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UPDATE 1-Exxon to merge refining and marketing divisions

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Dec 1 (Reuters) - Exxon Mobil Corp is merging its refining and marketing divisions as part of Chief Executive Darren Woods push to reorganize the company's refining operations amid volatile oil and natural gas prices.

Exxon said on Friday the combination of the two units will happen in the first quarter of 2018 and named Bryan Milton president of the merged entity, which will be called ExxonMobil Fuels & Lubricants Co.

Milton, 53, who joined the company in 1986, is currently president of ExxonMobil Fuels, Lubricants & Specialties Marketing Co.

Woods took over the top job in January after former chief Rex Tillerson resigned to become U.S. secretary of state. (Reporting by Ankit Ajmera in Bengaluru; Editing by Anil D'Silva)