Big Oil Books One Of Worst Years On Record ...Middle East

Big Oil recorded one of its worst years in history because of the coronavirus pandemic that pushed their financial results deep into negative territory. Earlier this week, BP reported a net loss of $5.7 billion for 2020, citing oil and gas price weaknesses and demand destruction by the pandemic. Exxon, for its part, booked the biggest loss in its modern history, at $20 billion, including an impairment charge of $19.3 billion. “The past year presented the most challenging market conditions Exxon Mobil has ever experienced,” Exxon’s…

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