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Tuesday, 5 February 2019

ExxonMobil streamlines upstream organization for growth support




Exxon Mobil Corporation said it will streamline its upstream organization and centralize project delivery across the company to support previously announced plans to double operating cash flow and earnings by 2025.
“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,” said Neil Chapman, senior VP.
ExxonMobil Upstream Business Development Company will oversee strategy development, exploration, acquisitions and divestments and actively manage an upstream portfolio that is considered the most attractive since the 1999 merger of Exxon and Mobil. Consolidation of upstream portfolio management efforts in one organization will further strengthen the company’s ability to optimize portfolio value.

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