Exxon Mobil is among the big players in the global oil and gas exploration and recovery industry that significantly slowed down their respective searches for oil and gas in 2020, as the onset of the novel coronavirus impacted energy prices, triggering sharp cuts in spending by the major oil companies.
Earlier this week the Denver-based energy analysts Oil and Gas 360, reporting on the challenges arising out of the onset of COVID-19 said that acquisitions of new offshore and onshore exploration licences from the top five energy giants in the west “dropped to the lowest in at least five years” based on data produced by the Oslo-based energy consultancy, Rystad Energy.
