Recent from talks
ExxonMobil
Knowledge base stats:
Talk channels stats:
Members stats:
ExxonMobil
Exxon Mobil Corporation (/ˌɛksɒn ˈmoʊbəl/ EK-son MOH-bəl) is an American multinational oil and gas corporation headquartered in Spring, Texas, a suburb of Houston. Founded as the largest direct successor of John D. Rockefeller's Standard Oil, the modern company was formed in 1999, following the merger of Exxon and Mobil. It is vertically integrated across the entire oil and gas industry, as well as within its chemicals division, which produces plastic, synthetic rubber, and other chemical products. As the largest U.S.-based oil and gas company, ExxonMobil is the seventh-largest company by revenue in the U.S. and 13th-largest in the world. It is also the largest investor-owned oil company in the world. 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%).
The company has been widely criticized and sued, 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 1989 Exxon Valdez oil spill in Alaska, considered to be one of the world's worst oil spills in terms of environmental damage. The company has been the target of accusations of human rights violations, excessive influence on American foreign policy, and its impact on developing countries.
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 the three distinct brands of Esso, Enco, and Humble Oil.
In 1998, the two companies agreed to merge and form ExxonMobil, with the deal closing on November 30, 1999. 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. Following the merger, Exxon's NYSE ticker symbol was changed from "XON" to "XOM".
ExxonMobil is the largest non-government-owned company in the international energy industry and produces about 3% of the world's oil and about 2% of the world's energy.
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.
The upstream division makes up the majority of ExxonMobil's revenue, accounting for approximately 70% of it. In 2021, ExxonMobil had about 30 billion barrels of oil and oil equivalents, as well as 38.1 billion cubic feet of natural gas. 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. 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.
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. In addition, ExxonMobil plans to start exploration activities off the coast of Liberia and the Ivory Coast. In the past, ExxonMobil had exploration activities in Madagascar, however these operations were ended due to unsatisfactory results.
Hub AI
ExxonMobil AI simulator
(@ExxonMobil_simulator)
ExxonMobil
Exxon Mobil Corporation (/ˌɛksɒn ˈmoʊbəl/ EK-son MOH-bəl) is an American multinational oil and gas corporation headquartered in Spring, Texas, a suburb of Houston. Founded as the largest direct successor of John D. Rockefeller's Standard Oil, the modern company was formed in 1999, following the merger of Exxon and Mobil. It is vertically integrated across the entire oil and gas industry, as well as within its chemicals division, which produces plastic, synthetic rubber, and other chemical products. As the largest U.S.-based oil and gas company, ExxonMobil is the seventh-largest company by revenue in the U.S. and 13th-largest in the world. It is also the largest investor-owned oil company in the world. 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%).
The company has been widely criticized and sued, 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 1989 Exxon Valdez oil spill in Alaska, considered to be one of the world's worst oil spills in terms of environmental damage. The company has been the target of accusations of human rights violations, excessive influence on American foreign policy, and its impact on developing countries.
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 the three distinct brands of Esso, Enco, and Humble Oil.
In 1998, the two companies agreed to merge and form ExxonMobil, with the deal closing on November 30, 1999. 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. Following the merger, Exxon's NYSE ticker symbol was changed from "XON" to "XOM".
ExxonMobil is the largest non-government-owned company in the international energy industry and produces about 3% of the world's oil and about 2% of the world's energy.
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.
The upstream division makes up the majority of ExxonMobil's revenue, accounting for approximately 70% of it. In 2021, ExxonMobil had about 30 billion barrels of oil and oil equivalents, as well as 38.1 billion cubic feet of natural gas. 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. 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.
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. In addition, ExxonMobil plans to start exploration activities off the coast of Liberia and the Ivory Coast. In the past, ExxonMobil had exploration activities in Madagascar, however these operations were ended due to unsatisfactory results.
Recent media