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Exxon outlines plan to streamline upstream organization

Published 01/31/2019, 02:57 PM
© Reuters.  Exxon outlines plan to streamline upstream organization
XOM
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  • Exxon Mobil (XOM +0.5%) unveils a reorganization of its global exploration business to support its previously announced plans to double operating cash flow and earnings by 2025.
  • XOM says the reorganization will take effect April 1 and create three new upstream companies: ExxonMobil Upstream Oil & Gas, ExxonMobil Upstream Business Development and ExxonMobil Upstream Integrated Solutions.
  • "Our focus is on increasing overall value by strengthening our upstream business and further integrating it with the downstream and chemical segments to take advantage of our unique capabilities across the value chain."
  • Now read: Whitecap: High Yield With Insider Buying And Share Buybacks


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