{"id":398682,"date":"2021-02-03T08:42:27","date_gmt":"2021-02-03T03:12:27","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=398682"},"modified":"2021-02-03T09:13:06","modified_gmt":"2021-02-03T03:43:06","slug":"exxon-posts-first-annual-loss-as-a-public-company-on-covid-19-impact","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/exxon-posts-first-annual-loss-as-a-public-company-on-covid-19-impact\/","title":{"rendered":"Exxon posts first annual loss as a public company on Covid-19 impact"},"content":{"rendered":"<p>HOUSTON (Reuters) &#8211; Exxon Mobil Corp on Tuesday posted its first annual loss as a public company as the COVID-19 pandemic hammered energy prices and reduced the value of its shale gas properties by more than $20 billion. <\/p>\n<p>Exxon last year slashed spending on new projects by nearly a third, outlined plans to cut up to 15% of its workforce while adding $21 billion to its debt to cover its spending and restructuring. <\/p>\n<p>The changes come amid &#8220;the most challenging market conditions Exxon has ever experienced,&#8221; said Chief Executive Darren Woods, and over time will cut costs by $6 billion a year compared to 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>HOUSTON (Reuters) &#8211; Exxon Mobil Corp on Tuesday posted its first annual loss as a public company as the COVID-19 pandemic hammered energy prices and reduced the value of its shale gas properties by more than $20 billion. Exxon last year slashed spending on new projects by nearly a third, outlined plans to cut up to 15% of its workforce while adding $21 billion to its debt to cover its spending and restructuring. The changes come amid &#8220;the most challenging market conditions Exxon has ever experienced,&#8221; said Chief Executive Darren Woods, and over time will cut costs by $6 billion [&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-398682","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\/398682","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=398682"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/398682\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=398682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=398682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=398682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}