Exxon posts huge loss for pandemic-hit 2020

ExxonMobil has posted hue losses for pandemic-hit 2020 (Richard Drew/AP)

Oil giant Exxon reported a staggering loss for 2020 on Tuesday as the pandemic crushed energy demand and undercut oil prices.

Exxon Mobil Corporation reported the largest losses in its history — nearly 20.1 billion dollars (£14.7 billion) for the fourth quarter, including more than 19 billion dollars (£13.9 billion) to write down the value of company assets. For the full year, it lost 22.4 billion dollars (£16.39 billion).