ExxonMobil signals up to USD20 B writedown to overwhelm 4Q gains in oil, chemicals

MOSCOW (MRC) -- ExxonMobil Corp signaled in a regulatory filing that higher oil and gas prices and improved chemicals margins would aid fourth quarter results, but the gains would be overshadowed by an up to USD20 billion asset writedown, reported Reuters.The largest US oil producer has posted losses in the first three quarters of 2020 on an ill-timed spending increase that collided with

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