US Energy giant ExxonMobil posted a net loss of over $22.4 billion for the full year of 2020, according to its financial results statement released on Tuesday.
The majority of its loss at $20.1 billion was realized in the last quarter.
“The past year presented the most challenging market conditions ExxonMobil has ever experienced,” said Darren W. Woods, chairman and chief executive officer.
-Revenue down 31.5% in 2020
The revenue of the United States’ largest oil company for the fourth quarter last year reached $46.5 billion compared to $67.2 billion for the same quarter of 2019.
Full-year revenue in 2020 amounted to $181.5 billion, marking a 31.5% fall from $265 billion in 2019.
By Sibel Morrow and Firdevs Yuksel