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CM - Exxon dips into red ink on downstream impairment writedowns - May 2020



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Exxon Mobil Corp. reported a $610 million net loss in Q1 after it wrote down $2.9 billion in mostly downstream-related impairments related to the oil price collapse. It’s the supermajor’s first quarterly loss in 32 years and a reversal into the red from $2.35 billion of net profit a year ago. But the company said it had no plans to cut its dividend and will maintain its quarterly payment of $0.87 a share. “COVID-19......
 
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