The company expects that the move will help the company exceed its goals to cut
The oil and gas giant has had its headquarters in
"We greatly value our long history in
"Closer collaboration and the new streamlined business model will enable the company to grow shareholder value and position
The company said it will organize the company along three business lines: the
"The new
"It will play a critical role in reducing greenhouse gas emissions and plastic waste by developing more sustainable products."
Those products are to include lower-emission fuels and lubricants and plastics to improve the efficiency of traditional and electric vehicles.
A spokesman for the company told The Wall Street Journal that no layoffs would occur during the restructuring.
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