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Big Oil Is Shedding Assets To Focus On Key Projects ...Middle East
Exxon this week did something unprecedented: it wrote down its gas assets by a massive $17 to $20 billion. In evidence that the crisis has finally gotten to the world’s formerly biggest public oil company, Exxon said it will focus on a handful of key upstream regions, very much like its peers. It seems the pandemic has put an end to the global growth era in oil. It is now time to pick and choose the best projects to invest in while keeping an eye out for sustainability trends. Exxon said this week it would focus its upstream efforts on Guyana,…
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