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ExxonMobil and COVID-19
With operations across the world, we are closely monitoring the COVID-19 pandemic, under guidance from the World Health Organization, the U.S. Centers for Disease Control and Prevention and elected officials, as we work to do our part in limiting the spread of the virus.
With operations across the world, we are closely monitoring the COVID-19 pandemic, under guidance from the World Health Organization, the U.S. Centers for Disease Control and Prevention and elected officials, as we work to do our part in limiting the spread of the virus. We are taking all necessary steps to help our employees, contractors, customers and their families remain healthy and safe, while working to meet global energy demand.
The world is counting on us to help meet its energy needs, especially at this critical time. We are committed to working to supply the fuels and products that consumers, first responders, health care officials and medical personnel need to address this global health crisis.
These are challenging times for all of us. We are grateful for the efforts of first responders and medical professionals around the world who are working so hard to help manage the effects of this pandemic.
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Our communities
As a multinational corporation with operations worldwide, we are actively involved in local efforts to fight the spread of COVID-19.
Our business
As a result of falling energy demand caused by the COVID-19 pandemic and reduced commodity prices, ExxonMobil announced on April 7 that it is reducing its 2020 capital spending by 30 percent and lowering cash operating expenses by 15 percent.
Capital investments for 2020 are now expected to be about $23 billion, down from the previously announced $33 billion. The 15 percent decrease in cash operating expenses is driven by deliberate actions to increase efficiencies and reduce costs, and includes expected lower energy costs.
More details about these revised plans can be found here.
ExxonMobil has faced numerous market downturns throughout its long history and has experience operating in a sustained low-price environment.
We remain focused on being a safe, low-cost operator and creating long-term value for shareholders.
Additional resources
Centers for Disease Control and Prevention (CDC)
World Health Organization (WHO)
American Petroleum Institute (API)
American Chemistry Council (ACC)
American Chemical Society interviews Dr. Vijay Swarup
Meals & Masks: Exxon Mobil gives Houston restaurants a much-needed lifeline
Exxon and Mobil brands’ efforts to combat COVID-19
Centers for Disease Control and Prevention (CDC)
World Health Organization (WHO)
American Petroleum Institute (API)
American Chemistry Council (ACC)
American Chemical Society interviews Dr. Vijay Swarup
Meals & Masks: Exxon Mobil gives Houston restaurants a much-needed lifeline
Exxon and Mobil brands’ efforts to combat COVID-19