ShippingWatch

Exxon Mobil incurs major losses following oil slump

Exxon Mobil is seriously affected by the oil price slump. The US company's oil and gas business incurs a billion-dollar loss for the second quarter.

Photo: Jessica Rinaldi/Reuters/Ritzau Scanpix

The US' largest oil company, Exxon Mobil, is severely affected by the low oil price, which has dropped nearly a third in the US since the turn of the year.

In any case, Exxon's oil and gas business lost USD 3.1 billion in the second quarter while earnings in the company's refinery division dwindled USD 1 billion, reveals a group notice to the US Securities and Exchange Commission, writes Bloomberg News.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

IKEA sustainability manager: Green solutions should not cost more

As a starting point, furniture giant Ikea won't accept that green solutions become more expensive than polluting solutions, says Elisabeth Munck af Rosenschöld, Global Sustainability Manager for Supply Chain Operations, to ShippingWatch. Ikea is part of an alliance of global companies that calls for green shipping by 2040.

Long Beach logjam of container vessels grows to 80

Bottlenecks at major US container ports in continue to grow, with the ports of Long Beach and Los Angeles being the worst hit at the moment. Here, 80 vessels are waiting to berth, according to new figures form Vessels Value.

Further reading

Related articles

Trial banner

Latest news

See all jobs