Exxon Mobil to Reorganize Upstream Business
31 Enero 2019 - 12:36PM
Noticias Dow Jones
By Patrick Thomas
Exxon Mobil Corp. (XOM) said Thursday it will reorganize its
upstream unit, creating three new companies that will focus on the
management of oil and gas assets, strategy development, and
technical and research operations.
The Irving, Texas-based oil giant said the reorganization is
part of its previously announced plans to double its profit to $31
billion by 2025.
Effective April 1, Exxon said the new exploration and production
companies will be called ExxonMobil Upstream Oil & Gas Co.,
ExxonMobil Upstream Business Development Co. and ExxonMobil
Upstream Integrated Solutions Co.
"We're simplifying and integrating our upstream organization to
better capitalize on the industry-leading portfolio we've assembled
through acquisitions and exploration success in the U.S. Permian
Basin, Guyana, Mozambique, Papua New Guinea and Brazil," Neil
Chapman, senior vice president at Exxon, said in a statement.
ExxonMobil Upstream Oil & Gas will focus on value chain
management in five global businesses -- unconventional, liquefied
natural gas, deepwater, heavy oil and conventional, the company
said
ExxonMobil Upstream Business Development will oversee strategy,
exploration, acquisitions and divestments. ExxonMobil Upstream
Integrated Solutions will provide technical and specialized
commercial skills, such as drilling, research and gas and power
market optimization.
Write to Patrick Thomas at patrick.thomas@wsj.com
(END) Dow Jones Newswires
January 31, 2019 13:21 ET (18:21 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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