ExxonMobil’s natural gas, crude, power and petroleum products trading as of June 1 will become “one centralized trading organization for the whole corporation,” able to stand with any global competitor, CEO Darren Woods said Friday.

The new Global Trading arm has been in the works in some form or fashion since 2018, Woods said during the first quarter conference call. Now, the pieces have fallen into place.

“Global Trading will bring together expertise from across the company in crude, products, natural gas, power, and marine-freight trading,” Woods said. “We plan to build on our record 2022 results, leveraging the unique insights we gain from participating across each of our value chains and all along their entire length, with a global operating footprint larger...