Finance

ExxonMobil's $20 billion hit 'continues trend' of large oil and gas industry write-downs

US supermajor following in footsteps of peers in cutting costs and striking assets from development plans, analyst says

High pressure: With analysts piling on ExxonMobil after the supermajor announced impairments of $17 billion to $20 billion on natural gas assets, peace and tranquility may be in short supply for chief executive Darren Woods.
High pressure: With analysts piling on ExxonMobil after the supermajor announced impairments of $17 billion to $20 billion on natural gas assets, peace and tranquility may be in short supply for chief executive Darren Woods.Photo: RYTIS DAUKANTAS/UPSTREAM
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Published 2 December 2020, 19:39Updated 2 December 2020, 19:39