Exxon Mobil Corp. posted its third consecutive quarterly loss for the first time on record Friday and disclosed that it may write down the value of natural-gas assets worth as much as $30 billion, as the coronavirus pandemic continues to pressure the world’s biggest oil companies.

The Texas oil giant reported a loss of $680 million in the third quarter compared with a profit of $3.17 billion during the same period last year.

“We…

This post first appeared on wsj.com

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

GOP Sens. Romney, Cotton to propose minimum wage hike coupled with immigration enforcement

As Democrats try to plot a way forward to raise the minimum…

Ford Taps Into Tesla’s Superchargers Network

Share Listen (1 min) This post first appeared on wsj.com

House Republicans plan investigations and possible impeachments with new majority

WASHINGTON — House Republicans’ majority will be smaller than expected, but they’re…

Biden’s Inauguration Scores Bigger TV Ratings Than Trump’s

President Biden’s inaugural address on Wednesday attracted about a million and a…