Exxon Mobil will combine its refining and chemicals businesses into one, and put its energy transition business on the same footing as its other operations.
The broad restructuring marks its latest cost-cutting effort after activist investors seeking to boost returns and address the energy transition won three seats last spring on its board.
The restructuring will not impact fourth quarter financial results, which the top U.S. producer reports on Tuesday.
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https://www.cnbc.com/2022/01/31/exxon-cost-cutting-restructu…