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FT: Exxon considers setting up full-scale trading division

Oct. 27, 2016 2:19 PM ETExxon Mobil Corporation (XOM) StockXOMBy: Carl Surran, SA News Editor14 Comments
  • ExxonMobil (XOM +0.2%) is considering building a full-scale trading division for the first time in its history, as it searches for new ways to boost profits during the oil price slump, Financial Times reports.
  • The move would be a major change for a company that has deliberately shunned trading other producers’ oil, but the two-year oil downturn has prompted some XOM execs to consider the case for establishing a trading division that buys and sells other producers’ crude and refined products as well as its own, according to the report.
  • The large trading divisions of BP, Royal Dutch Shell and Total have earned substantial profits during the downturn, which surely has caught the eye of XOM top brass.

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