Exclusive: Exxon downsizes global empire as Wall Street worries about dividend

Ill-timed bets on rising demand have Exxon Mobil Corp facing a shortfall of about $48 billion through 2021, according to a Reuters tally and Wall Street estimates, a situation that will require the top U.S. oil company to make deep cuts to its staff and projects.

Wall Street investors are even starting to worry about the once-sacrosanct dividend at Exxon, which in the 20th Century became the world’s most valuable company using global scale, relentless expansion and strict financial controls.

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