- Exxon Mobil (NYSE:XOM) says spending will decline ~11% this year to $34B due to plunging oil prices, following a 9% drop in spending during 2014 to $38.5B from the company's all-time spending peak of $42.5B in 2013, according to its latest 10-K.
- XOM says in the filing that $1B is its maximum exposure to a loss related to compliance with the sanctions the U.S. and the European Union imposed on Russia.
- Details of XOM's investment plans are due next Wednesday when the company holds its annual meeting with analysts in New York.