“ExxonMobil” cuts expenditures by 30%

US ExxonMobil reduced capital expenditures for 2020 to $23 billion.

Report informs referring to Reuters that it could cut the expenditures more if needed.

It had previously expected to spend up to $33 billion.

‘The expenditures for next years were planned at $30-35 billion. However, the expenditures can be reduced in 2021, too,’ said Darren Woods, chairman, and chief executive officer of Exxon Mobil Corporation.

The expenditures for 2019 were $26 billion.