Exxon posts first annual loss as a public company on Covid-19 blow
The company reported a net annual loss of $22.44 billion for 2020, compared with a full-year profit of $14.34 billion in 2019
An Exxon sign is seen at a gas station in the Chicago suburb of Norridge, Illinois, U.S., October 27, 2016. Reuters/Jim Young
Top US oil producer Exxon Mobil on Tuesday posted its first annual loss as a public company after the Covid-19 pandemic hammered energy prices and it sliced over $20 billion off the value of its shale gas properties in the fourth quarter.
The company reported a net annual loss of $22.44 billion for 2020, compared with a full-year profit of $14.34 billion in 2019.
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