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.

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