The oil giant will go out on top. As it prepares to exit North Texas, Exxon Mobil Corp.’s year-end results announced Tuesday will elevate it back to the...
The energy industry standard-bearer’s comeback also saw Exxon turn a $22.4 billion loss in 2020 into a $23 billion profit last year.that the headquarters move grew out of the company’s restructuring, which includes consolidating its oil and gas, chemicals and low-carbon businesses in the Houston area.
“That will drive costs down,” Woods said. “The reorganization is just making us more effective in the money that we spend.” Exxon had historically separated its top executives from its rank-and-file workers, leading employees to refer to the Irving headquarters as the “God pod.” Asked why he was moving it, Woods said: “Well, we don’t call it the God pod. ... As we consolidate, the corporation plays a more important role in delivering business results.”
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