HOUSTON: At Exxon Mobil Corp, CEO Darren Woods’ plan to revive earnings at the largest US oil and gas company is being sidetracked by the two businesses he knows best: chemicals and refining.
Another year of poor profit could require Exxon to re-evaluate its bold spending plans or weaken its ability to weather the next oil-price downturn, say oil analysts. Exxon already must borrow or sell assets to help cover shareholder dividends.
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