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Exxon Mobil reportedly growing energy trading segment

Olivia Pulsinelli
American City Business Journals
Exxon Mobil reportedly growing energy trading segment

Exxon Mobil Corp. (NYSE: XOM) is reportedly is taking steps to grow its energy trading segment, multiple sources told Reuters. The move is a major change for Irving-based Exxon, which had limited its energy trading in the past to avoid accusations of market manipulation, Reuters notes. Meanwhile, competitors such as BP PLC (NYSE: BP), Chevron Corp. (NYSE: CVX) and Royal Dutch Shell PLC (NYSE: RDS-A, RDS-B) have created successful trading units.