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Exxon downsizes global empire as Wall Street worries about dividend

Updated : September 08, 2020 10:13 AM IST

The company has said it plans to reduce the number of drilling rigs there to 15 or fewer, from 55 early this year, and the company’s pullback ”will continue,” senior vice president Neil Chapman said in a July call.
Exxon’s weak cash flow worries investors that hold the stock for its nearly 9 percent dividend.
Exxon downsizes global empire as Wall Street worries about dividend

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