","modified_gmt":"2020-10-31T04:19:27","slug":"exxon-mobil-posts-third-straight-loss-as-pandemic-hits-demand-prices","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/exxon-mobil-posts-third-straight-loss-as-pandemic-hits-demand-prices\/","title":{"rendered":"Exxon Mobil posts third straight loss as pandemic hits demand, prices"},"content":{"rendered":"<p>(Reuters) &#8211; Exxon Mobil Corp posted its third straight quarterly loss on Friday and detailed deeper spending cuts to come, as the oil major reels from the COVID-19 impact on energy demand and prices.<\/p>\n<p>The largest U.S. oil producer by volume plans to cut its capital spending for 2021 to between $16 billion to $19 billion from a planned $23 billion this year.<\/p>\n<p>It also said it was reassessing its natural gas holdings in North America and could impair around $25 billion to $30 billion &#8211; but only if it changes its long-term development plans. It is evaluating those assets this quarter.<\/p>\n<p>Exxon has not had writedowns in shale fields this year and has long said it believes demand will grow for its products as more people join the middle class globally.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) &#8211; Exxon Mobil Corp posted its third straight quarterly loss on Friday and detailed deeper spending cuts to come, as the oil major reels from the COVID-19 impact on energy demand and prices. The largest U.S. oil producer by volume plans to cut its capital spending for 2021 to between $16 billion to $19 billion from a planned $23 billion this year. It also said it was reassessing its natural gas holdings in North America and could impair around $25 billion to $30 billion &#8211; but only if it changes its long-term development plans. It is evaluating those assets [&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-381395","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\/381395","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=381395"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/381395\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=381395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=381395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=381395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}