(Bloomberg) — Exxon Mobil Corp. is targeting its premier shale assets for deep cuts as it slashes worldwide spending to a four-year low and delays major projects to adapt amid the worst oil-price rout in decades.Exxon will reduce this year’s spending by 30% to $23 billion, the Irving, Texas-based company said in a statement on Tuesday. It will be the second-largest budget cut in the company’s modern history, overshadowed only by 2016, when crude markets last collapsed.The largest share of the reductions will occur in the Permian Basin of West Texas and New Mexico, where Exxon will cut back on …read more
Source:: Yahoo Finance
