ExxonMobil, Chevron Prioritize Debt Reduction Over Shareholder Payouts
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Insights by Echo AI
ExxonMobil Holdings Corp. and Chevron Corp. significantly increased their profits in the second quarter due to global energy market disruptions. Instead of using these profits for large shareholder payouts, as they have done in the past, the companies chose to reduce their debt. ExxonMobil lowered its net debt by over $7 billion during the quarter.
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