Exxon Mobil Corp. (NYSE:XOM) will be merging its refining and marketing divisions, Exxon Mobil Refining and Supply Company and Exxon Mobil Fuels, Lubricants, & Specialties Marketing Company, into the Exxon Mobil Fuels & Lubricants Company.
The merger is expected to take place at the beginning of the new year. The merged company will be headed by the current president of the marketing division, Bryan Milton, effective January 1, 2018.
The merger will allow Exxon Mobil to make better decisions and boost performance in the market. The merged company will be involved with the purchasing of crude, logistics, refining, supply, trading, midstream, marketing, as well as the sales of the refined products.
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