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ExxonMobil

ExxonMobil

ExxonMobil is an american multinational oil and gas corporation founded in 1999 by John D. Rockefeller.

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Exxon Mobil Corporation, stylized as ExxonMobil, is an American multinational oil and gas corporation headquartered in Irving, Texas. It is the largest direct descendant of John D. Rockefeller's Standard Oil, and was formed on November 30, 1999, by the merger of Exxon (formerly the Standard Oil Company of New Jersey) and Mobil (formerly the Standard Oil Company of New York). ExxonMobil's primary brands are Exxon, Mobil, Esso, and ExxonMobil Chemical. ExxonMobil is incorporated in New Jersey.

One of the world's largest companies by revenue, ExxonMobil from 1996 to 2017 varied from the first to sixth largest publicly traded company by market capitalization. The company was ranked third globally in the Forbes Global 2000 list in 2016. ExxonMobil was the tenth most profitable company in the Fortune 500 in 2017. As of 2018, the company ranked second in the Fortune 500 rankings of the largest United States corporations by total revenue. Approximately 55.56% of the company's shares are held by institutions. As of March 2019, ExxonMobil's largest shareholders include The Vanguard Group (8.15%), BlackRock (6.61%), and State Street Corporation (4.83%).

ExxonMobil is one of the largest of the world's Big Oil companies. As of 2007, it had daily production of 3.921 million BOE (barrels of oil equivalent). In 2008, this was approximately 3% of world production, which is less than several of the largest state-owned petroleum companies.When ranked by oil and gas reserves, it is 14th in the world—with less than 1% of the total. 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 37 oil refineries in 21 countries constituting a combined daily refining capacity of 6.3 million barrels (1,000,000 m3), ExxonMobil is the seventh largest refiner in the world, a title that was also associated with Standard Oil since its incorporation in 1870.

ExxonMobil had been criticized for its slow response to cleanup efforts after the 1989 Exxon Valdez oil spill in Alaska, considered to be one of the world's worst oil spills in terms of damage to the environment. ExxonMobil has a history of lobbying for climate change denial and against the scientific consensus that global warming is caused by the burning of fossil fuels. The company has also been the target of accusations of improperly dealing with human rights issues, influence on American foreign policy, and its impact on the future of nations.

Timeline

January 2022
ExxonMobil stated that it was consolidating and restructuring certain elements of its business, the most prominent being the consolidation of its chemical and refinery sectors. ExxonMobil additionally formalized the creation of a new low-carbon sector, which will handle the company's biofuel and carbon capture ventures. Concurrently, the company announced it would be closing its headquarters in Irving, Texas, a suburb of Dallas, and moving to its recently-opened campus in the Houston suburb of Spring. The company released its 2021 Q4 Earnings early the next day on February 1, recording a 3-month profit of $8.9 Billion USD, jumping over 80%. ExxonMobil that day additionally announced that both its total debt was now around pre-pandemic levels, and it would begin buying back some of its shares.
December 2021
ExxonMobil announed it was committing to net-zero Scope I and Scope II emissions from its Permian Basin emissions by 2030. Later, in January 2022, ExxonMobil additionally announced it was going to meet net zero emissions for Scope I and Scope II emissions across its entire business by 2050. Despite these committments, the company was criticized for not fully committing to net zero Scope III emissions, leading to criticism from environmentalists.
October 2020
ExxonMobil announced that it will cut over 1,600 jobs in Europe as a result of the COVID-19 pandemic. According to the company, the job cuts are necessary in order to produce cost cuts and they will be implemented by the end of 2021. The number of job cuts represents one-tenth of the company's workforce, which was estimated at nearly 75,000 by the end of 2019.
August 2020
Exxonmobil was removed from the Dow Jones 30, reflecting a change of time in which oil companies have lost much of their value and influence. ExxonMobil has been in some form part of the Dow 30 since 1928.
June 2019
Following Washington D.C.'s increased sanctions on Iran, a rocket landed near the residential headquarters of ExxonMobil, Royal Dutch Shell, and ENI SpA. It came after two separate attacks on United States Military bases in Iraq and one week after two oil tankers being hit by a 'flying object' in the Gulf of Oman. The U.S. Navy's investigation has led to reasonable suspicion to believe Tehran's connection to the attacks.
2018
ExxonMobil created Exxchange, an online site where the company posts content in support of "smarter regulations" with regard to the oil and gas business and in defense of oil and gas jobs. The site attracted considerable controversy targeted towards both ExxonMobil and Edelman PR for their activities described by many as climate change denial.
July 2017
ExxonMobil filed a lawsuit against the Trump administration challenging the finding that the company violated sanctions imposed on Russia. William Holbrook, a company spokesman, said that the ExxonMobil had followed "clear guidance from the White House and Treasury Department when its representatives signed [in May 2014] documents involving ongoing oil and gas activities in Russia with Rosneft".
April 2017
Donald Trump's administration denied a request from ExxonMobil to allow it to resume oil drilling in Russia. Representative Adam Schiff (D-California) said that the "Treasury Department should reject any waiver from sanctions which would allow Exxon Mobil or any other company to resume business with prohibited Russian entities."
January 9, 2017
It was revealed that Infineum, a joint venture of ExxonMobil and Royal Dutch Shell headquartered in England, conducted business with Iran, Syria, and Sudan while those states were under US sanctions. ExxonMobil representatives said that because Infineum was based in Europe and the transactions did not involve any U.S. employees, this did not violate the sanctions.
January 2017
Federal climate investigations of ExxonMobil were considered less likely under the new Trump administration.

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Further Resources

Title
Author
Link
Type
Date

Celebrating 50 Years Of Supplier Diversity | ExxonMobil

https://youtu.be/OxuQnGHzM9M

Web

January 21, 2022

One-of-a-kind partners working on breakthrough innovations

https://youtu.be/W9JuYI1lIUA

Web

October 25, 2019

The Next Generation of STEM

https://youtu.be/OUNgFiskoS8

Web

March 30, 2020

References

exxonmobil.com
corporate.exxonmobil.com
Is a
Product
Product
Company
Company
Organization
Organization

Company attributes

Industry
Carbon capture and storage
Carbon capture and storage
Carbon sequestration
Carbon sequestration
Energy storage
Energy storage
Petroleum
Petroleum
‌
Seismology
Location
Irving, Texas
Irving, Texas
United States
United States
Spring, Texas
Spring, Texas
Wyoming
Wyoming
B2X
B2B2C
B2B2C
CEO
Darren Woods
Darren Woods
Founder
John D. Rockefeller
John D. Rockefeller
Pitchbook URL
pitchbook.com/profiles.../11566-63
Legal Name
EXXON MOBIL CORPORATION SECOND.
Parent Organization
BlackRock
BlackRock
The Vanguard Group
The Vanguard Group
Subsidiary
Esso
Esso
Exxon Neftegas
Exxon Neftegas
Forbes Travel Guide
Forbes Travel Guide
Exxon
Exxon
Mobil
Mobil
XTO Energy
XTO Energy
‌
Aera Energy
‌
Esso Australia
...
Legal classification
Corporation
Corporation
Date Incorporated
November 30, 1999
Number of Employees (Ranges)
10,001+
Number of Employees
74,900
Full Address
22777 Springwoods Village Parkway
22777 Springwoods Village Parkway. Spring, TX 77389-1425
5959 LAS COLINAS BLVD IRVING, TX 75039 UNITED STATES
CIK Number
34,088
Place of Incorporation
New Jersey
New Jersey
Investors
BlackRock
BlackRock
‌
Geode Capital Management
‌
Northern Trust Investments
‌
Fidelity Management & Research Co
DUNS Number
001213214
IRS Number
135,409,005
Founded Date
November 30, 1999
Email Address
emrewards@exxonmobil.com
Phone Number
+19729406000
Competitors
Global Biopolymers
Global Biopolymers
Braskem
Braskem
Valero Energy
Valero Energy
ConocoPhillips
ConocoPhillips
Schlumberger
Schlumberger
Sinopec
Sinopec
China National Petroleum Corporation
China National Petroleum Corporation
BP PLC
BP PLC
...
Business Model
Advertising
Stock Symbol
XOM
Exchange
New York Stock Exchange
New York Stock Exchange
Glassdoor ID
https://www.glassdoor.com/Reviews/ExxonMobil-Reviews-E237.htm
Board of Directors
‌
Michael J. Angelakis
‌
Ursula M. Burns
‌
Susan K. Avery
Angela F. Braly
Angela F. Braly
CTO
‌
Fred Carolinabreed
Former CEO
‌
Rex W. Tillerson
Lee Raymond
Lee Raymond
Rex Tillerson
Rex Tillerson
Key People
Darren Woods
Darren Woods
NAICS Code
211,120
CAGE Code
72190
Patents Assigned (Count)
37
Legal Entity Identifier
J3WHBG0MTS7O8ZVMDC912
Motto/Tagline
Put a tiger in your tank
Wellfound ID
exxonmobil

Product attributes

Product Parent Company
ExxonMobil
ExxonMobil

Other attributes

Blog
exxonmobilperspectives.com
Company Operating Status
Active
Strategic Partnerships
Waze
Waze
1
Contact Page URL
corporate.exxonmobil.com/Ab...ory
Country
United States
United States
Headquarters
Irving, Texas
Irving, Texas
Market Capitalization
366,980,000,000
Medium URL
medium.com/design-at...exxonmobil
Named After
Mobil
Mobil
Exxon
Exxon
Official Name
Exxon Mobil Corporation
Owner of
Imperial Oil
Imperial Oil
‌
Esso Australia
‌
Aera Energy
Forbes Travel Guide
Forbes Travel Guide
Exxon
Exxon
Esso
Esso
Exxon Neftegas
Exxon Neftegas
Mobil
Mobil
Public/Private
Public4
SIC Code
2,911
Ticker Symbol
XOM
Wikidata ID
Q156238

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