Exxon Mobil reports big 2020 loss, unveils low carbon business

New York (AFP) – Exxon Mobil closed the books on a terrible 2020 on Tuesday, reporting losses in the fourth-quarter and for the full year in the wake of lower oil prices amid the Covid-19 crisis. The big US oil company, which has been criticized over the last year for both its financial performance and its response to climate change, suffered a 2020 loss of $22.4 billion, after posting a profit of $14.3 billion in 2019. The energy giant unveiled new cost-cutting efforts, a new low-carbon business unit and a new board member that it said would position it for the future. “The past year presente…

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