For Exxon and Shell, Age of Ultramajors Comes at the Wrong Time

  • Despite their size, both companies suffering with cheap oil
  • Exxon and Shell cutting spending as fast as everyone else

As oil and gas prices have tumbled, Exxon and Shell have been forced to retreat. With oil barely above $30 a barrel, they’re cutting spending, including some costly, high-risk mega-projects.

Photographer: George Osodi/Bloomberg

This may not be the best time to be bigger than big.

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