(Reuters) - Exxon Mobil Corp (N:XOM) on Tuesday throttled back a multi-year investment spree, reducing its expansion budget by $10 billion (8.12 billion pounds) this year as the coronavirus pandemic saps energy demand amid a dramatic slide in oil prices.
The company, which last month pledged "significant" cuts to spending, said it would reduce 2020 capital expenditure to $23 billion. It had previously expected to spend up to $33 billion.
(Graphic: Oil majors chop billions of dollars from production, spending budgets link: https://fingfx.thomsonreuters.com/gfx/editorcharts/GLOBAL-OIL-CAPEX/0H001R8JFCHE/eikon.png)