Exxon Mobil Corporation
Formerly
  • Standard Oil Company (New Jersey) (1882[1]–1973)
  • Exxon Corporation (1973–1999)
Company typePublic
ISINUS30231G1022
IndustryEnergy: Oil and gas
Predecessor
FoundedAugust 5, 1882; 141 years ago (1882-08-05) (as Standard Oil of New Jersey)[1]
FounderSplit from Standard Oil by the US Supreme Court in 1911; merged with Mobil in 1999 to form present name
HeadquartersUnincorporated Harris County near Spring, Texas, U.S.
Area served
Worldwide
Key people
Darren Woods
(Chairman & CEO)
Products
Brands
RevenueDecrease US$344.6 billion (2023)[3]
Decrease US$52.78 billion (2023)[3]
Decrease US$36.01 billion (2023)[3]
Total assetsIncrease US$376.3 billion (2023)[3]
Total equityIncrease US$204.8 billion (2023)[3]
Number of employees
61,500 (2023)[3]
ParentStandard Oil (1882–1911)
Subsidiaries
Websitecorporate.exxonmobil.com

ExxonMobil Corporation[a] (/ˌɛksɒnˈmoʊbəl/ EKS-on-MOH-bəl; commonly shortened to Exxon[4][5][6]) 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 near the Houston suburb of Spring, Texas, though officially incorporated in the U.S. state of New Jersey.[7][8]: 1  It is the largest United States-based oil and gas producing company. ExxonMobil is also the eighth largest company in the world by revenue and the third largest in the US.

The company’s history traces its earliest roots to 1866, with the formation of the Vacuum Oil Company, itself acquired by Standard Oil in 1879. The company that is today known as ExxonMobil grew out of the Standard Oil Company (New Jersey), the corporate entity which effectively controlled all of Standard Oil prior to its breakup. Jersey Standard grew alongside and with extensive partnership another Standard Oil descendant and its future merger partner, the Standard Oil Company of New York (Socony), both of which grew bigger by merging with various third companies like Humble Oil (which merged with Jersey Standard) and Vacuum Oil (merged with Socony). Both companies underwent rebranding in the 1960s and early 1970s, and by the time of the 1999 merger, Jersey Standard had been known as Exxon, and Socony known as Mobil. The merger agreement between Exxon and Mobil stipulated that Exxon would buy Mobil and rebrand as ExxonMobil, with Mobil's CEO becoming the vice-chairman of the company.[9] The archival records of the company and its predecessors dating back to the 1970s are held by The Center for American History at The University of Texas at Austin.[10]

ExxonMobil is one of the world's largest and most powerful companies. Since its merger, the company has varied from the first to tenth largest publicly traded company by revenue, and has one of the largest market capitalizations out of any company.[11][12] As of 2023, in the most recent rankings released in the Fortune 500, ExxonMobil was ranked third, and twelfth on the Fortune Global 500.[13] It 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.[14][15] Its reserves were 20 billion BOE at the end of 2016 and the 2007 rates of production were expected to last more than 14 years.[16] 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.[17][18] 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%).

ExxonMobil has been widely criticized, mostly for environmental incidents and its history of climate change denial against the scientific consensus that fossil fuels significantly contribute to global warming. The company is responsible for many oil spills, the largest and most notable of which was the Exxon Valdez oil spill in Alaska and itself considered to be one of the world's worst oil spills in terms of damage to the environment.[19][20] The company has also been the target of accusations of human rights violations, excessive influence on America's foreign policy, and its impact on various societies across the world.[21]

History

Main article: History of ExxonMobil

ExxonMobil traces its roots to Vacuum Oil Company, founded in 1866. Vacuum Oil later was acquired by Standard Oil in 1879, divested from Standard in 1911 with its breakup, and merged by the Standard Oil Company of New York (Socony), later known as Mobil, in 1931. After the 1911 breakup, Standard Oil continued to exist through its New Jersey subsidiary, sometimes shortened to Jersey Standard, and retained the Standard Oil name in much of the eastern United States. Jersey Standard grew by acquiring Humble Oil in the 1930s and became the dominant oil company on the world stage. The company's lack of ownership over the Standard Oil name across the United States, however, prompted a name change to unify all of its brands under one name, choosing to name itself Exxon in 1972 over continuing to use three distinct brands of Esso, Enco, and Humble.[22][9]

In 1998, the two companies agreed to merge and form ExxonMobil, with the deal closing on November 30, 1999. The two companies cited lower oil prices and a better ability to compete with other state-owned oil companies outside of the United States like Pemex and Aramco. With the deal, the two companies practically merged, with the new company's name containing both of the trade names of its immediate predecessors. However, the structure of the merger provided that Exxon was the surviving company and bought Mobil, rather than a new company being created.[9][23][24][25]

Operations

ExxonMobil is the largest non-government-owned company in the energy industry and produces about 3% of the world's oil and about 2% of the world's energy.[26]

ExxonMobil is vertically integrated into a number of global operating divisions. These divisions are grouped into three categories for reference purposes, though the company also has several standalone divisions, such as Coal & Minerals. It also owns hundreds of smaller subsidiaries such as XTO Energy and SeaRiver Maritime. ExxonMobil also has a majority ownership stake in Imperial Oil.[27]

Upstream

The upstream division makes up the majority of ExxonMobil's revenue, accounting for approximately 70% of it.[29] In 2021, ExxonMobil had about 30 billion barrels of oil and oil equivalents, as well as 38.1 billion cubic feet of natural gas.[30]

In the United States, ExxonMobil's petroleum exploration and production activities are concentrated in the Permian Basin, Bakken Formation, Woodford Shale, Caney Shale, and the Gulf of Mexico. In addition, ExxonMobil has several gas developments in the regions of Marcellus Shale, Utica Shale, Haynesville Shale, Barnett Shale, and Fayetteville Shale. All natural gas activities are conducted by its subsidiary, XTO Energy. As of December 31, 2014, ExxonMobil owned 14.6 million acres (59,000 km2) in the United States, of which 1.7 million acres (6,900 km2) were offshore, 1.5 million acres (6,100 km2) of which were in the Gulf of Mexico.[31] In California, it has a joint venture called Aera Energy LLC with Shell Oil. In Canada, the company holds 5.4 million acres (22,000 km2), including 1 million acres (4,000 km2) offshore and 0.7 million acres (2,800 km2) of the Kearl Oil Sands Project.[31]

In Argentina, ExxonMobil holds 0.9 million acres (3,600 km2) and 4.9 million acres (20,000 km2) in Germany. In the Netherlands ExxonMobil owns 1.5 million acres (6,100 km2), in Norway it owns 0.4 million acres (1,600 km2) offshore, and the United Kingdom 0.6 million acres (2,400 km2) offshore. In Africa, upstream operations are concentrated in Angola, where it owns 0.4 million acres (1,600 km2) offshore, Chad where it owns 46,000 acres (19,000 ha), Equatorial Guinea, where it owns 0.1 million acres (400 km2) offshore, and Nigeria, where it owns 0.8 million acres (3,200 km2) offshore.[31] In addition, ExxonMobil plans to start exploration activities off the coast of Liberia and the Ivory Coast.[32][33] In the past, ExxonMobil had exploration activities in Madagascar, however these operations were ended due to unsatisfactory results.[34]

In Asia, it holds 9,000 acres (3,600 ha) in Azerbaijan, 1.7 million acres (6,900 km2) in Indonesia, of which 1.3 million acres (5,300 km2) are offshore, 0.7 million acres (2,800 km2) in Iraq, 0.3 million acres (1,200 km2) in Kazakhstan, 0.2 million acres (810 km2) in Malaysia, 65,000 acres (26,000 ha) in Qatar, 10,000 acres (4,000 ha) in Yemen, 21,000 acres (8,500 ha) in Thailand, and 81,000 acres (33,000 ha) in the United Arab Emirates.[31]

Russia operations

Until the 2022 Russian invasion of Ukraine, ExxonMobil held 85,000 acres (34,000 ha) in the Sakhalin-I project through its subsidiary Exxon Neftegas. Together with Rosneft, it has developed 63.6 million acres (257,000 km2) in Russia, including the East-Prinovozemelsky field. In Australia, ExxonMobil held 1.7 million acres (6,900 km2), including 1.6 million acres (6,500 km2) offshore. It also operates the Longford Gas Conditioning Plant, and participates in the development of Gorgon LNG project. In Papua New Guinea, it holds 1.1 million acres (4,500 km2), including the PNG Gas project.[31] After Russia's 2022 invasion began, though, ExxonMobil announced it was fully pulling out of both Russia and Sakhalin-I, and launched a lawsuit against Russia's federal government on August 30.[35]

Product Solutions

An ExxonMobil gas station in Hiawassee, Georgia

ExxonMobil formed its Product Solutions division in 2022, combining its previously separate Downstream and Chemical divisions into a single company.[36]

Downstream and Retail

ExxonMobil markets products around the world under the brands of Exxon, Mobil, and Esso. Mobil is ExxonMobil's primary retail gasoline brand in California, Florida, New York, New England, the Great Lakes, and the Midwest. Exxon is the primary brand in the rest of the United States, with the highest concentration of retail outlets located in New Jersey, Pennsylvania, Texas (shared with Mobil), and in the Mid-Atlantic and Southeastern states. ExxonMobil has stations in 46 states, just behind Shell USA and ahead of Phillips 66, lacking a presence only in Alaska, Hawaii, Iowa, and Kansas.[37]

Outside of the United States, Esso and Mobil are primarily used, with Esso operating in 14 countries and Mobil operating in 29 countries and regions.[38]

In Japan, ExxonMobil had a 22% stake in TonenGeneral Sekiyu K.K., a refining company that merged into Eneos in 2017.[39][40]

ExxonMobil's primary retail brands worldwide are Exxon, Esso, Mobil, with the former being used exclusively in the United States and the latter two being used in most other countries where ExxonMobil operates. Esso is the only one of its brands not used widely in the United States. Since 2008, Mobil is the only brand for the company lubricants. Since 2018, ExxonMobil has operated a loyalty program, ExxonMobil Rewards+, where customers earn rewards points when filling up at its stations in the United States and later the United Kingdom.[41][42][43]

Chemicals

ExxonMobil Chemical is a petrochemical company that was created by merging Exxon's and Mobil's chemical industries in 1999. Its principal products include basic olefins and aromatics, ethylene glycol, polyethylene, and polypropylene along with speciality lines such as elastomers, plasticizers, solvents, process fluids, oxo alcohols and adhesive resins. The company also produces synthetic lubricant base stocks as well as lubricant additives, propylene packaging films and catalysts. ExxonMobil is the largest producer of butyl rubber.[44] Infineum, a joint venture with Shell plc, is manufacturing and marketing crankcase lubricant additives, fuel additives, and specialty lubricant additives, as well as automatic transmission fluids, gear oils, and industrial oils.[45]

Sponsorships

Main article: Mobil 1

Mobil 1, a brand of synthetic motor oil, is a major sponsor of multiple racing teams and as the official motor oil of NASCAR since 2003.[46] ExxonMobil is currently in partnerships with Oracle Red Bull Racing in Formula One and Kalitta Motorsports.[47][48][49]

Refineries

ExxonMobil operates 21 refineries worldwide, and the company claims 80% of its refining capacity is integrated with chemical or lube basestocks. ExxonMobil's largest refinery overall is its Beaumont Refinery and its second largest in the United Stats is its Baytown Refinery, located in Baytown, Texas. Its second largest refinery overall is its Jurong Island facility in Singapore. ExxonMobil's global average refining capacity was 4.6 million barrels per day, with the United States producing a plurality of the company's refining capacity at about 1.77 million barrels per day. ExxonMobil's corporate website claims it refines almost 5 million barrels per day.[50][51][52][53]

ExxonMobil was one of few U.S. refiners to expand capacity by a significant margin following an industry downturn suffered during the COVID-19 pandemic.[54] The company completed a 250,000 barrels per day expansion at its Beaumont, Texas, refinery in early 2023.[55]

Low Carbon Solutions

Officially formed with ExxonMobil's 2022 corporate restructuring, and currently led by former General Motors president Dan Ammann, Low Carbon Solutions is the company's alternative energy division. The division says it will lower emissions in hard-to-decarbonize sectors such as heavy industry, commercial transportation, and power generation using a combination of lower-emission fuels, hydrogen, and carbon capture and storage. Low Carbon Solutions conducts research on clean energy technologies, including algae biofuels, biodiesel made from agricultural waste, carbonate fuel cells, and refining crude oil into plastic by using a membrane and osmosis instead of heat.[56][57] The company speculated in April 2023 that pending good economic conditions, the low-carbon solutions business could eclipse the value of its oil and gas operations.[58]

The company is in the process of designing its inaugural large-scale plant dedicated to producing low-carbon hydrogen, situated within its refining and petrochemical complex in Baytown, Texas. This project is set to become the world's largest low-carbon hydrogen project.[59][60]

Carbon capture and storage

ExxonMobil publicly announced it would be investing $15 billion in what it deemed a "lower carbon future", and claims to be the world leader in carbon capture and storage (CCS). The company additionally plans that its Scope 1 and Scope 2 emissions will be carbon neutral by 2050. ExxonMobil additionally acquired biofuel company Biojet AS in 2022, and its Canadian subsidiary Imperial Oil is moving ahead with plans to produce a renewable diesel biofuel.[61][62] In July 2023, Exxon agreed to acquire Denbury Resources for $4.9 billion to further its low-carbon efforts.[63]

Low-carbon energy projects

Exxon is working on low-carbon energy projects, focusing on basic research in five to ten key areas. This work spends a fraction of the $1 billion a year Exxon spends on research worldwide and the $8 billion it has spent since 2000 researching, developing and deploying low-carbon technologies Projects include: algae biofuels, biodiesel from agricultural waste, molten carbonate fuel cells, and new ways to manufacture plastic that produce less carbon dioxide.[64]

Corporate affairs

Big Oil companies[b]
Company Revenue (USD)[65] Profit (USD) Brands
ExxonMobil $286 billion $23 billion Mobil
Esso
Imperial Oil
Shell plc $273 billion $20 billion Jiffy Lube
Pennzoil
TotalEnergies $185 billion $16 billion Elf Aquitaine
SunPower
BP $164 billion $7.6 billion Amoco
Aral AG
Chevron $163 billion $16 billion Texaco
Caltex
Havoline
Marathon $141 billion $10 billion ARCO[66]
Phillips 66 $115 billion $1.3 billion 76
Conoco
JET
Valero $108 billion $0.9 billion —
Eni $77 billion $5.8 billion —
ConocoPhillips $48.3 billion $8.1 billion —

Business trends

According to Fortune Global 500, ExxonMobil was the second largest company, second largest publicly held corporation, and the largest oil company in the United States by 2017 revenue.[67] For the fiscal year 2020, ExxonMobil reported a loss of US$22.4 billion, with an annual revenue of US$181.5 billion, a decline of 31.5% over the previous fiscal cycle.[68]

The key trends of ExxonMobil are (as at the financial year ending December 31):[69]

Year Revenue
(US$ bn) 		Net income/
loss
(US$ bn) 		Total assets
(US$ bn) 		Price per share
(US$)
[citation needed] 		Employees
2008[70] 477 45.2 228 82.68 79,900
2009[70] 310 19.2 233 70.95 80,700
2010[71] 383 30.4 302 64.99 83,600
2011[72] 486 41,0 331 79.71 82,100
2012[73] 480 44.8 333 86.53 76,900
2013[74] 438 32.5 346 90.50 75,000
2014[75] 411 32.5 349 97.27 75,300
2015[76] 249 16.1 336 82.82 73,500
2016[76] 208 7.8 330 86.22 71,100
2017[77] 244 19.7 348 81.86 69,600
2018[78] 290 20.8 346 79.96 71,000
2019[79] 264 14.3 362 73.73 74,900
2020[68] 181 –22.4 332 44.52 72,000
2021[80] 285 23.0 338 57.96 63,000
2022[81] 413 55.7 369 110.30 62,300
2023[3] 344 36.0 376 61,500

Headquarters and offices

ExxonMobil Building. Former ExxonMobil offices in Downtown Houston were vacated in early 2015.

ExxonMobil's headquarters are located in Spring, Texas, a suburb of Houston.[82][83]

The company decided to consolidate its Houston operations into one new campus located in northern Harris County and vacate its offices on 800 Bell St. which it had occupied since 1963.[84] The new operation complex includes twenty office buildings totaling 3,000,000 square feet (280,000 m2), a wellness center, laboratory, and three parking garages.[85] It is designed to house nearly 10,000 employees.

Board of directors

The current chairman of the board and CEO of ExxonMobil Corp. is Darren W. Woods. Woods was elected chairman of the board and CEO effective January 1, 2017, after the retirement of former chairman and CEO Rex Tillerson. Before his election as chairman and CEO, Woods was elected president of ExxonMobil and a member of the board of directors in 2016.[86]

As of July 28, 2021, the current ExxonMobil board members are:[87]

Hooley is presently the lead independent director, having succeeded former Merck CEO Kenneth Frazier upon his retirement in May 2022.[88] Three of the directors nominated at the last Annual General Meeting were nominated after a proxy battle against hedge fund Engine No.1 and were nominated against the suggestion of the board.[89]

Key executives

ExxonMobil's key executives are:[90]

Controversies

Main article: Criticism of ExxonMobil
Extinction Rebellion protestors demonstrating against ExxonMobil

Climate change denial

Further information: ExxonMobil climate change denial

ExxonMobil's environmental record has faced much criticism for its stance[91] and impact on global warming.[92] In 2018, the Political Economy Research Institute ranks ExxonMobil tenth among American corporations emitting airborne pollutants,[93] thirteenth by emitting greenhouse gases,[94]. A 2017 report places ExxonMobil as the fifth largest contributor to greenhouse gas emissions from 1988 to 2015.[95][96] As of 2005, ExxonMobil had committed less than 1% of their profits towards researching alternative energy,[97] which, according to the advocacy organization Ceres, is less than other leading oil companies.[98][needs update] According to the 2021 Arctic Environmental Responsibility Index (AERI), ExxonMobil is ranked as the sixth most environmentally responsible company among 120 oil, gas, and mining companies involved in resource extraction north of the Arctic Circle.[99] As of 2020, ExxonMobil has been responsible for more than 3,000 oil spills and leakages which resulted in a loss of more than one barrel of oil, with the most in a single year being 484 spills in 2011.[100] Additionally, since 1965, ExxonMobil has released more than 40 billion tons of carbon dioxide pollution.[101]

In 2023, Science journal published a paper reporting that the global warming projections and models created by ExxonMobil's own scientists between 1977 and 2003 had "accurately" projected and "skillfully" modeled global warming due to fossil fuel burning, and had reasonably estimated how much CO2 would lead to dangerous warming. The authors of the paper concluded: "Yet, whereas academic and government scientists worked to communicate what they knew to the public, ExxonMobil worked to deny it."[102][103]

Between the 1980s and 2014, ExxonMobil was a notable denier of climate change, though the company officially changed its position in 2014 to acknowledge the existence of climate change. ExxonMobil's prolonged response incited the creation of the Exxon Knew movement, which aims to hold the company accountable for various climate-related incidents. ExxonMobil has used its own website to attack Exxon Knew, claiming that it is a coordinated effort to defame the company.[104][105][106]

In December 2022, U.S. House Oversight and Reform Committee Chair Carolyn Maloney and U.S. House Oversight Environment Subcommittee Chair Ro Khanna sent a memorandum to all House Oversight and Reform Committee members summarizing additional findings from the committee's investigation into the fossil fuel industry disinformation campaign to obscure the role of fossil fuels in causing global warming. Upon reviewing internal company documents, they accused ExxonMobil along with BP, Chevron, and Shell of greenwashing their Paris Agreement carbon neutrality pledges while continuing long-term investment in fossil fuel production and sales, for engaging in a campaign to promote the use of natural gas as a clean energy source and bridge fuel to renewable energy, and of intimidating journalists reporting about the companies' climate actions and of obstructing the committee's investigation, which ExxonMobil, Shell, and the American Petroleum Institute denied.[107][108][109]

Oil spills and plastic pollution

Exxon Valdez oil spill cleanup

ExxonMobil's operations have been subject to numerous oil spills both before and after the 1999 merger. The most widely publicized oil spill was the 1989 Valdez oil spill, where an Exxon tanker discharged approximately 11 million U.S. gallons (42,000 m3) of oil into Prince William Sound,[110] oiling 1,300 miles (2,100 km) of the remote Alaskan coastline. The spill remains the second largest in American history, only trailing BP's Deepwater Horizon spill in the Gulf of Mexico.[111]

ExxonMobil was also responsible for various other oil spills across the world. Some of Exxon's largest and most notable oil spills in the United States include long-lasting oil leaks totaling into an estimated 30 million gallon spill into New York City's Newtown Creek over the course of a century by Exxon and other Standard Oil predecessors,[112] a 2011 oil spill which leaked 1,500 barrels of oil into the Yellowstone River (resulting in about $135 million in damages),[113] and a 2012 1,900 barrel (80,000 gallon) spill from the company's Baton Rouge Refinery in the rivers of Point Coupee Parish, Louisiana.[114] ExxonMobil's actives in Louisiana in particular, especially its Baton Rouge Refinery, have given the area the nickname of Cancer Alley. The company's activities, along with other operations and refineries in the area, have been the source of increased cancer infections, lower air quality, and as seen by some, potential environmental racism committed by the company.[115][116]

In May 2021, ExxonMobil topped the Plastic Waste Makers Index report published by the Minderoo Foundation of 20 petrochemical companies that manufactured 55 percent of the single-use plastic waste in the world in 2019 (which were part of a larger group of 100 petrochemical companies that manufactured 90 percent of the waste),[117][118] while in April 2022, California Attorney General Rob Bonta issued a subpoena to ExxonMobil for information related to the company's role in overstating the effectiveness of plastic recycling in reducing plastic pollution as part of an industry campaign to promote plastic usage.[119][120][121]

Geopolitical influence and human rights violations

See also: Conflict in the Niger Delta
Former CEO Rex Tillerson as Secretary of State, with Saudi Crown Prince Mohammed bin Salman, May 2017

ExxonMobil has also been accused of human rights violations and abusing its geopolitical influence.[21] In the book Private Empire by Steve Coll, ExxonMobil is described as extremely powerful "corporate state within the American state" in dealing with the countries in which it drills, going to the point as describing such countries' governments as "constrained".[122] The company's corporate ancestors are also blamed for the outbreak of the 1954 Jebel Akhdar War, which was sparked by the Iraq Petroleum Company's activities.[123][124]

Indonesia

Main article: Accusations of ExxonMobil human rights violations in Aceh

Beginning in the late 1980s, ExxonMobil (through predecessor Mobil) hired military units of the Indonesian National Army to provide security for their gas extraction and liquefaction project in Aceh, Indonesia, and these military units were accused of committing human rights violations. ExxonMobil eventually pulled out from Indonesia completely in 2001, while denying any wrongdoing.[125]

Other controversies

During a 2022 surge in profits among ExxonMobil and other large oil companies, partly due to the war in Ukraine,[126][127] U.S. President Joe Biden criticized ExxonMobil. In June 2022, amid record oil prices, he said that "Exxon made more money than God this year".[128] When the oil giant reported its second quarter earnings in 2022, CNN reported that Exxon made US$2,245.62 per second in profit across the 92-day long second quarter.[129]

See also

Notes

  1. ^ In official SEC filings, the company is split into two words and phrased as Exxon Mobil Corporation. However, in most media and communications, the two names are merged into a single word. Occasionally, the company is also abbreviated to EM, especially with regard to the company's retail rewards program.
  2. ^ Data is based on the 2022 Fortune 500.

References

  1. ^ a b "EXXON MOBIL CORPORATION". opencorporates.com. Retrieved September 20, 2022.
  2. ^ Motley Fool Staff (February 10, 1999). "Exxon Mobil (Drip Port) February 10, 1999". The Motley Fool. Retrieved September 20, 2022.
  3. ^ a b c d e f g 10-K 2023.
  4. ^ Bloom, Michael (August 29, 2022). "Here are Monday's biggest analyst calls: Tesla, Amazon, Exxon, Costco, Apple & more". CNBC. Retrieved August 29, 2022.
  5. ^ Staff (August 29, 2022). "Exxon should not participate in upcoming auction of oil blocks—Patterson". Stabroek News. Retrieved August 29, 2022.
  6. ^ Crowley, Kevin (July 29, 2022). "Exxon CEO Loves What Manchin Did for Big Oil in $370 Billion Deal". Bloomberg News. Retrieved August 29, 2022.
  7. ^ "Certificate of incorporation and by-laws". ExxonMobil. June 20, 2001. Archived from the original on March 25, 2023. Retrieved September 19, 2022.[self-published source]
  8. ^ 10-K 2018.
  9. ^ a b c Kumar, B. Rajesh (2019), Kumar, B. Rajesh (ed.), "ExxonMobil Merger", Wealth Creation in the World's Largest Mergers and Acquisitions: Integrated Case Studies, Management for Professionals, Cham: Springer International Publishing, pp. 101–109, doi:10.1007/978-3-030-02363-8_9, ISBN 978-3-030-02363-8, S2CID 239577792, retrieved September 15, 2022(subscription required)
  10. ^ Leahy, Cory (October 1, 2003). "ExxonMobil Corporation donates historical archives to university's Center for American History". UT News. Retrieved January 9, 2024.
  11. ^ "Apple loses title of world's most valuable company to Exxon". Fox News. Associated Press. October 22, 2015. Archived from the original on April 18, 2013. Retrieved April 18, 2013.
  12. ^ "Fortune 500". Forbes. Retrieved November 20, 2020.
  13. ^ "Exxon Mobil | 2022 Fortune 500". Fortune. Retrieved July 12, 2022.
  14. ^ "Global 500". Fortune. Retrieved August 4, 2022.
  15. ^ "Top ten companies by oil production". Offshore Technology. May 14, 2019. Archived from the original on June 5, 2022. Retrieved August 4, 2022.
  16. ^ "Exxon Mobil Corporation Announces 2013 Reserves Replacement Totaled". marketwatch.com. Archived from the original on November 29, 2014. Retrieved October 24, 2014.
  17. ^ "Oil companies with largest refining capacity 2019". Statista. Retrieved September 2, 2022.
  18. ^ "A look inside Downstream". ExxonMobil. Archived from the original on August 31, 2022. Retrieved September 2, 2022.
  19. ^ Holusha, John (April 21, 1989). "Exxon's Public-Relations Problem". The New York Times. ISSN 0362-4331. Retrieved July 9, 2020.
  20. ^ "11 Major Oil Spills Of The Maritime World". Marine Insight. Retrieved July 9, 2020.
  21. ^ a b Ian Thompson (July 30, 2012). "Private Empire: ExxonMobil and American Power". The Daily Telegraph. London. Archived from the original on February 11, 2018. Retrieved April 3, 2018.
  22. ^ for the City of Rochester (September 1990). "Detailed Historical Site Assessment of the Vacuum Oil Company's facilities and locations" (PDF). New York Department of Environmental Conservation. Retrieved May 8, 2023.
  23. ^ Brooks, Nancy Rivera (December 2, 1998). "Exxon and Mobil Agree to Biggest Merger Ever". Los Angeles Times. Retrieved April 8, 2020.
  24. ^ "The Exxon - Mobil Merger Controversy|Business Strategy|Case Study|Case Studies". www.icmrindia.org. Retrieved May 9, 2023.
  25. ^ "U.S. to Allow Mobil Deal With Exxon". www.washingtonpost.com. Retrieved May 9, 2023.
  26. ^ "Exxon Mobil eyes multi-billion dollar investment at Singapore refinery | Market Report Company – analytics, Prices, polyethylene, polypropylene, polyvinylchloride, polystyrene, Russia, Ukraine, Europe, Asia, reports". www.mrcplast.com. Archived from the original on April 3, 2019. Retrieved April 3, 2019.
  27. ^ TopBlog. "Energy Choices: ExxonMobil – Exxon Energy". Energy Choices (in Indonesian). Archived from the original on April 3, 2019. Retrieved April 3, 2019.
  28. ^ "Business divisions". ExxonMobil. Retrieved August 31, 2022.
  29. ^ "Financial operations overview and highlights | ExxonMobil". ExxonMobil. Archived from the original on October 24, 2018. Retrieved October 24, 2018.
  30. ^ "ExxonMobil's proved reserves by product type 2021". Statista. Retrieved August 31, 2022.
  31. ^ a b c d e "Exxon Mobil Corp (XOM)". Reuters. Archived from the original on January 9, 2016. Retrieved January 9, 2016.
  32. ^ Toweh, Alphonso (November 13, 2015). "Exxon Mobil to drill offshore post-Ebola Liberia". Reuters. Archived from the original on January 26, 2016. Retrieved January 9, 2016.
  33. ^ Bavier, Joe (December 17, 2014). "Ivory Coast signs deals with ExxonMobil for two oil blocks". Reuters. Archived from the original on January 26, 2016. Retrieved January 9, 2016.
  34. ^ Rabary, Lovasoa (July 4, 2015). "Exxon Mobil ends oil exploration in Madagascar after poor finds -minister". Reuters. Archived from the original on January 26, 2016. Retrieved January 9, 2016.
  35. ^ "Exxon escalates dispute with Russia over barred exit from oil project - WSJ". Reuters. August 30, 2022. Retrieved August 31, 2022.
  36. ^ Valle, Sabrina (February 1, 2022). "Exxon unveils sweeping restructuring in latest cost cutting move". Reuters. Retrieved August 31, 2022.
  37. ^ Exxon Mobil gas station locations in the USA. Scrape Hero. Archived from the original (PNG) on November 19, 2021.
  38. ^ "Our global brands". ExxonMobil. Retrieved August 31, 2022.
  39. ^ "Exxon in Talks to Restructure Stake in Japan Refining Unit". Bloomberg News. January 5, 2012. Archived from the original on January 24, 2016. Retrieved March 6, 2017.
  40. ^ Okada, Yuji; Adelman, Jacob (January 30, 2012). "TonenGeneral to Buy Exxon Japan Refining, Marketing Unit for $3.9 Billion". Bloomberg. Archived from the original on January 24, 2016. Retrieved January 30, 2012.
  41. ^ "ExxonMobil launches new Exxon Mobil rewards loyalty program". ExxonMobil. Retrieved October 5, 2022.
  42. ^ Paul, Trina. "These 5 gas rewards programs that can save you money at the pump". CNBC. Retrieved October 5, 2022.
  43. ^ "Esso and Nectar to launch new loyalty partnership | ExxonMobil United Kingdom". ExxonMobil. Retrieved October 5, 2022.
  44. ^ "ExxonMobil chemicals: petrochemicals since 1886". ExxonMobil.com. Archived from the original on January 24, 2016. Retrieved January 14, 2016.
  45. ^ "Infineum". Archived from the original on September 25, 2015. Retrieved September 23, 2015.
  46. ^ "NASCAR® engines use Mobil 1™ | Mobil™". www.mobil.com. Retrieved August 31, 2022.
  47. ^ "Formula One® – The Mobil 1™/Red Bull Racing partnership". www.mobil.com. Retrieved August 31, 2022.
  48. ^ "Mobil 1™ Returns to NHRA Racing With Multi-Year Sponsorship of Toyota Racing Development and Kalitta Motorsports". www.businesswire.com. December 12, 2019. Retrieved August 31, 2022.
  49. ^ Sam (February 14, 2011). "McLaren extends Mobil 1 partnership". Racecar Engineering. Retrieved August 31, 2022.
  50. ^ "A look inside Downstream". ExxonMobil. Archived from the original on August 31, 2022. Retrieved August 31, 2022.
  51. ^ "ExxonMobil refining capacity by region 2021". Statista. Retrieved August 31, 2022.
  52. ^ "4 of Nation's 10 Largest Oil Refineries Located Along Texas Gulf Coast". Zehl & Associates. January 4, 2022. Retrieved September 2, 2022.
  53. ^ admin. "World's Largest Refineries | Oilandgasclub.com". Retrieved September 2, 2022.
  54. ^ "US refiners invest sparingly in new capacity | Argus Media". www.argusmedia.com. May 26, 2022. Retrieved November 1, 2023.
  55. ^ "ExxonMobil boosts fuel supply with $2 billion Beaumont refinery expansion". ExxonMobil. Retrieved November 1, 2023.
  56. ^ Hirtenstein, Anna (November 3, 2017). "Exxon Quietly Researching Hundreds of Green Projects". Bloomberg. Archived from the original on March 18, 2018. Retrieved March 18, 2018.
  57. ^ "ExxonMobil restructuring with low-carbon solutions at forefront". Environment + Energy Leader. February 2, 2022. Retrieved August 31, 2022.
  58. ^ Jacobs, Justin (April 4, 2023). "ExxonMobil says low-carbon business could one day eclipse oil and gas". Financial Times. Retrieved September 21, 2023.
  59. ^ "ExxonMobil's low-carbon hydrogen plant to be world's biggest". energydigital.com. August 14, 2023. Retrieved August 14, 2023.
  60. ^ West, Terence (August 14, 2023). "The Largest Low-Carbon Hydrogen Project in the World". EnergyPortal.eu. Retrieved August 14, 2023.
  61. ^ "ExxonMobil Acquires Large Stake in Biofuel Company Biojet AS". Environment + Energy Leader. January 12, 2022. Retrieved August 31, 2022.
  62. ^ "Why we're investing $15 billion in a lower-carbon future". ExxonMobil. Retrieved August 31, 2022.
  63. ^ "Exxon Mobil buys Denbury, pipeline company with carbon capture expertise, for $5 billion". Associated Press. July 13, 2023.
  64. ^ "Exxon Quietly Researching Hundreds of Green Projects". Bloomberg. Retrieved January 29, 2024.
  65. ^ "Fortune 500". Fortune. Retrieved November 17, 2022.
  66. ^ "Marathon Petroleum". Marathon Petroleum Corporation . Retrieved October 26, 2023.
  67. ^ "Fortune Global 500 List 2018". Fortune. Archived from the original on May 9, 2012. Retrieved March 22, 2019.
  68. ^ a b "2020 Financial and Operating Data" (PDF). ExxonMobil. April 2, 2021. Retrieved May 28, 2021.
  69. ^ "Exxon Mobil Fundamentalanalyse | KGV | Kennzahlen". boerse.de (in German). Retrieved April 6, 2024.
  70. ^ a b "2009 Annual Report" (PDF). Annualreports.com. Archived (PDF) from the original on November 12, 2018. Retrieved November 11, 2018.
  71. ^ "2010 Annual Report" (PDF). Annualreports.com. Archived (PDF) from the original on April 3, 2018. Retrieved November 11, 2018.
  72. ^ "2011 Annual Report" (PDF). Annualreports.com. Archived (PDF) from the original on January 31, 2018. Retrieved November 11, 2018.
  73. ^ "2012 Annual Report" (PDF). Annualreports.com. Archived (PDF) from the original on November 12, 2018. Retrieved November 11, 2018.
  74. ^ "2013 Annual Report" (PDF). Annualreports.com. Archived (PDF) from the original on November 12, 2018. Retrieved November 11, 2018.
  75. ^ "2014 Annual Report" (PDF). Annualreports.com. Archived (PDF) from the original on November 12, 2018. Retrieved November 11, 2018.
  76. ^ a b "2016 Annual Report" (PDF). Annualreports.com. Archived (PDF) from the original on November 12, 2018. Retrieved November 11, 2018.
  77. ^ "ExxonMobil Earns $19.7 Billion in 2017; $8.4 Billion in Fourth Quarter". ExxonMobil News Releases. Archived from the original on October 12, 2018. Retrieved November 11, 2018.
  78. ^ "2018 SUMMARY ANNUAL REPORT" (PDF). ExxonMobil News Releases. Archived (PDF) from the original on June 14, 2019. Retrieved August 19, 2019.
  79. ^ "2019 Summary Annual Report" (PDF). Exxon Mobil. April 28, 2023.
  80. ^ "2021 Financial and Operating Data" (PDF). ExxonMobil. Retrieved May 28, 2022.
  81. ^ 10-K 2022.
  82. ^ "Business Headquarters Archived May 11, 2012, at the Wayback Machine." ExxonMobil. Retrieved March 6, 2012.
  83. ^ Takahashi, Paul (January 31, 2022). "Exxon to move headquarters to Houston, from Dallas-area Irving". Houston Chronicle. Retrieved January 31, 2022.
  84. ^ "ExxonMobil's New Campus: Giving Houston a Second Energy Corridor". Urban Land Magazine. May 4, 2015. Retrieved July 9, 2020.
  85. ^ Sarnoff, Nancy (January 28, 2010). "ExxonMobil is considering a move". Houston Chronicle. Archived from the original on July 31, 2010. Retrieved August 14, 2010.
  86. ^ "Exxon Mobil Corporation, Form 8-K, Current Report, Filing Date Dec 16, 2016" (PDF). secdatabase.com. Archived (PDF) from the original on April 24, 2018. Retrieved April 23, 2018.
  87. ^ "Exxon Mobil Corp. Board of Directors". Exxon Mobil Corp. Retrieved December 29, 2021.
  88. ^ "ExxonMobil Lead Director Ken Frazier to Retire; Jay Hooley to Become Lead Director". www.businesswire.com. March 22, 2022. Retrieved March 29, 2022.
  89. ^ Herbst-Bayliss, Svea (June 29, 2021). "Little Engine No. 1 beat Exxon with just $12.5 mln – sources". Reuters. Retrieved June 11, 2022.
  90. ^ "Mergent Online - Company Detail : ExxonMobil". www.mergentonline.com. Retrieved September 22, 2022.
  91. ^ "Irving-based ExxonMobil pledges to go net-zero by 2050". January 25, 2022.
  92. ^ "Big US Pension Fund Joins Critics Of ExxonMobil Climate Stance". Energy-daily.com. Archived from the original on July 26, 2011. Retrieved July 11, 2011.
  93. ^ "Toxic 100 Air Polluters Index (2018 Report, Based on 2015 Data)". Political Economy Research Institute. October 26, 2016. Archived from the original on December 20, 2018. Retrieved December 20, 2018.
  94. ^ "Greenhouse 100 Polluters Index (2018 Report, Based on 2015 Data)". Political Economy Research Institute. April 21, 2015. Archived from the original on December 20, 2018. Retrieved December 20, 2018.
  95. ^ Riley, Tess (July 10, 2017). "Just 100 companies responsible for 71% of global emissions, study says". The Guardian. ISSN 0261-3077. Retrieved May 6, 2020.
  96. ^ "New report shows just 100 companies are source of over 70% of emissions – CDP". www.cdp.net. Retrieved May 6, 2020.
  97. ^ Mufson, Steven (April 2, 2008). "Familiar Back and Forth With Oil Executives". The Washington Post. Archived from the original on November 11, 2012. Retrieved July 11, 2011.
  98. ^ "ERES: ExxonMobil Shareholders Relying on Fumes". Heatisonline.org. Archived from the original on July 21, 2011. Retrieved July 11, 2011.
  99. ^ Overland, Indra; Bourmistrov, Anatoli; Dale, Brigt; Irlbacher-Fox, Stephanie; Juraev, Javlon; Podgaiskii, Eduard; Stammler, Florian; Tsani, Stella; Vakulchuk, Roman; Wilson, Emma C. (May 2021). "The Arctic Environmental Responsibility Index : A method to rank heterogenous extractive industry companies for governance purposes". Business Strategy and the Environment. 30 (4): 1623–1643. doi:10.1002/bse.2698. hdl:11250/2833568. ISSN 0964-4733. S2CID 233618866.
  100. ^ "ExxonMobil's number of spills worldwide 2020". Statista. Retrieved December 5, 2022.
  101. ^ "ExxonMobil GHG emissions worldwide 2020". Statista. Retrieved December 5, 2022.
  102. ^ Supran, G.; Rahmstorf, S.; Oreskes, N. (January 13, 2023). "Assessing ExxonMobil's global warming projections". Science. 379 (6628): eabk0063. Bibcode:2023Sci...379.0063S. doi:10.1126/science.abk0063. ISSN 0036-8075. PMID 36634176. S2CID 255749694.
  103. ^ Milman, Oliver. "Revealed: Exxon made "breathtakingly" accurate climate predictions in 1970s and '80s". Mother Jones. Retrieved January 19, 2023.
  104. ^ Schwartz, John (May 23, 2016). "Public Campaign Against Exxon Has Roots in a 2012 Meeting". The New York Times. ISSN 0362-4331. Retrieved October 31, 2022.
  105. ^ "Exxon knew of climate change in 1981, email says – but it funded deniers for 27 more years". the Guardian. July 8, 2015. Retrieved October 31, 2022.
  106. ^ Times, Ivan Penn Ivan Penn is a former staff writer for the Los Angeles (January 20, 2016). "California to investigate whether Exxon Mobil lied about climate-change risks". Los Angeles Times. Retrieved October 31, 2022.
  107. ^ Clifford, Catherine (December 9, 2022). "Democratic lawmakers accuse big oil companies of 'greenwashing'". CNBC. Retrieved December 10, 2022.
  108. ^ Maloney, Carolyn; Khanna, Ro (December 9, 2022). MEMORANDUM – Re: Investigation of Fossil Fuel Industry Disinformation (PDF) (Report). U.S. House Oversight and Reform Committee. Archived from the original (PDF) on December 28, 2022. Retrieved December 10, 2022.
  109. ^ "The Power of Big Oil". FRONTLINE. Season 40. Episode 10–12. PBS. WGBH. Retrieved July 8, 2022.
  110. ^ "Frequently asked questions about the Exxon Valdez Oil Spill". State of Alaska's Exxon Valdez Oil Spill Trustee. Archived from the original on September 25, 2006. Retrieved March 6, 2007.
  111. ^ Leahy, Stephen (March 22, 2019). "Exxon Valdez changed the oil industry forever – but new threats emerge". National Geographic. Archived from the original on March 25, 2019. Retrieved October 25, 2019.
  112. ^ "Cuomo sues ExxonMobil over catastrophic Greenpoint oil spill". July 7, 2007. Archived from the original on February 15, 2013. Retrieved October 24, 2007.
  113. ^ "ExxonMobil Silvertip Pipeline Crude Oil Release into the Yellowstone River in Laurel, MT on 7/1/2011" (PDF). U.S. Department of Transportation. October 30, 2012. Archived from the original (PDF) on June 17, 2013.
  114. ^ "Exxon Mobil shuts Louisiana oil pipeline after leak". Reuters.com. April 30, 2012. Archived from the original on March 22, 2019. Retrieved March 22, 2019.
  115. ^ Yang, DaHyung (2018). Incremental Landscape at a Baton Rouge Oil Refinery: Temporal Framework for Phytoremediation in Louisiana Cancer Alley (Thesis). Louisiana State University Libraries. doi:10.31390/gradschool_theses.4704.
  116. ^ Pasley, James. "Inside Louisiana's horrifying 'Cancer Alley,' an 85-mile stretch of pollution and environmental racism that's now dealing with some of the highest coronavirus death rates in the country". Business Insider. Retrieved November 16, 2022.
  117. ^ Meredith, Sam (May 18, 2021). "Just 20 companies are responsible for over half of 'throwaway' plastic waste, study says". CNBC. Retrieved December 18, 2022.
  118. ^ The Plastic Waste Makers Index: Revealing the Source of the Single-Use Plastics Crisis (PDF) (Report). Minderoo Foundation. 2021. Retrieved December 18, 2022.
  119. ^ Newburger, Emma (April 28, 2022). "California subpoenas Exxon for details on role in global plastic pollution". CNBC. Retrieved December 18, 2022.
  120. ^ "Plastic Wars". FRONTLINE. Season 38. Episode 15. March 31, 2020. PBS. WGBH. Retrieved July 10, 2022.
  121. ^ Westervelt, Amy (May 11, 2022). "Exxon doubles down on 'advanced recycling' claims that yield few results". The Guardian. Retrieved December 18, 2022.
  122. ^ Coll, Steve (2012). Private empire : ExxonMobil and American power. New York: Penguin Press. ISBN 978-1-59420-335-0. OCLC 757470242.
  123. ^ "Oozing success". The Economist. August 11, 2012. Archived from the original on April 4, 2015. Retrieved March 19, 2015.
  124. ^ "Milestones: 1921–1936 – Office of the Historian". history.state.gov. Archived from the original on July 17, 2019. Retrieved July 23, 2019.
  125. ^ "Indonesia torture case vs Exxon Mobil revived". Reuters. July 8, 2011. Retrieved May 13, 2020.
  126. ^ ""Big Oil is intentionally profiteering from the war": Exxon profits double after Putin's invasion". Salon. April 29, 2022.
  127. ^ "Exxon Mobil reached record profits amid high gas prices, war in Ukraine". PBS NewsHour. January 31, 2023.
  128. ^ Franck, Thomas (June 10, 2022). "'Start investing': Biden jabs Exxon Mobil for high fuel costs in inflation speech". CNBC. Retrieved October 31, 2022.
  129. ^ Isidore, Chris (July 29, 2022). "$2,245.62 a second: ExxonMobil scores enormous profit on record gas prices | CNN Business". CNN. Retrieved October 31, 2022.

Bibliography

  • Form 10-K 2018: Exxon Mobil Corporation, Form 10-K for fiscal year ended December 31, 2018 (XBRL) (Report). U.S. SEC. February 27, 2019. Retrieved February 10, 2023.
  • Form 10-K 2022: Exxon Mobil Corporation, Form 10-K for fiscal year ended December 31, 2022 (XBRL) (Report). U.S. SEC. February 22, 2023. Retrieved March 10, 2023.
  • Form 10-K 2023: Exxon Mobil Corporation, Form 10-K for fiscal year ended December 31, 2023 (XBRL) (Report). U.S. SEC. February 28, 2024. Retrieved February 29, 2024.
  • Bender, Rob, and Tammy Cannoy-Bender. An Unauthorized Guide to: Mobil Collectibles – Chasing the Red Horse. Atglen, Pennsylvania: Schiffer Publishing Co., 1999.
  • Exxon Corp. Century of Discovery: An Exxon Album. 1982.
  • Gibb, George S., and Evelyn H. Knowlton. The Resurgent Years, 1911–1927: History of Standard Oil Co. (New Jersey). New York: Harper & Brothers Publishers, 1956.
  • Hidy, Ralph W., and Muriel E. Hidy. Pioneering in Big Business, 1882–1911: History of Standard Oil Co. (New Jersey). New York: Harper & Brothers Publishers, 1955.
  • Larson, Henrietta M., and Kenneth Wiggins Porter. History of Humble Oil & Refining Co.: A Study in Industrial Growth. New York: Harper & Brothers Publishers, 1959.
  • Larson, Henrietta M., Evelyn H. Knowlton, and Charles S. Popple. New Horizons, 1927–1950: History of Standard Oil Co. (New Jersey). New York: Harper & Row, 1971.
  • McIntyre, J. Sam. The Esso Collectibles Handbook: Memorabilia from Standard Oil of New Jersey. Atglen, Pennsylvania: Schiffer Publishing Co., 1998.
  • Sampson, Anthony. The Seven Sisters: The 100-year Battle for the World's Oil Supply. New York: Bantom Books, 1991.
  • Standard Oil Co. (New Jersey). Ships of the Esso Fleet in World War II. 1946.
  • Tarbell, Ida M. All in a Day's Work: An Autobiography.. New York: The MacMillan Co., 1939.
  • Tarbell, Ida M., and David Mark Chalmers. The History of the Standard Oil Co.. New York: Harper & Row, 1966.
  • Wall, Bennett H. Growth in a Changing Environment: A History of Standard Oil Co. (New Jersey) 1950–1972 and Exxon Corp. (1972–1975). New York: McGraw-Hill Book Co., 1988.
  • Yergin, Daniel. The Prize: The Epic Quest for Oil, Money, and Power. New York: Simon & Schuster, 1991.

Further reading

External links

Wikimedia Commons has media related to ExxonMobil.
Wikiquote has quotations related to ExxonMobil.
ExxonMobil
Petroleum industry
National Medal of Arts recipients (1980s)
More
Authority control databases
Categories