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ExxonMobil

Exxon Mobil is a multinational oil and gas corporation, involved in upstream and downstream activities around the world.

Categories

Energy and Utilities  

#17

Rank

$508.12B

Marketcap

US United States

Country

ExxonMobil
Leadership team

Neil A. Chapman (Senior Vice President)

Kathryn A. Mikells (Senior Vice President and Chief Financial Officer)

Jack P. Williams (Senior Vice President)

Industries

Energy and Utilities

Products/ Services
Crude oil, Oil products, Natural gas, Petrochemicals, Power generation
Number of Employees
Above 50,000
Headquarters
5959 Las Colinas Blvd Irving, TX
Established
1870
Company Type
Public Limited Company
Company Registration
SEC CIK: 0001226649
Revenue
Above - 1B
Traded as
XOM
Social Media
Overview
Location
Summary

Exxon Mobil Corporation is an American multinational oil and gas corporation and the largest direct descendant of John D. Rockefeller's Standard Oil. The company, which took its present name in 1999 per the merger of Exxon and Mobil, is vertically integrated across the entire oil and gas industry, and within it is also a chemicals division which produces plastic, synthetic rubber, and other chemical products. ExxonMobil is headquartered in the Houston suburb of Spring, Texas, though officially incorporated in New Jersey.

ExxonMobil is one of the world's largest and most powerful companies. ExxonMobil since its merger varied from the first to tenth largest publicly traded company by revenue and has one of the largest market capitalisations out of any company. 

As of 2022, in the most recent rankings released in the Fortune 500, ExxonMobil was ranked sixth, and twelfth on the Fortune Global 500. ExxonMobil is the largest investor-owned oil company in the world, the largest oil company headquartered in the Western world, and the largest of the Big Oil companies in both production and market value. 

ExxonMobil's reserves were 20 billion BOE at the end of 2016 and the 2007 rates of production were expected to last more than 14 years. With 21 oil refineries constituting a combined daily refining capacity of 4.9 million barrels (780,000 m3), ExxonMobil is the second largest oil refiner in the world, trailing only Sinopec. Approximately 55.56% of the company's shares are held by institutions, the largest of which as of 2019 were The Vanguard Group (8.15%), BlackRock (6.61%), and State Street Corporation (4.83%).


History

ExxonMobil is an American multinational oil and gas corporation. In 1870, John D. Rockefeller founded the Standard Oil Company in Cleveland, Ohio and quickly monopolised the oil industry in the United States. In 1911, the U.S. Supreme Court ordered the breakup of Standard Oil, and 30 separate companies were formed, including Exxon and Mobil.

In the late 1920s, Standard Oil of New Jersey (now Exxon) and Standard Oil of New York (now Mobil) merged to form the Jersey Standard, which became the largest oil company in the world. In 1933, Jersey Standard changed its name to the Standard Oil Company of New Jersey, or Exxon.

In the 1940s, Exxon and Mobil collaborated on research and production of synthetic rubber and lubricants to help with the war effort. In 1948, the two companies formed Equilon Enterprises, which was a joint venture for refining, marketing, and transportation of oil.

In the 1950s, the two companies continued to expand their operations in the United States, Europe, and Asia. In 1959, Standard Oil of New Jersey and Standard Oil of New York merged to form ExxonMobil, becoming the largest oil company in the world at the time. The company has continued to grow and expand in the years since and is now one of the largest corporations in the world.

In the 1960s, Exxon (Standard Oil of New Jersey) began to diversify and expand its operations, investing heavily in research and development, and expanding its presence in the Middle East, Africa and Asia. Exxon was among the first companies to develop offshore oil and gas production in the Gulf of Mexico, and in the late 1960s, established a joint venture with the Kuwait Petroleum Company to develop the Rumaila oil field in Iraq.

In the 1970s, Exxon expanded its presence in the North Sea and the Arctic Ocean, and developed new technologies, such as horizontal drilling and hydraulic fracturing, to tap large oil and gas deposits. In the 1980s, Exxon acquired Mobil, and the two companies merged in 1999 to form ExxonMobil.

In the 2000s, ExxonMobil expanded its operations in the United States and abroad, including the acquisition of XTO Energy in 2009 and the joint venture with Rosneft in 2011. The company also invested heavily in research and development, particularly in biofuels and alternative energy sources.

In the 2010s, ExxonMobil continued to invest in research and development, and expanded its presence in the Arctic, Africa and the Middle East. The company also made a number of acquisitions and joint ventures, including the acquisition of InterOil in 2016 and the joint venture with Qatar Petroleum in 2017.

In 2020, ExxonMobil announced it would reduce its emissions by 15% by 2030.


Mission

ExxonMobil's mission is to be the world’s premier petroleum and petrochemical company. The company aims to fuel the world safely and responsibly

According to the company's website:

"To the end, we believe we must continuously achieve superior financial and operating results while simultaneously adhering to high ethical standards.”


Vision

ExxonMobil believes energy is fundamental to the world's economies. According to its website, ExxonMobil envisions to:

“Improving living standards around the globe requires affordable, reliable energy. Providing this energy is an enormous challenge - one that must be met practically, safely, and in an environmentally and socially responsible manner.”


Key Team

Darren Woods (Chairman & CEO)

Kathryn A. Mikells (Senior Vice President and Chief Financial Officer)

Jack P. Williams (Senior Vice President)

Neil A. Chapman (Senior Vice President)


Recognition and Awards
Fortune 500 and Fortune Global 500 Rankings: ExxonMobil consistently ranks among the top companies in the prestigious Fortune 500 list. As of 2022, it was ranked sixth on the Fortune 500, showcasing its significant market presence. Additionally, ExxonMobil holds the twelfth position on the Fortune Global 500, emphasizing its global standing. Largest Investor-Owned Oil Company: ExxonMobil holds the distinction of being the largest investor-owned oil company worldwide. With its vast reserves and extensive operations, the company plays a pivotal role in the global energy landscape. Production and Refining Capacity: ExxonMobil's production capabilities are substantial, with its reserves amounting to 20 billion BOE (barrels of oil equivalent) as of 2016. The company's daily refining capacity, powered by its 21 oil refineries, reaches an impressive 4.9 million barrels (780,000 m3). This positions ExxonMobil as the second-largest oil refiner globally, surpassed only by Sinopec.

Products and Services

Exploration and Production: ExxonMobil engages in the exploration, development, and production of oil and natural gas resources worldwide. They utilize advanced technologies and industry expertise to locate and extract hydrocarbons from onshore and offshore fields.

Refining and Marketing: ExxonMobil operates a vast refining network that converts crude oil into various refined products, including gasoline, diesel, jet fuel, lubricants, and chemicals. Their refineries employ advanced processes to produce high-quality fuels and other products that meet global energy demands.

Fuels and Lubricants: ExxonMobil is known for its extensive range of fuels and lubricants. They provide gasoline and diesel fuels that meet stringent quality standards, ensuring optimal performance and efficiency for vehicles. Additionally, their lubricants are designed to protect engines, machinery, and industrial equipment, enhancing their longevity and performance.

Chemicals: ExxonMobil is a major producer of petrochemicals, offering a diverse portfolio of chemical products. These chemicals serve various industries, including automotive, packaging, construction, consumer goods, and more. Their products include polymers, polyethylene, polypropylene, solvents, synthetic rubber, and specialty chemicals.

Technology and Innovation: ExxonMobil invests heavily in research and development to drive innovation in the energy sector. They develop advanced technologies to enhance exploration techniques, improve energy efficiency, and reduce environmental impact. Their innovations span areas such as carbon capture and storage, biofuels, and alternative energy solutions.

Sustainability and Environmental Initiatives: ExxonMobil is committed to addressing climate change and promoting sustainability. They actively work on reducing greenhouse gas emissions, improving energy efficiency, and investing in renewable energy projects. They also collaborate with stakeholders to develop sustainable solutions and support communities through various social and environmental initiatives.


References

 

ExxonMobil
Leadership team

Neil A. Chapman (Senior Vice President)

Kathryn A. Mikells (Senior Vice President and Chief Financial Officer)

Jack P. Williams (Senior Vice President)

Industries

Energy and Utilities

Products/ Services
Crude oil, Oil products, Natural gas, Petrochemicals, Power generation
Number of Employees
Above 50,000
Headquarters
5959 Las Colinas Blvd Irving, TX
Established
1870
Company Type
Public Limited Company
Company Registration
SEC CIK: 0001226649
Revenue
Above - 1B
Traded as
XOM
Social Media

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