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ExxonMobil Corp. reported it will combine its refining and marketing operations into a single company—ExxonMobil Fuels & Lubricants Co.—in first-quarter 2018. Bryan Milton, currently president of ExxonMobil Fuels, Lubricants & Specialties Marketing Co., was appointed president of the combined division by the company’s board, effective Jan. 1, 2018.

Saudi Aramco and Saudi Arabian Basic Industries Corp. (SABIC) have formalized a previously announced agreement to conduct a joint feasibility study for the development of a fully integrated crude oil-to-chemicals (COTC) complex in Saudi Arabia (OGJ Online, June 28, 2016).

The US Environmental Protection Agency formally rejected the American Fuel & Petrochemical Manufacturers and several independent refiners' requests that it reconsider their suggestions to move the federal Renewable Fuels Standard's point of obligation farther downstream.

Talos Energy LLC, Houston, and Stone Energy Corp., Lafayette, La., have agreed to merge in an all-stock transaction creating a Gulf of Mexico producer named Talos Energy Inc.

Hedging activity surged in this year's third quarter as oil producers rushed to lock in rising prices for future production, according to Wood Mackenzie's latest analysis of oil and gas hedging activity.