ExxonMobil stumbles to first loss in three decades, as Chevron’s Q1 earnings soar

摘要

The US energy majors reported contrasting Q1’20 results on Friday, with ExxonMobil falling to its first quarterly loss in over three decades driven by USD 2.9 billion in writedowns linked to lower commodity prices. Meanwhile, Chevron’s Q1 earnings increased 38% year on year, although the firm warned future results are expected to be “depressed” by current market conditions as it braced for further troubles by deepening capex cuts.