Colossal fossil ExxonMobil declared an annual financial loss yesterday for the first time ever, capping a year in which it had to borrow money and sell off assets to manage a US$15.2-billion payout to its shareholders.“Exxon now faces growing challenges from frustrated investors, who are pressuring the company to shake up its board and change its strategy, arguing that the company needs to shift its business model to thrive in a rapidly evolving energy market,” the Institute for Energy Economics and Financial Analysis reports. “[Tuesday’s] results could add to the urgency of their calls.”
Source: Exxon Faces ‘Frustrated Investors’ After First-Ever Financial Loss – The Energy Mix
