ExxonMobil trims Permian outlook and takes tough line on LNG as market softens

摘要

ExxonMobil is pumping the brakes on its flagship Permian shale projects in response to flagging global oil and gas prices and a deteriorating outlook for global economic growth as the world struggles to contain the Covid-19 coronavirus outbreak. The US supermajor also warned at its 2020 investor day that prospective LNG investments in Mozambique and Papua New Guinea would have to demonstrate competitiveness both within the Exxon portfolio and globally in a low- margin environment.