Exxon Mobil faces heavy losses
The oil company is immersed in a severe crisis that leads to job layoffs and losses of up to 680 million dollars in the third quarter of the year
The crisis that has been dragging the oil company Exxon Mobil since 2013 worsens and reaches losses, during the third quarter of 2020, of about 680 million dollars.
As if this were not enough, the oil company has laid off a high percentage of its personnel in all its subsidiaries. By 2021, the reduction in workers is expected to continue, particularly at its plant located in Houston.
Other factors that have worsened Exxon Mobil crisis include the investments the company has made in fossil fuels, unlike its competitors who are committed to renewable energy.
In this sense, it is appropriate to mention that “while its main competitor, BP, promised to reach zero carbon dioxide emissions by 2050, Exxon Mobil has no sustainable alternative in its proposals.”
The oil company could definitely find itself without capital to continue sending it to its partners or to make the payments of the investments with which it has committed in the United States. Its decapitalization places it below companies such as Zoom, Tela or the recently launched NexEra Energy.
M.Pino
Source: dinero
