The Covid-19 pandemic slashed oil prices, sending Exxon’s oil and gas production business to a loss. — Reuters pic
Chevron Corp, Total, Royal Dutch Shell, and Eni wrote down billions of dollars in assets. BP has signalled an up to US$17.5 billion hit. Oil and gas output fell seven per cent from a year earlier to 3.6 million barrels per day in the quarter as it curtailed output due to the oil price crash and threat that global oil storage would fill in May.
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German ministers face grilling over Wirecard collapse | Malay MailFRANKFURT, July 29 — Germany’s finance and economy ministers will be grilled by lawmakers today about the massive fraud scandal that brought down payments provider Wirecard, amid criticism that authorities missed early warning signs. Wirecard filed for insolvency last month after admitting that...
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