Leaked Study Shows Exxon, Partners Overspent by $138 Billion

(Bloomberg) — Oil and natural gas projects that Exxon Mobil Corp. invested in between 1998 and 2017 ended up costing $138 billion more than early-stage estimates, potentially due to mismanagement by operators and poor planning, according to an internal analysis seen by Bloomberg. The 2020 study, reviewing 110 projects in which Exxon took a stake over two decades, suggested two … Read more