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At Exxon, CEO's promised turnaround sapped by chemicals, refining
January 28, 2020 2:36 AM ESTBy Jennifer Hiller
HOUSTON (Reuters) - At Exxon Mobil Corp (NYSE: XOM), CEO Darren Woods' plan to revive earnings at the largest U.S. oil and gas company is being sidetracked by the two businesses he knows best: chemicals and refining.
Another year of poor profit could require Exxon to re-evaluate its bold spending plans or weaken its ability to weather the next oil-price downturn, say oil analysts. Exxon already must borrow or sell assets to help cover shareholder dividends.
The worlds biggest publicly traded oil firm after... More
