Exxon eyes setting up a trading division: FT
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The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York, New York, U.S. December 30, 2015. REUTERS/Lucas Jackson/File Photo
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(Reuters) - Exxon Mobil Corp (NYSE: XOM) is weighing building a full-scale trading division as it looks to counter a more than two-year rout in oil prices, the Financial Times reported on Thursday, citing people familiar with the matter.
The downturn in oil prices is prompting some Exxon executives to consider the case for establishing a trading division that buys and sells other producers' crude and refined products, as well as its own, the FT reported.
Exxon, the world's largest publicly traded oil producer, is expected to report its third quarter results on Friday. (http://on.ft.com/2fjJ5bH)
The company was not immediately available for comment.
(Reporting by Ismail Shakil in Bengaluru; Editing by Shounak Dasgupta)
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