Exxon to Move HQ to Houston, Merge Refining and Chemicals
- Headquarters will depart suburban Dallas offices by mid-2023
- Oil giant seeking $6 billion in structural savings by 2023
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Exxon Mobil Corp. will relocate its corporate headquarters to the Houston area from suburban Dallas and combine its chemical and refining divisions in a major shake-up aimed at reducing costs.
The oil giant’s top executives, who have worked out of the famous “God Pod” office park in Irving for more than three decades, will make the move about 230 miles (370 kilometers) to the southeast by mid-2023, Exxon said in a statement Monday. The company also will reorganize along three main business lines: upstream, which produces oil and natural gas; product solutions, which makes fuels and chemicals; and its low-carbon division.