ExxonMobil Corporation, doing business 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 Company, and was formed on 1999 by the merger of Exxon (formerly the Standard Oil Company of New Jersey) and Mobil (formerly the Standard Oil Company of New York). Exxon Mobil’s primary brands are Exxon, Mobil, Esso, and ExxonMobil Chemical.
ExxonMobil is one of the largest of the world’s Big Oil companies. As of 2007, it had a daily production of 4 million barrels of oil equivalent (BOE); but significantly smaller than a number of national companies. 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.
ExxonMobil has been criticized for its slow response to cleanup efforts after the 1989 Exxon Valdez oil spill in Alaska, widely 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.
|Current version year||1999|
|Market||NYSE: XOM, S&P500|