Energy giant Exxon and several other companies are consolidating their headquarters in Houston, Texas

Exxon’s announcement that the company is consolidating its operations from Irving, Texas  is part of the company’s effort to streamline its business structure “to better support customers, enhance performance and grow value,” according to a press release.

“The move combines Exxon’s existing chemical-and-refining business, which make plastics, fuels, and an array of hydrocarbon products. It also elevates its low-carbon unit as its own business line. The low-carbon unit, formed last year, is focused on lowering Exxon’s carbon emissions and developing emerging technologies including carbon capture, hydrogen and biofuels,” The Wall Street Journal reported. 

The oil giant’s announcement to relocate its headquarters to its Spring campus increases the number of Fortune 500 companies in the Houston area to 25, one of the largest in the country, according to Houston.org

In December 2020, Hewlett Packard Enterprise said it would establish its global headquarters in Houston. And in May 2021, NRG Energy Inc. said it would consolidate its corporate headquarters. The moves added two new Fortune 500 companies to Houston’s roster.