Associated Press
The U.S. Treasury s Office of Foreign Asset Control says that Exxon Mobil must pay a $2 million penalty for allegedly violating sanctions on Russia.
Last October ExxonMobil CEO Darren Woods delivered news to his staff that he had hoped to avoid: the company had been hit hard enough by low prices and the Coronavirus downturn that it would have to cut employees.
This came after the Texas-based oil major and once the third largest company in the world had reported three straight quarters of losses totalling more than $1 billion. Throughout 2020, as oil prices fell to historic lows, ExxonMobil slashed spending, halted some international projects, and eventually announced it would cut 700 employees from its Houston workforce.
January 19, 2021, 10:49 AM)
The U.S. Treasury’s Office of Foreign Asset Control says that Exxon Mobil must pay a $2 million penalty for allegedly violating sanctions on Russia.
Last October ExxonMobil CEO Darren Woods delivered news to his staff that he had hoped to avoid: the company had been hit hard enough by low prices and the Coronavirus downturn that it would have to cut employees.
This came after the Texas-based oil major and once the third largest company in the world had reported three straight quarters of losses totalling more than $1 billion. Throughout 2020, as oil prices fell to historic lows, ExxonMobil slashed spending, halted some international projects, and eventually announced it would cut 700 employees from its Houston workforce.