ExxonMobil announced that it will record an impairment charge of $2.4 billion to $2.6 billion in its fourth-quarter earnings primarily from its Santa Ynez facilities on the coast of California. The company stated that “[c]ontinuing challenges in the state regulatory environment have impeded progress in restoring operations” at the facilities.
Exxon wrote…
Keep reading with a 7-day free trial
Subscribe to California Energy Journal to keep reading this post and get 7 days of free access to the full post archives.