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Exxon Mobil Corporation (NYSE XOM) or Exxon Mobil is an American multinational oil and gas corporation. It is a direct descendant of John D. Rockefeller's Standard Oil company, and was formed on November 30, 1999, by the merger of Exxon and Mobil. Its headquarters are in Irving, Texas. It is affiliated with Imperial Oil which operates in Canada.
Exxon Mobil is the world's largest company by revenue
and one of the largest publicly traded companies by market capitalization in
the world. The company is ranked #1 globally in Forbes Global 2000 list in
2012. Exxon Mobil's reserves were 72 billion oil-equivalent barrels at the end
of 2007 and, at then (2007) rates of production are expected to last over 14
years. With 37 oil refineries in 21 countries constituting a combined daily
refining capacity of 6.3 million barrels (1,000,000 m3), Exxon Mobil is the
largest refiner in the world, a title that was also associated with Standard
Oil since its incorporation in 1870
Exxon Mobil is the largest of the six oil super majors
with 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.
A 2012 article in The Daily Telegraph says that
Exxon Mobil has "grown into one of the planet’s most hated corporations,
able to determine American foreign policy and the fate of entire nations".
In terms of its environmental record, Exxon Mobil increasingly drills in
terrains leased to them by dictatorships, such as those in Chad and Equatorial
Guinea. Lee Raymond, the corporation’s chief executive until 2005, was
"notoriously sceptical about climate change and disliked government
interference at any level”. The company was widely criticized for its slow
response to cleaning its 1989 Valdez oil spill in Alaska.
Type Public
Traded as
NYSE XOM
Dow Jones Component
S&P 500 Component
Industry Oil and gas
Predecessor(s) Exxon
Mobil
Founded
November 30, 1999
Headquarters
Irving, Texas, United States
Area served
Worldwide
Key people
Rex W. Tillerson
(Chairman and CEO)
Products
Fuels, lubricants, petrochemicals
Revenue US$ 486.429 billion (2011)
Website
ExxonMobil.com
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