Sign Up for FREE Daily Energy News
Canadian Flag CDN NEWS  |  US Flag US NEWS  | TIMELY. FOCUSED. RELEVANT. FREE
  • Stay Connected
  • linkedin
  • twitter
  • facebook
  • youtube2
BREAKING NEWS:

Hazloc Heaters
Copper Tip Energy Services
Hazloc Heaters
Copper Tip Energy


Exxon notifies contractors, vendors of spending cuts over coronavirus


These translations are done via Google Translate

Exxon Mobil Corp is notifying contractors and vendors of planned near-term cuts in capital and operating expenses over a coronavirus pandemic, and will announce the plans once they are final, company spokesman Jeremy Eikenberry said on Sunday.”Based on this unprecedented environment, we are evaluating all appropriate steps to significantly reduce capital and operating expenses in the near term,” Eikenberry said.

“We are notifying contractors and vendors of our intended reductions, and they may be adjusting their staffing and budgets accordingly.”

Exxon reduced production on Saturday at its refinery in Baton Rouge, Louisiana, and cut 1,800 contract workers on Friday, sources have told Reuters.

ROO.AI Oil and Gas Field Service Software
GLJ

The contract workers are employed by third-parties contracted by Exxon for refinery maintenance.

“Exxon Mobil will outline plans when they are finalized,” Eikenberry added.

Exxon is also expected to delay a $30-billion liquified natural gas plant in Mozambique.

Exxon will make significant spending cuts, Chief Executive Darren Woods said on March 16.

(Reporting by Erwin Seba; Editing by Muralikumar Anantharaman and Clarence Fernandez)



Share This:



More News Articles


GET ENERGYNOW’S DAILY EMAIL FOR FREE