Company plans to step up disposals and end its exploration program in Alaska.
Says the country's growth prospects have deteriorated and it is not performing as well as peers.
The Dutch chemicals maker will contribute its own drug manufacturing operations to the new company.
Taxpayer-funded bailouts remain a possibility if latest stress test of banks reveals significant capital shortfalls.
Saw its third-quarter profit fall sharply after it booked a loss on the sale of operations in South Korea.
Royal Dutch Shell, ExxonMobil and Total all blame a decline in their downstream businesses for slumping quarterly earnings.
Would be second largest settlement in interest-rate rigging investigation.
World's biggest light maker says profits rose on cost-cutting as sales declined but margins improved.
Shares in the Dutch telecoms company fell sharply after Carlos Slim walked away from takeover offer.
Says he will abandon $9.5 billion bid after foundation linked to company mounts "poison pill" defense.
