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{{Short description|American multinational oil and gas company}}
{{Otheruses|Exon (disambiguation)}}
{{Use American English|date=October 2015}}
{{Redirect-distinguish|Exxon|Exon}}
{{Use mdy dates|date=December 2020}}
{{Infobox company {{Infobox company
|company_name = Exxon Mobil Corporation | name = Exxon Mobil Corporation
|company_logo = ] | logo = Exxon Mobil Logo.svg
| image = Cube xom mine.png
|company_type = ] ({{NYSE|XOM}})
| image_caption = Floating cube at ExxonMobil headquarters in ]
|company_slogan = "Taking on the world's toughest energy challenges", "We're drivers too", "Understanding Energy"
| former_names = {{plainlist|
|foundation = 1999 (merger)<br/>1911 (])<br/>1911 (])<br/>1870 (])
* Standard Oil Company (New Jersey) (1882<ref name="opencorporates">{{Cite web |url=https://opencorporates.com/companies/us_nj/3793794100 |access-date=2022-09-20 |title=EXXON MOBIL CORPORATION |website=opencorporates.com}}</ref>–1973)
|founder = ]<br>(])
* Exxon Corporation (1973–1999)
|location = ], ], ]
}}
|area_served = Worldwide
| type = ]
|key_people = ''']'''<br><small>(]) & (])</small><br>'''Mark W. Albers'''<br><small>(Senior ])</small><br>'''Michael J. Dolan'''<br><small>(Senior Vice President)</small><br>'''Donald D. Humphreys'''<br><small>(Senior Vice President and ])</small>
| traded_as = {{Unbulleted list
|num_employees = 79,900 - <small>March 2009</small><ref name=10k>{{cite web |url=http://idea.sec.gov/Archives/edgar/data/34088/000119312508041781/d10k.htm |title=Form 10-K |accessdate=2009-02-03 |publisher=SEC}}</ref>
| {{NYSE|XOM}}
|industry = ]
| ] component
|products = ]<br>]<br>]
| ] component
|revenue = {{loss}}]310.58 billion <small>(2009)</small><ref name=inc12>{{cite web |url=http://finance.yahoo.com/q/is?s=XOM&annual |title=Income Statement |accessdate=2009-07-29 |publisher=Yahoo}}</ref>
}}
|operating_income = {{loss}}US$34.77 billion <small>(2009)</small><ref name=inc12 />
| ISIN = {{ISIN|sl=n|pl=y|US30231G1022}}
|net_income = {{loss}}US$19.28 billion <small>(2009)</small><ref name=inc12 />
| industry = ]
|assets = {{profit}}US$233.32 billion <small>(2009)</small><ref name=inc12 />
| parent = ] (1882–1911)
|equity = {{decrease}}US$110.56 billion <small>(2009)</small><ref name=inc12 />
| predecessor = {{Unbulleted list
|market cap = ] 344.74 billion <small>(July 29, 2009)</small>
| ]
|homepage =
| ]
}}
| founded = {{Start date and age|1882|8|5}}
| founders = Lucio Noto<br/>]<ref>{{cite news |last=Myerson |first=Allen R. |date=1998 |title=The Lion and the Moose; How 2 Executives Pulled Off the Biggest Merger Ever |url=https://www.nytimes.com/1998/12/04/business/the-lion-and-the-moose-how-2-executives-pulled-off-the-biggest-merger-ever.html |work=New York Times |location= |access-date=2024-04-15}}</ref>
| hq_location = ], ], U.S.
| area_served = Worldwide
| key_people = ] (] & ])
| products = {{Unbulleted list
| ]
| ]
| ]
| ]s
| ]
}}
| revenue = {{nowrap |{{Decrease}} {{US$|344.6 billion|link=yes}} (2023){{sfn|10-K|2023}} }}
| operating_income = {{nowrap |{{Decrease}} US$52.78 billion (2023){{sfn|10-K|2023}} }}
| net_income = {{nowrap |{{Decrease}} US$36.01 billion (2023){{sfn|10-K|2023}} }}
| assets = {{nowrap |{{Increase}} US$376.3 billion (2023){{sfn|10-K|2023}} }}
| equity = {{nowrap |{{Increase}} US$204.8 billion (2023){{sfn|10-K|2023}} }}
| num_employees = 61,500 (2023){{sfn|10-K|2023}}
| subsid = {{plainlist|
* ]
* ]
* ]
* ]
* ]
* ]
}}
| brands = {{plainlist|
* ]
* ]
* ]
* ]
* ]
}}
| website = {{URL|https://corporate.exxonmobil.com}}
}} }}


'''ExxonMobil Corporation'''{{Efn|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 as '''ExxonMobil Corporation'''. Occasionally, the company is also abbreviated to '''EM''', especially with regard to the company's retail rewards program.}} ({{IPAc-en|ˌ|ɛ|k|s|ɒ|n|ˈ|m|oʊ|b|əl}} {{respell|EK|son|MOH|bəl}})<ref>{{Cite news |last=Crowley |first=Kevin |date=July 29, 2022 |title=Exxon CEO Loves What Manchin Did for Big Oil in $370 Billion Deal |language=en |agency=] |url=https://www.bloomberg.com/news/articles/2022-07-29/exxon-s-woods-calls-manchin-bill-step-in-the-right-direction |url-access=subscription |access-date=August 29, 2022}}</ref><ref>{{Cite web |last=Staff |date=August 29, 2022 |title=Exxon should not participate in upcoming auction of oil blocks&mdash;Patterson |url=https://www.stabroeknews.com/2022/08/29/news/guyana/exxon-should-not-participate-in-upcoming-auction-of-oil-blocks-patterson/ |access-date=August 29, 2022 |website=] |language=en-US}}</ref><ref>{{Cite web |last=Bloom |first=Michael |date=August 29, 2022 |title=Here are Monday's biggest analyst calls: Tesla, Amazon, Exxon, Costco, Apple & more |url=https://www.cnbc.com/2022/08/29/mondays-top-analyst-calls-tesla-amazon-costco-apple-exxon.html |access-date=August 29, 2022 |website=] |language=en}}</ref> is an American multinational ] corporation headquartered in ], a suburb of ].<ref>{{Cite web |date=June 20, 2001 |title=Certificate of incorporation and by-laws |url=https://corporate.exxonmobil.com/about-us/who-we-are/corporate-governance/certificate-of-incorporation-and-by-laws |access-date=September 19, 2022 |publisher=ExxonMobil |language=en |archive-date=March 25, 2023 |archive-url=https://web.archive.org/web/20230325022529/https://corporate.exxonmobil.com/about-us/who-we-are/corporate-governance/certificate-of-incorporation-and-by-laws |url-status=dead }}{{Self-published source|date=February 2023}}</ref>{{sfn|10-K|2018}}{{rp|1}} Founded as the ] of ]'s ], the modern company was formed in 1999 following the merger of Exxon and ]. It is ] 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 ] and ]. It is the largest investor-owned oil company in the world.<ref>{{Cite web |last=Dutta |first=Sumit |date=2018-02-06 |title=Top 10 Oil & Gas Companies: ExxonMobil |url=https://www.oilandgasiq.com/strategy-management-and-information/articles/top-oil-gas-companies-exxon-mobil |access-date=2024-06-20 |website=Oil & Gas IQ |language=en}}</ref><ref>{{Cite web |title=Global 500 |url=https://fortune.com/global500/2022/ |access-date=2022-08-04 |website=Fortune |language=en}}</ref><ref>{{Cite web |date=2019-05-14 |title=Top ten companies by oil production |url=https://www.offshore-technology.com/analysis/companies-by-oil-production/ |access-date=2022-08-04 |website=Offshore Technology |language=en-US |archive-date=June 5, 2022 |archive-url=https://web.archive.org/web/20220605042218/https://www.offshore-technology.com/analysis/companies-by-oil-production/ |url-status=dead }}</ref> Approximately 55.56% of the company's shares are held by institutions, the largest of which as of 2019 were ] (8.15%), ] (6.61%), and ] (4.83%).
The '''Exxon Mobil Corporation''', or '''ExxonMobil''', is an ] ] ] and ] corporation. It is a direct descendant of ]'s ] company,<ref>{{cite web |url=http://www.exxonmobil.com/Corporate/history/about_who_history.aspx |title=ExxonMobil, Our History |accessdate=2007-11-20 |publisher=ExxonMobil Corporation}}</ref> and was formed on November 30, 1999, by the merger of ] and ]. It has its headquarters in ].


The ] and sued, mostly for environmental incidents and ] against the scientific consensus that fossil fuels significantly contribute to ].<ref name=":3">{{Cite web |last=Copley |first=Michael |date=29 February 2024 |title=ExxonMobil is suing investors who want faster climate action |url=https://www.npr.org/2024/02/29/1234358133/exxon-climate-change-oil-fossil-fuels-shareholders-investors-lawsuit |website=NPR}}</ref> The company is responsible for many oil spills, the largest and most notable of which was the 1989 ] in ] and itself considered to be one of the ] in terms of environmental damage.<ref>{{Cite news |last=Holusha |first=John |date=April 21, 1989 |title=Exxon's Public-Relations Problem |language=en-US |work=The New York Times |url=https://www.nytimes.com/1989/04/21/business/exxon-s-public-relations-problem.html |access-date=July 9, 2020 |issn=0362-4331}}</ref><ref>{{cite web |title=11 Major Oil Spills Of The Maritime World |url=https://www.marineinsight.com/environment/11-major-oil-spills-of-the-maritime-world/ |access-date=July 9, 2020 |website=Marine Insight}}</ref> The company has been the target of accusations of human rights violations, excessive influence on ], and its impact on developing countries.<ref name="tel12">{{cite news|author=Ian Thompson|date=July 30, 2012|title=Private Empire: ExxonMobil and American Power|work=The Daily Telegraph|location=London|url=https://www.telegraph.co.uk/culture/books/bookreviews/9429215/Private-Empire-ExxonMobil-and-American-Power-by-Steve-Coll.html|url-status=live|access-date=April 3, 2018|archive-url=https://web.archive.org/web/20180211214237/http://www.telegraph.co.uk/culture/books/bookreviews/9429215/Private-Empire-ExxonMobil-and-American-Power-by-Steve-Coll.html|archive-date=February 11, 2018}}</ref>
ExxonMobil is the ] when measured by ]. Exxon Mobil's reserves were 72 billion oil-equivalent barrels at the end of 2007 and, at current rates of production, are expected to last over 14 years.<ref></ref> The company has 38 ] in 21 countries constituting a combined daily refining capacity of 6.3 million barrels.<ref>{{cite web |url=http://www.exxonmobil.com/Corporate/about_what_refining.aspx |title=Exxon Mobil - Refining and supply |accessdate=2009-01-30 |publisher=Exxon Mobil Corporation}}</ref><ref>{{cite web |url=http://www.exxonmobil.com/Corporate/about_who_profile.aspx |title=Exxon Mobil - Company profile |accessdate=2009-01-30 |publisher=Exxon Mobil Corporation}}</ref><ref>{{cite web |url=http://www.exxonmobil.com/Corporate/history/about_who_history.aspx |title=Exxon Mobil - Our history |accessdate=2009-01-30 |publisher=Exxon Mobil Corporation}}</ref>


{{Anchor|history}}
While it is the largest of the six oil ]s<ref>{{cite web |url=http://www.ft.com/cms/s/0/0b2f7b36-cda0-11db-839d-000b5df10621,dwp_uuid=0bda728c-ccd0-11db-a938-000b5df10621.html |title=FT's profile of ExxonMobil |accessdate=2008-04-21 |publisher=Financial Times}}</ref> with daily production of 3.921 million BOE (]) in 2008, this is only approximately 3% of world production and ExxonMobil's daily production is surpassed by several of the largest state-owned petroleum companies.<ref>{{cite web
|url=http://www.ft.com/cms/s/2/471ae1b8-d001-11db-94cb-000b5df10621,dwp_uuid=0bda728c-ccd0-11db-a938-000b5df10621.html
|title=The new Seven Sisters: oil and gas giants dwarf western rivals |accessdate=2008-04-21 |publisher=Financial Times}}</ref> When ranked by oil and gas reserves it is 14th in the world with less than 1% of the total.<ref>{{cite web
|url=http://www.forbes.com/forbes/2007/0416/033.html
|title=Will We Rid Ourselves of This Pollution?
|accessdate=2008-04-22
}}</ref><ref></ref>


==Organization== ==History==
{{Main|History of ExxonMobil}}
The Exxon Mobil Corporation global ] are located in ]. ExxonMobil markets products around the world under the brands of ], ], and ]. It also owns hundreds of smaller subsidiaries such as ] (69.6% ownership) in Canada, and ], a petroleum shipping company.
ExxonMobil traces its roots to ], founded in 1866. Vacuum Oil later was acquired by ] in 1879, divested from Standard in 1911 with ], and merged by the Standard Oil Company of New York (Socony), later known as ], 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 ] 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 ], ], and Humble.<ref>{{Cite web |last=for the City of Rochester |date=September 1990 |title=Detailed Historical Site Assessment of the Vacuum Oil Company's facilities and locations |url=https://www.dec.ny.gov/data/DecDocs/C828218/Application.BCP.C828218.1990-09-01.Detailed%20Historical%20Site%20Assessmwnt%20Vacuum%20Oil%20Site.pdf |access-date=May 8, 2023 |website=New York Department of Environmental Conservation}}</ref><ref name="Kumar 2019 101–109">{{Citation |last=Kumar |first=B. Rajesh |title=ExxonMobil Merger |date=2019 |work=Wealth Creation in the World's Largest Mergers and Acquisitions: Integrated Case Studies |pages=101–109 |editor-last=Kumar |editor-first=B. Rajesh |url=https://link.springer.com/chapter/10.1007/978-3-030-02363-8_9 |access-date=September 15, 2022 |series=Management for Professionals |place=Cham |publisher=Springer International Publishing |language=en |doi=10.1007/978-3-030-02363-8_9 |isbn=978-3-030-02363-8 |s2cid=239577792 |issn = 2192-8096}}{{Subscription required}}</ref>


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 ] and ]. 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.<ref name="Kumar 2019 101–109" /><ref>{{cite web |url=https://www.latimes.com/archives/la-xpm-1998-dec-02-mn-49856-story.html |title=Exxon and Mobil Agree to Biggest Merger Ever |last=Brooks |first=Nancy Rivera |date=December 2, 1998 |website=Los Angeles Times |language=en-US |access-date=April 8, 2020}}</ref><ref>{{Cite web |title=The Exxon – Mobil Merger Controversy{{!}}Business Strategy{{!}}Case Study{{!}}Case Studies |url=https://www.icmrindia.org/casestudies/catalogue/business%20strategy2/Business%20Strategy%20The%20Exxon-Mobil%20Merger%20Controversy.htm#:~:text=Many%20reasons%20lay%20behind%20the,reasons%20behind%20the%20mega%20merger. |access-date=2023-05-09 |website=www.icmrindia.org}}</ref><ref>{{Cite web |title=U.S. to Allow Mobil Deal With Exxon |url=https://www.washingtonpost.com/wp-srv/WPcap/1999-11/28/076r-112899-idx.html |access-date=2023-05-09 |website=www.washingtonpost.com}}</ref> Following the merger, Exxon's NYSE ticker symbol was changed from "XON"<ref>{{Cite web |author=Motley Fool Staff |date=1999-02-10 |title=Exxon Mobil (Drip Port) February 10, 1999 |url=https://www.fool.com/archive/dripport/1999/02/10/exxon-mobil-drip-port-february-10-1999.aspx |access-date=2022-09-20 |website=The Motley Fool |language=en}}</ref> to "XOM".
The upstream division dominates the company's cashflow, accounting for approximately 70% of revenue. The company employs over 82,000 people worldwide, as indicated in ExxonMobil's 2006 Corporate Citizen Report, with approximately 4,000 employees in its Fairfax downstream headquarters and 27,000 people in its Houston upstream headquarters.


==Operations==
===Operating divisions===
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.<ref>{{cite web|url=http://www.mrcplast.com/news-news_open-343885.html|title=Exxon Mobil eyes multi-billion dollar investment at Singapore refinery {{!}} Market Report Company – analytics, Prices, polyethylene, polypropylene, polyvinylchloride, polystyrene, Russia, Ukraine, Europe, Asia, reports|website=www.mrcplast.com|access-date=April 3, 2019|archive-url=https://web.archive.org/web/20190403025412/http://www.mrcplast.com/news-news_open-343885.html|archive-date=April 3, 2019|url-status=live}}</ref>
ExxonMobil is organized functionally into a number of global operating divisions. These divisions are grouped into three categories for reference purposes, though the company also has several ancillary divisions, such as Coal & Minerals, which are stand alone.
[[File:Guyana's_offshore_mineral_exploration_blocks,_producing_vessels,_and_proposed_projects_in_the_Stabroek_block_(May_2024)_(53736542101).png|thumb|right|300px|
ExxonMobil in Guyana crude oil drills map image offshore regions, Guyana exports around 500,000 barrels per day in offshore regions.]]
ExxonMobil is ] 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 ] and ]. ExxonMobil also has a majority ownership stake in ].<ref>{{cite web|url=http://theenergychoices.blogspot.com/2017/04/exxonmobil-exxon-energy.html|title=Energy Choices: ExxonMobil – Exxon Energy|last=TopBlog|website=Energy Choices|language=id|access-date=April 3, 2019|archive-url=https://web.archive.org/web/20190403025415/http://theenergychoices.blogspot.com/2017/04/exxonmobil-exxon-energy.html|archive-date=April 3, 2019|url-status=live}}</ref>


* ] (oil exploration, extraction, shipping, and wholesale operations)
] companies dubbed "Big Oil", sorted by latest published revenue]]
* Product Solutions (], chemical)
* ] (oil exploration, extraction, shipping, and wholesale operations) based in ]
* Low Carbon Solutions <ref>{{Cite web |title=Business divisions |url=https://corporate.exxonmobil.com:443/About-us/Business-divisions |access-date=2022-08-31 |website=ExxonMobil |language=en}}</ref>
* ] (marketing, refining, and retail operations) based in ]
* Chemical division based in ]


===Upstream===
Operating divisions by category are as follows:
The upstream division makes up the majority of ExxonMobil's revenue, accounting for approximately 70% of it.<ref>{{cite web|url=https://corporate.exxonmobil.com/en/company/annual-report/financial-operating-highlights|title=Financial operations overview and highlights {{!}} ExxonMobil|website=ExxonMobil|access-date=October 24, 2018|archive-url=https://web.archive.org/web/20181024231915/https://corporate.exxonmobil.com/en/company/annual-report/financial-operating-highlights|archive-date=October 24, 2018|url-status=live}}</ref> In 2021, ExxonMobil had about 30 billion barrels of oil and oil equivalents, as well as 38.1 billion cubic feet of ].<ref>{{Cite web |title=ExxonMobil's proved reserves by product type 2021 |url=https://www.statista.com/statistics/281187/proved-reserves-of-exxon-mobil-by-product-type/ |access-date=2022-08-31 |website=Statista |language=en}}</ref>
In the United States, ExxonMobil's petroleum exploration and production activities are concentrated in the ], ], ], ], and the ]. In addition, ExxonMobil has several gas developments in the regions of ], ], ], ], and ]. All natural gas activities are conducted by its subsidiary, XTO Energy. As of December 31, 2014, ExxonMobil owned {{convert|14.6|e6acre}} in the United States, of which {{convert|1.7|e6acre}} were offshore, {{convert|1.5|e6acre}} of which were in the Gulf of Mexico.<ref name="reuters-XOM" /> In California, it has a joint venture called ] with ]. In Canada, the company holds {{convert|5.4|e6acre}}, including {{convert|1|e6acre}} offshore and {{convert|0.7|e6acre}} of the ].<ref name="reuters-XOM" />


In Argentina, ExxonMobil holds {{convert|0.9|e6acre}} and {{convert|4.9|e6acre}} in Germany. In the Netherlands ExxonMobil owns {{convert|1.5|e6acre}}, in Norway it owns {{convert|0.4|e6acre}} offshore, and the United Kingdom {{convert|0.6|e6acre}} offshore. In Africa, upstream operations are concentrated in Angola, where it owns {{convert|0.4|e6acre}} offshore, Chad where it owns {{convert|46000|acre}}, Equatorial Guinea, where it owns {{convert|0.1|e6acre}} offshore, and Nigeria, where it owns {{convert|0.8|e6acre}} offshore.<ref name="reuters-XOM" /> In addition, ExxonMobil plans to start exploration activities off the coast of Liberia and the Ivory Coast.<ref name="reuters131115">{{cite news
* Upstream
| url = http://uk.reuters.com/article/liberia-oil-idUKL8N1376WU20151113
** ]
| title = Exxon Mobil to drill offshore post-Ebola Liberia
** ExxonMobil Exploration Company
| first = Alphonso
** ExxonMobil Development Company
| last = Toweh
** ExxonMobil Production Company
| work = Reuters
** ExxonMobil Gas and Power Marketing Company
| date = November 13, 2015
** ExxonMobil Upstream Research Company
| access-date = January 9, 2016
| archive-url = https://web.archive.org/web/20160126054019/http://uk.reuters.com/article/liberia-oil-idUKL8N1376WU20151113
| archive-date = January 26, 2016
| url-status = dead
}}</ref><ref name="reuters171214">{{cite news
| url = http://uk.reuters.com/article/ivorycoast-oil-exxon-mobil-idUKL6N0U127A20141217
| title = Ivory Coast signs deals with ExxonMobil for two oil blocks
| first = Joe
| last = Bavier
| work = Reuters
| date = December 17, 2014
| access-date = January 9, 2016
| archive-url = https://web.archive.org/web/20160126032219/http://uk.reuters.com/article/ivorycoast-oil-exxon-mobil-idUKL6N0U127A20141217
| archive-date = January 26, 2016
| url-status = dead
}}</ref> In the past, ExxonMobil had exploration activities in Madagascar, however these operations were ended due to unsatisfactory results.<ref name="reuters040715">{{cite news
| url = http://uk.reuters.com/article/madagascar-exploration-idUKL8N0ZJ2DM20150704
| title = Exxon Mobil ends oil exploration in Madagascar after poor finds -minister
| first = Lovasoa
| last = Rabary
| work = Reuters
| date = July 4, 2015
| access-date = January 9, 2016
| archive-url = https://web.archive.org/web/20160126063807/http://uk.reuters.com/article/madagascar-exploration-idUKL8N0ZJ2DM20150704
| archive-date = January 26, 2016
| url-status = dead
}}</ref>


In Asia, it holds {{convert|9000|acre}} in Azerbaijan, {{convert|1.7|e6acre}} in Indonesia, of which {{convert|1.3|e6acre}} are offshore, {{convert|0.7|e6acre}} in Iraq, {{convert|0.3|e6acre}} in Kazakhstan, {{convert|0.2|e6acre}} in Malaysia, {{convert|65000|acre}} in Qatar, {{convert|10000|acre}} in Yemen, {{convert|21000|acre}} in Thailand, and {{convert|81000|acre}} in the United Arab Emirates.<ref name="reuters-XOM" />
* Downstream
** ExxonMobil Refining and Supply Company
** ExxonMobil Fuels Marketing Company
** ExxonMobil Lubricants & Specialties Company
** ExxonMobil Research and Engineering Company


ExxonMobil exited the ] 1 oilfield in January 2024, officially ending all energy sector operations in Iraq. The share is now owned by ] and ].<ref>{{Cite web |date=2024-01-01 |title=ExxonMobil hands over operations at West Qurna 1 oilfield to PetroChina |url=https://www.reuters.com/business/energy/exxonmobil-hands-over-operations-west-qurna-1-oilfield-petrochina-2024-01-01/ |access-date=2024-11-22 |website=Reuters}}</ref><ref>{{Cite web |last=Mishra |first=Shivam |date=2024-01-02 |title=ExxonMobil transfers West Qurna 1 oilfield in Iraq to PetroChina |url=https://www.offshore-technology.com/news/exxonmobil-west-qurna-1-oilfield/ |access-date=2024-11-22 |website=Offshore Technology |language=en-US}}</ref>
* Chemical
** ExxonMobil Chemical Company


In March 2024, ExxonMobil discovered oil at the Stabroek block off the coast of ] using a drillship. By the end of 2027, it plans to have 6 ] at the block.<ref>{{Cite web |last=Čavčić |first=Melisa |date=2024-03-20 |title=ExxonMobil strikes oil offshore Guyana with Stena drillship |url=https://www.offshore-energy.biz/exxonmobil-strikes-oil-offshore-guyana-with-stena-drillship/ |access-date=2024-11-22 |website=Offshore Energy |language=en-US}}</ref> Oil was discovered off the coast of Angola in May 2024 in a well drilled from February to April in the ] development area.<ref>{{Cite web |last=Čavčić |first=Melisa |date=2024-05-15 |title=ExxonMobil hits oil offshore Angola and takes steps to search for more hydrocarbons |url=https://www.offshore-energy.biz/exxonmobil-hits-oil-offshore-angola-and-takes-steps-to-search-for-more-hydrocarbons/ |access-date=2024-11-22 |website=Offshore Energy |language=en-US}}</ref>
* ExxonMobil Global Services Company
** ExxonMobil Information Technology
** Global Real Estate and Facilities
** Global Procurement
** Business Support Centers


====Russia operations====
==History==
Until the ], ExxonMobil held {{convert|85000|acre}} in the ] project through its subsidiary ]. Together with ], it has developed {{convert|63.6|e6acre}} in Russia, including the ]. 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.<ref>{{Cite news |date=2022-08-30 |title=Exxon escalates dispute with Russia over barred exit from oil project – WSJ |url=https://www.reuters.com/business/energy/exxon-escalates-dispute-with-russia-over-barred-exit-oil-project-wsj-2022-08-30/ |access-date=2022-08-31 |work=Reuters |language=en}}</ref>
], ExxonMobil offices in ]]]
Exxon Mobil Corporation was formed in 1999 by the merger of two major oil companies, Exxon and Mobil. Both Exxon and Mobil were descendants of the ] corporation, ] which was established in 1870. The reputation of Standard Oil in the public eye suffered badly after publication of ]'s classic exposé '']'' in 1904, leading to a growing outcry for the government to take action against the company.


==== Australia operations ====
By 1911, with ] at a climax, the ] ruled that Standard Oil must be dissolved and split into 34 companies. Two of these companies were ] ("Standard ] of New Jersey"), which eventually became Exxon, and ] ("Standard Oil Company of New York"), which eventually became Mobil.
In Australia, ExxonMobil held {{convert|1.7|e6acre}}, including {{convert|1.6|e6acre}} offshore. It also operates the Longford Gas Conditioning Plant, and participates in the development of ] project.


==== Papua New Guinea operations ====
In the same year, the nation's ] output was eclipsed for the first time by ]. The growing ] market inspired the product ] Mobiloil, registered by Socony in 1920.
In Papua New Guinea, it holds {{convert|1.1|e6acre}}, including the ] project.<ref name="reuters-XOM">{{cite web
| url = http://uk.reuters.com/business/quotes/companyProfile?symbol=XOM
| title = Exxon Mobil Corp (XOM)
| publisher = Reuters
| access-date = January 9, 2016
| archive-url = https://web.archive.org/web/20160109185241/http://uk.reuters.com/business/quotes/companyProfile?symbol=XOM
| archive-date = January 9, 2016
| url-status = dead
}}</ref>


=== Product Solutions ===
Over the next few decades, both companies grew significantly. Jersey Standard, led by ], became the largest oil producer in the world. It acquired a 50 percent share in ], a ] oil producer. Socony purchased a 45 percent interest in ], a major refiner, marketer and pipeline transporter. In 1931, Socony merged with ], an industry pioneer dating back to 1866 and a growing Standard Oil spin-off in its own right.
]]]
ExxonMobil formed its Product Solutions division in 2022, combining its previously separate Downstream and Chemical divisions into a single company.<ref name=":4">{{Cite news |last=Valle |first=Sabrina |date=2022-02-01 |title=Exxon unveils sweeping restructuring in latest cost cutting move |language=en |work=Reuters |url=https://www.reuters.com/business/energy/exxon-unveils-sweeping-restructuring-latest-cost-cutting-move-2022-01-31/ |access-date=2022-08-31}}</ref>


On Oct. 1 2024, Nigeria approved the $1.28 billion sale of Exxon Mobil's onshore assets to Seplat Energy, more than two years after the deal was first agreed upon in February 2022<ref>{{Cite web |date=October 21, 2024 |title=Nigeria approves Exxon-Seplat deal after more than two years |url=https://www.reuters.com/business/energy/nigeria-approves-exxon-seplat-128-billion-deal-oil-regulator-says-2024-10-21/}}</ref>
In the ] region, Jersey Standard had oil production and refineries in ] but no marketing network. Socony-Vacuum had Asian marketing outlets supplied remotely from California. In 1933, Jersey Standard and Socony-Vacuum merged their interests in the region into a 50-50 joint venture. Standard-Vacuum Oil Co., or "Stanvac," operated in 50 countries, from ] to ], before it was dissolved in 1962.


==== Downstream and Retail ====
Mobil ] was established in 1950. As of 1999, its principal products included basic ]s and ]s, ] and ]. The company produced synthetic lubricant base stocks as well as lubricant additives, ] packaging films and ]. Exxon Chemical Company (first named Enjay Chemicals) became a worldwide organization in 1965 and in 1999 was a major producer and marketer of olefins, aromatics, polyethylene and ] along with speciality lines such as ]s, ]s, ]s, process fluids, ]s and ] ]s. The company was an industry leader in ] technology to make unique polymers with improved performance.
ExxonMobil markets products around the world under the brands of ], Mobil, and Esso. Mobil is ExxonMobil's primary retail gasoline brand in California, ], ], ], ], and the ]. 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 ] and ahead of ], lacking a presence only in ], ], ], and ].<ref>{{cite AV media|url=https://www.scrapehero.com/store/wp-content/uploads/maps/Exxon_Mobil_USA.png|title=Exxon Mobil gas station locations in the USA|website=Scrape Hero|format=PNG|archive-url=https://web.archive.org/web/20211119183359/https://www.scrapehero.com/store/wp-content/uploads/maps/Exxon_Mobil_USA.png|archive-date=November 19, 2021}}</ref>


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.<ref>{{Cite web |title=Our global brands |url=https://corporate.exxonmobil.com:443/About-us/Brands |access-date=2022-08-31 |website=ExxonMobil |language=en}}</ref>
In 1955, Socony-Vacuum became Socony Mobil Oil Co. and in 1966 simply Mobil Oil Corp. A decade later, the newly incorporated Mobil Corporation absorbed Mobil Oil as a ]. Jersey Standard changed its name to Exxon Corporation in 1972 and established Exxon as a trademark throughout the ]. In other parts of the world, Exxon and its affiliated companies continued to use its Esso trademark.


In Japan, ExxonMobil had a 22% stake in TonenGeneral Sekiyu K.K., a refining company that merged into ] in 2017.<ref>{{cite web |url=https://www.bloomberg.com/news/articles/2012-01-04/tonengeneral-slumps-most-in-9-years-after-report-of-exxon-sale |title=Exxon in Talks to Restructure Stake in Japan Refining Unit |website=] |date=January 5, 2012 |access-date=March 6, 2017 |archive-url=https://web.archive.org/web/20160124205721/http://www.bloomberg.com/news/articles/2012-01-04/tonengeneral-slumps-most-in-9-years-after-report-of-exxon-sale |archive-date=January 24, 2016 |url-status=live }}</ref><ref>{{cite news |url=https://www.bloomberg.com/news/articles/2012-01-04/tonengeneral-slumps-most-in-9-years-after-report-of-exxon-sale |title=TonenGeneral to Buy Exxon Japan Refining, Marketing Unit for $3.9 Billion |access-date=January 30, 2012 |work=Bloomberg |first1=Yuji |last1=Okada |first2=Jacob |last2=Adelman |date=January 30, 2012 |archive-url=https://web.archive.org/web/20160124205721/http://www.bloomberg.com/news/articles/2012-01-04/tonengeneral-slumps-most-in-9-years-after-report-of-exxon-sale |archive-date=January 24, 2016 |url-status=live }}</ref>
On March 24, 1989, the ] ] struck ] in ], ] and spilled more than 11 million gallons (42,000 m³) of crude oil. The ] was the second largest in U.S. history, and in the aftermath of the Exxon Valdez incident, the ] passed the ]. An initial award of $5 billion ] ] was reduced to $507.5 million by the US Supreme Court in June 2008, and distributions of this award have commenced.


ExxonMobil's primary retail brands worldwide are Exxon, ], ], 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 ], ExxonMobil Rewards+, where customers earn rewards points when filling up at its stations in the United States and later the United Kingdom.<ref>{{Cite web |title=ExxonMobil launches new Exxon Mobil rewards loyalty program |url=https://corporate.exxonmobil.com:443/news/newsroom/news-releases/2018/0711_exxonmobil-launches-new-exxon-mobil-rewards-loyalty-program |access-date=2022-10-05 |website=ExxonMobil |language=en}}</ref><ref>{{Cite web |last=Paul |first=Trina |title=These 5 gas rewards programs that can save you money at the pump |url=https://www.cnbc.com/select/gas-rewards-programs-that-can-save-you-money/ |access-date=2022-10-05 |website=CNBC |language=en}}</ref><ref>{{Cite web |title=Esso and Nectar to launch new loyalty partnership {{!}} ExxonMobil United Kingdom |url=https://www.exxonmobil.co.uk:443/news/newsroom/uk-news-releases/2018/1116_esso-and-nectar-to-launch-new-loyalty-partnership |access-date=2022-10-05 |website=ExxonMobil |language=en}}</ref>
In 1998, Exxon and Mobil signed a US$73.7 billion definitive agreement to merge and form a new company called Exxon Mobil Corporation, the largest company on the planet. After ] and regulatory approvals, the merger was completed on November 30, 1999. The merger of Exxon and Mobil was unique in ] because it reunited the two largest companies of ]'s ] trust, Standard Oil Company of New Jersey/Exxon and Standard Oil Company of New York/Mobil, which had been forcibly separated by government order nearly a century earlier. This reunion resulted in the largest merger in US corporate history.


==== Chemicals ====
In 2000, ExxonMobil sold a refinery in ] and 340 Exxon-branded stations to ], as part of an ]-mandated divestiture of California assets. ExxonMobil continues to supply ]s to over 700 Mobil-branded retail outlets in California.
]
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 ]s and ]s, ], ], and ] along with speciality lines such as ]s, ]s, ]s, process fluids, ]s and ] ]s. The company also produces synthetic lubricant base stocks as well as lubricant additives, ] packaging films and ]. ExxonMobil is the largest producer of butyl rubber.<ref>{{cite web|title=ExxonMobil chemicals: petrochemicals since 1886|url=http://exxonmobil.com/Benelux-English/about_who_history_chemical.aspx|publisher=ExxonMobil.com|access-date=January 14, 2016|archive-url=https://web.archive.org/web/20160124205722/http://exxonmobil.com/Benelux-English/about_who_history_chemical.aspx|archive-date=January 24, 2016|url-status=live}}</ref> Infineum, a joint venture with Shell plc, is manufacturing and marketing ] lubricant additives, ]s, and specialty lubricant additives, as well as ]s, ]s, and industrial oils.<ref>{{cite web|url=http://www.infineum.com|title=Infineum|access-date=September 23, 2015|archive-url=https://web.archive.org/web/20150925065945/http://www.infineum.com/|archive-date=September 25, 2015|url-status=live}}</ref>


==== Sponsorships ====
In 2005, ExxonMobil's ] surged in parallel with rising ], surpassing ] as the largest corporation in the world in terms of ]. At the end of 2005, it reported record profits of US $36 billion in annual income, up 42% from the previous year (the overall annual income was an all-time record for annual income by any business, and included $10 billion in the third quarter alone, also an all-time record income for a single quarter by any business). The company and the ] (the oil and chemical industry's lobbying organization) put these profits in context by comparing oil industry profits to those of other large industries such as pharmaceuticals and banking.<ref>http://www.nytimes.com/2006/01/31/business/31exxon.html?_r=2&oref=slogin&oref=slogin</ref><ref>http://news.bbc.co.uk/2/hi/business/4662474.stm</ref>
{{Main|Mobil 1}}
], a brand of synthetic motor oil, is a major sponsor of multiple racing teams and as the official motor oil of ] since 2003.<ref>{{Cite web |title=NASCAR engines use Mobil 1 |url=https://www.mobil.com/en/lubricants/about-us/mobil-1/who-depends-on-mobil-1-motor-oil/nascar-engines-use-mobil-1 |access-date=2024-10-10 |website=Mobil}}</ref> ExxonMobil is currently in partnerships with ] in ] and Kalitta Motorsports.<ref>{{Cite web |title=Formula One – The Mobil 1/Red Bull Racing partnership |url=https://www.mobil.com/en/lubricants/about-us/mobil-1/mobil-1-racing-and-motorsports/grand-prix-racing/ |access-date=2024-10-10 |website=Mobil}}</ref><ref>{{Cite web |date=2019-12-12 |title=Mobil 1 Returns to NHRA Racing With Multi-Year Sponsorship of Toyota Racing Development and Kalitta Motorsports |url=https://www.businesswire.com/news/home/20191212005830/en/Mobil-1%E2%84%A2-Returns-to-NHRA-Racing-With-Multi-Year-Sponsorship-of-Toyota-Racing-Development-and-Kalitta-Motorsports |access-date=2024-10-10 |website=]}}</ref><ref>{{Cite news |last=Sam |date=2011-02-14 |title=McLaren extends Mobil 1 partnership |url=https://www.racecar-engineering.com/news/industry/mclaren-extend-mobil-1-partnership/ |access-date=2024-10-10 |website=Racecar Engineering}}</ref>


==== Refineries ====
On June 12, 2008, ExxonMobil announced that it was exiting the retail fuel business, citing the increasing difficulty to run ] under rising ] costs. The multi-year process will gradually phase the ] out of the direct market, and will affect 820 company-owned stations and approximately 1,400 other stations operated by ] distributing across the ]. The sale will not result in the disappearance of ] and ] branded stations; the new owners will continue to sell ExxonMobil ] and license the appropriate names from ExxonMobil, who will in turn be compensated for use of the brand.<ref> {{Dead link|date=July 2008}}</ref>
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 ] and its second largest in the United States is its ], located in ]. Its second largest refinery overall is its ] facility in ]. 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.<ref>{{Cite web |title=A look inside Downstream |url=https://corporate.exxonmobil.com/About-us/Business-divisions/Downstream/A-look-inside-Downstream |access-date=2022-08-31 |website=ExxonMobil |language=en |archive-date=August 31, 2022 |archive-url=https://web.archive.org/web/20220831072353/https://corporate.exxonmobil.com/About-us/Business-divisions/Downstream/A-look-inside-Downstream |url-status=dead }}</ref><ref>{{Cite web |title=ExxonMobil refining capacity by region 2021 |url=https://www.statista.com/statistics/281188/refining-capacity-of-exxon-mobil-by-region/ |access-date=2022-08-31 |website=Statista |language=en}}</ref><ref>{{Cite web |date=2022-01-04 |title=4 of Nation's 10 Largest Oil Refineries Located Along Texas Gulf Coast |url=https://www.zehllaw.com/4-of-10-largest-us-oil-chemical-refineries-located-in-houston-beaumont-port-arthur/ |access-date=2022-09-02 |website=Zehl & Associates |language=en-US}}</ref><ref>{{Cite web |last=admin |title=World's Largest Refineries {{!}} Oilandgasclub.com |url=https://www.oilandgasclub.com/worlds-largest-refineries/ |access-date=2022-09-02 |language=en-US}}</ref>


ExxonMobil was one of few U.S. refiners to expand capacity by a significant margin following an industry downturn suffered during the ] pandemic.<ref>{{Cite web |date=2022-05-26 |title=US refiners invest sparingly in new capacity {{!}} Argus Media |url=https://www.argusmedia.com/en//news/2335445-us-refiners-invest-sparingly-in-new-capacity |access-date=2023-11-01 |website=www.argusmedia.com |language=en}}</ref> The company completed a 250,000 barrels per day expansion at its ], Texas, refinery in early 2023.<ref>{{Cite web |title=ExxonMobil boosts fuel supply with $2 billion Beaumont refinery expansion |url=https://corporate.exxonmobil.com/news/news-releases/2023/0316_exxonmobil-boosts-fuel-supply-with-2-billion-dollar-beaumont-refinery-expansion |access-date=2023-11-01 |website=ExxonMobil |language=en}}</ref>
==Corporate affairs==
The current Chairman of the Board and CEO of Exxon Mobil Corporation is ]. Tillerson assumed the top position on January 1, 2006, on the retirement of long-time chairman and CEO, ], who received a retirement and ] of approximately $400 million ], .


{{Anchor|low carbon}}
====Board of directors====
{{As of|2009|02|05|df=US}}, the current Exxon Mobil ] members are:<ref name=BoardofDirector>{{cite web|url=http://www.exxonmobil.com/corporate/investor_governance_directors.aspx
|title=Exxon Mobil Corporation Board of Directors
|publisher=Exxon Mobil Corporation}}</ref>
*], professor of economics ], director of ], ], and ]
*], President, Houston Endowment; President Emeritus, the ]
*], professor of management practice, ]
*], Chairman of the Board, ]
*Reatha Clark King, former chairman, ], ] Foundation
*Philip E. Lippincott, retired Chairman of the Board, ] and ]
*Marilyn Carlson Nelson, Chairman and CEO, ]
*], Chairman of the Board, President and CEO, ]
*Steven S Reinemund, retired Executive Chairman of the Board, ]
*Walter V. Shipley, retired Chairman of the Board, ] Corporation
*], Chairman of the Board and ], ]
*Edward E. Whitacre, retired Chairman of the Board and Chief Executive Officer, ]


===Low Carbon Solutions===
==Joint ventures and other strategic alliances==
Officially formed with ExxonMobil's 2022 corporate restructuring, and currently led by former ] president ], 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 ], ] made from agricultural waste, carbonate ]s, and refining crude oil into plastic by using a ] and ] instead of heat.<ref name="bloomberg031117">{{cite news | url=https://www.bloomberg.com/news/articles/2017-11-03/exxon-is-spending-1-billion-a-year-to-research-green-energy | title=Exxon Quietly Researching Hundreds of Green Projects | access-date=March 18, 2018 | work=Bloomberg | first1=Anna | last1=Hirtenstein | date=November 3, 2017 | archive-url=https://web.archive.org/web/20180318173236/https://www.bloomberg.com/news/articles/2017-11-03/exxon-is-spending-1-billion-a-year-to-research-green-energy | archive-date=March 18, 2018 | url-status=live }}</ref><ref>{{Cite web |date=2022-02-02 |title=ExxonMobil restructuring with low-carbon solutions at forefront |url=https://www.environmentalleader.com/2022/02/exxonmobil-announces-restructuring-emphasizes-low-carbon-solutions/ |access-date=2022-08-31 |website=Environment + Energy Leader |language=en-US}}</ref> 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.<ref>{{Cite news |last=Jacobs |first=Justin |date=2023-04-04 |title=ExxonMobil says low-carbon business could one day eclipse oil and gas |work=Financial Times |url=https://www.ft.com/content/8cb77179-cad4-437c-a20f-c8d273131284 |access-date=2023-09-21}}</ref>
*] is an E&P ] with ], operating in ].
*] is a joint venture between ExxonMobil and Royal Dutch/Shell for manufacturing and marketing lubricant and fuel additives.


{{As of|2023}}, the company was in the process of designing its inaugural large-scale plant dedicated to producing low-carbon hydrogen, situated within its refining and petrochemical complex in ]. This project is set to become the world's largest low-carbon hydrogen project.<ref>{{Cite web |date=2023-08-14 |title=ExxonMobil's low-carbon hydrogen plant to be world's biggest |url=https://energydigital.com/articles/exxonmobils-low-carbon-hydrogen-plant-to-be-worlds-biggest |access-date=2023-08-14 |website=energydigital.com |language=en}}</ref><ref>{{Cite web |last=West |first=Terence |date=2023-08-14 |title=The Largest Low-Carbon Hydrogen Project in the World |url=https://www.energyportal.eu/news/exxonmobils-low-carbon-hydrogen-plant-to-be-worlds-biggest/158614/ |access-date=2023-08-14 |website=EnergyPortal.eu |language=en-US}}</ref>
==Production==
ExxonMobil is the largest non-government owned company in the energy industry and produces about 3 percent of the world's oil and about 2 percent of the world's energy.<ref></ref>


==Revenue and profits== ==== 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 ] (CCS). The company additionally plans that its ] emissions will be ] 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.<ref>{{Cite web |date=2022-01-12 |title=ExxonMobil Acquires Large Stake in Biofuel Company Biojet AS |url=https://www.environmentalleader.com/2022/01/exxonmobil-expands-interest-in-biofuels-acquires-large-stake-in-biojet-as/ |access-date=2022-08-31 |website=Environment + Energy Leader |language=en-US}}</ref><ref>{{Cite web |title=Why we're investing $15 billion in a lower-carbon future |url=https://corporate.exxonmobil.com:443/News/Newsroom/News-releases/2021/1109_Why-we-are-investing-15-billion-in-a-lower-carbon-future |access-date=2022-08-31 |website=ExxonMobil |language=en}}</ref> In July 2023, Exxon agreed to acquire ] for $4.9 billion to further its low-carbon efforts.<ref>{{cite news |date=July 13, 2023 |title=Exxon Mobil buys Denbury, pipeline company with carbon capture expertise, for $5 billion |publisher=Associated Press |url=https://apnews.com/article/exxon-mobil-denbury-carbon-capture-acquisition-e88462a294693e4139b24d6030ac3c2d}}</ref> In July 2024, ExxonMobil and ] signed a CCS agreement that will allow ExxonMobil to transport and permanently store 500,000 tonnes of CO2 per year starting in 2028.<ref>{{Cite web |last=Mishra |first=Shivam |date=2024-07-26 |title=ExxonMobil signs CO2 capture and storage deal with CF Industries |url=https://www.offshore-technology.com/news/exxonmobil-cf-industries-ccs-deal/ |access-date=2024-11-22 |website=Offshore Technology |language=en-US}}</ref>
{{Update|date=February 2010}}
In 2005, ExxonMobil surpassed ] as the world's largest ] when measured by revenue, although Wal-Mart remained the largest by number of employees.<ref name=2006dethrone>{{cite news|accessdate=2007-05-09
|url=http://www.msnbc.msn.com/id/12131795/
|title=Exxon dethrones Wal-Mart atop Fortune 500
|author=Associated Press
|publisher=MSNBC
|date=April 3, 2006}}</ref> ExxonMobil's $340 billion revenues in 2005 were a 25.5 percent increase over their 2004 revenues.


==== Low-carbon energy projects ====
In 2006, Wal-Mart recaptured the lead with revenues of $348.7 billion against ExxonMobil's $335.1. ExxonMobil continued to lead the world in both profits ($39.5 billion in 2006) and market value ($460.43 billion).<ref name=2006WalMart>{{cite news|accessdate=2007-05-09
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, ]s,
|url=http://www.msnbc.msn.com/id/18140057/
and new ways to manufacture plastic that produce less carbon dioxide.<ref>{{Cite news|language=en|url=https://www.bloomberg.com/news/articles/2017-11-03/exxon-is-spending-1-billion-a-year-to-research-green-energy|title=Exxon Quietly Researching Hundreds of Green Projects|website=Bloomberg|date=November 3, 2017 |access-date=2024-01-29}}</ref>
|title=Wal-Mart returns to top of the Fortune 500 list
|author=Associated Press
|date=April 16, 2007
|publisher=MSNBC}}</ref>


==== Lithium mining ====
In 2007, ExxonMobil had a record net income of $40.61 billion on $404.552 of revenue, an increase largely due to escalating oil prices as their actual oil equivalent production decreased by 1%, in part due to expropriation of their ]n assets by the ] government.<ref> ExxonMobil 2007 results.</ref>
In November 2023 ExxonMobil started drilling for lithium in the US State of ]. In June 2024, a preliminary agreement to supply lithium to ] for the manufacture of ] that will power ]s was signed.
<ref>{{Cite news |title=Why big oil is wading into lithium |url=https://www.economist.com/business/2024/06/27/why-big-oil-is-wading-into-lithium |access-date=2024-06-30 |newspaper=The Economist |issn=0013-0613}}</ref>


== Controversies ==
As of April 1, 2008, ExxonMobil occupied all 10 slots for Top Corporate Quarterly Earnings of all Time.<ref>http://news.yahoo.com/s/ap/20080731/ap_on_bi_ge/earns_oil_glance Top corporate quarterly earnings of all time</ref><ref>http://www.washingtontimes.com/news/2008/jul/31/top-corporate-quarterly-earnings-of-all-time/ Top corporate quarterly earnings of all time</ref>
{{Main|Criticism of ExxonMobil}}
] protestors demonstrating against ExxonMobil]]


=== Climate change denial ===
{| class="wikitable" border="3"
{{Further|ExxonMobil climate change denial}}
|+ '''Top Ten Corporate Quarterly Earnings of all Time'''<ref></ref>
! Place
! Company
! Year
! Quarter
! Dollars (USD)
|-----
| 1
| Exxon Mobil Corp
| 2008
| 2
| $11.68 billion
|-----
| 2
| Exxon Mobil Corp
| 2007
| 4
| $11.66 billion
|-----
| 3
| Exxon Mobil Corp
| 2008
| 1
| $10.89 billion
|-----
| 4
| Exxon Mobil Corp
| 2005
| 4
| $10.71 billion
|-----
| 5
| Exxon Mobil Corp
| 2006
| 3
| $10.49 billion
|-----
| 6
| Exxon Mobil Corp
| 2006
| 2
| $10.36 billion
|-----
| 7
| Exxon Mobil Corp
| 2007
| 2
| $10.26 billion
|-----
| 8
| Exxon Mobil Corp
| 2006
| 4
| $10.25 billion
|-----
| 9
| Exxon Mobil Corp
| 2005
| 3
| $9.92 billion
|-----
| 10
| Exxon Mobil Corp
| 2007
| 3
| $9.41 billion
|}


ExxonMobil's environmental record ] for its stance<ref>{{Cite web |date=January 25, 2022 |title=Irving-based ExxonMobil pledges to go net-zero by 2050 |url=https://www.axios.com/local/dallas/2022/01/25/exxonmobil-pledges-net-zero-2050}}</ref> and impact on global warming.<ref>{{cite web |title=Big US Pension Fund Joins Critics Of ExxonMobil Climate Stance |url=http://www.energy-daily.com/reports/Big_US_Pension_Fund_Joins_Critics_Of_ExxonMobil_Climate_Stance_999.html |url-status=live |archive-url=https://web.archive.org/web/20110726105227/http://www.energy-daily.com/reports/Big_US_Pension_Fund_Joins_Critics_Of_ExxonMobil_Climate_Stance_999.html |archive-date=July 26, 2011 |access-date=July 11, 2011 |publisher=Energy-daily.com}}</ref> In 2018, the ] ranks ExxonMobil tenth among American corporations emitting ],<ref name="toxicindex-air">{{cite web |date=October 26, 2016 |title=Toxic 100 Air Polluters Index (2018 Report, Based on 2015 Data) |url=https://www.peri.umass.edu/toxic-100-air-polluters-index-2018-report-based-on-2015-data |url-status=live |archive-url=https://web.archive.org/web/20181220230550/https://www.peri.umass.edu/toxic-100-air-polluters-index-2018-report-based-on-2015-data |archive-date=December 20, 2018 |access-date=December 20, 2018 |publisher=]}}</ref> thirteenth by emitting ].<ref name="toxicindex-ghg">{{cite web |date=April 21, 2015 |title=Greenhouse 100 Polluters Index (2018 Report, Based on 2015 Data) |url=https://www.peri.umass.edu/greenhouse-100-polluters-index-2018-report-based-on-2015-data |url-status=live |archive-url=https://web.archive.org/web/20181220230900/https://www.peri.umass.edu/greenhouse-100-polluters-index-2018-report-based-on-2015-data |archive-date=December 20, 2018 |access-date=December 20, 2018 |publisher=]}}</ref> A 2017 report places ExxonMobil as the fifth largest contributor to greenhouse gas emissions from 1988 to 2015.<ref>{{Cite news |last=Riley |first=Tess |date=July 10, 2017 |title=Just 100 companies responsible for 71% of global emissions, study says |url=https://www.theguardian.com/sustainable-business/2017/jul/10/100-fossil-fuel-companies-investors-responsible-71-global-emissions-cdp-study-climate-change |access-date=May 6, 2020 |work=The Guardian |language=en-GB |issn=0261-3077}}</ref><ref>{{cite web |title=New report shows just 100 companies are source of over 70% of emissions – CDP |url=https://www.cdp.net/en/articles/media/new-report-shows-just-100-companies-are-source-of-over-70-of-emissions |access-date=May 6, 2020 |website=www.cdp.net}}</ref> {{As of|2005}}, ExxonMobil had committed less than 1% of their profits towards researching alternative energy,<ref>{{cite news |last=Mufson |first=Steven |date=April 2, 2008 |title=Familiar Back and Forth With Oil Executives |url=https://www.washingtonpost.com/wp-dyn/content/article/2008/04/01/AR2008040100157.html?hpid=topnews |url-status=live |archive-url=https://web.archive.org/web/20121111113323/http://www.washingtonpost.com/wp-dyn/content/article/2008/04/01/AR2008040100157.html?hpid=topnews |archive-date=November 11, 2012 |access-date=July 11, 2011 |newspaper=The Washington Post}}</ref> which, according to the ] ], is less than other leading oil companies.<ref>{{cite web |title=ERES: ExxonMobil Shareholders Relying on Fumes |url=http://www.heatisonline.org/contentserver/objecthandlers/index.cfm?ID=5946&Method=Full&PageCall=&Title=CERES%3A%20ExxonMobil%20Shareholders%20Relying%20on%20Fumes |url-status=live |archive-url=https://web.archive.org/web/20110721015844/http://www.heatisonline.org/contentserver/objecthandlers/index.cfm?ID=5946&Method=Full&PageCall=&Title=CERES:%20ExxonMobil%20Shareholders%20Relying%20on%20Fumes |archive-date=July 21, 2011 |access-date=July 11, 2011 |publisher=Heatisonline.org}}</ref>{{update inline|date=December 2018}} 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.<ref>{{Cite journal |last1=Overland |first1=Indra |last2=Bourmistrov |first2=Anatoli |last3=Dale |first3=Brigt |last4=Irlbacher-Fox |first4=Stephanie |last5=Juraev |first5=Javlon |last6=Podgaiskii |first6=Eduard |last7=Stammler |first7=Florian |last8=Tsani |first8=Stella |last9=Vakulchuk |first9=Roman |last10=Wilson |first10=Emma C. |date=May 2021 |title=The Arctic Environmental Responsibility Index : A method to rank heterogenous extractive industry companies for governance purposes |url=https://onlinelibrary.wiley.com/doi/10.1002/bse.2698 |journal=Business Strategy and the Environment |language=en |volume=30 |issue=4 |pages=1623–1643 |doi=10.1002/bse.2698 |issn=0964-4733 |s2cid=233618866 |hdl-access=free |hdl=11250/2833568}}</ref> 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.<ref>{{Cite web |title=ExxonMobil's number of spills worldwide 2020 |url=https://www.statista.com/statistics/531336/number-of-oil-chemical-and-drilling-fluid-spilled-by-exxon-mobil/ |access-date=2022-12-05 |website=Statista |language=en}}</ref> Additionally, since 1965, ExxonMobil has released more than 40 billion tons of ].<ref>{{Cite web |title=ExxonMobil GHG emissions worldwide 2020 |url=https://www.statista.com/statistics/531354/greenhouse-gas-emissions-from-exxon-mobil-worldwide/ |access-date=2022-12-05 |website=Statista |language=en}}</ref>
==Financial data==
{| class="wikitable" border="3"
|+ '''Financial Data USD millions'''<ref></ref>
! Year-end
! 2002
! 2003
! 2004
! 2005
! 2006
|-----
| Total revenue
| 204 506
| 237 054
| 291 252
| 358 955
| 377 635
|-----
| ]
| 26 038
| 41 220
| 51 646
| 70 181
| 79 869
|-----
| Net income
| 11 460
| 21 510
| 25 330
| 36 130
| 39 500
|-----
| Total debt
| 10 748
| 9 545
| 8 293
| 7 991
| 6 645
|}


In 2023, '']'' 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."<ref>{{Cite journal |last1=Supran |first1=G. |last2=Rahmstorf |first2=S. |last3=Oreskes |first3=N. |date=2023-01-13 |title=Assessing ExxonMobil's global warming projections |journal=Science |language=en |volume=379 |issue=6628 |pages=eabk0063 |bibcode=2023Sci...379.0063S |doi=10.1126/science.abk0063 |issn=0036-8075 |pmid=36634176 |s2cid=255749694 |doi-access=free}}</ref><ref>{{Cite web |last=Milman |first=Oliver |title=Revealed: Exxon made "breathtakingly" accurate climate predictions in 1970s and '80s |url=https://www.motherjones.com/environment/2023/01/revealed-exxon-made-breathtakingly-accurate-climate-predictions-in-1970s-and-80s/ |access-date=2023-01-19 |website=Mother Jones |language=en-US}}</ref>
==Environmental record==
While it has been a contributor to environmental causes (the company donated $6.6 million to environmental and social groups in 2007)<ref> </ref>, ExxonMobil's environmental record has been a target of critics from outside organizations such as ] as well as some institutional investors who disagree with its stance on global warming.<ref></ref> The Political Economy Research Institute ranks ExxonMobil sixth among corporations emitting airborne pollutants in the United States. The ranking is based on the quantity (15.5 million pounds in 2005) and toxicity of the emissions.<ref></ref> In 2005, ExxonMobil had committed less than 1% of their profits towards researching alternative energy,<ref></ref> less than other leading oil companies.<ref></ref>


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.<ref>{{Cite news |last=Schwartz |first=John |date=2016-05-23 |title=Public Campaign Against Exxon Has Roots in a 2012 Meeting |url=https://www.nytimes.com/2016/05/24/science/public-campaign-against-exxon-has-roots-in-a-2012-meeting.html |access-date=2022-10-31 |work=The New York Times |language=en-US |issn=0362-4331}}</ref><ref>{{Cite web |date=2015-07-08 |title=Exxon knew of climate change in 1981, email says – but it funded deniers for 27 more years |url=http://www.theguardian.com/environment/2015/jul/08/exxon-climate-change-1981-climate-denier-funding |access-date=2022-10-31 |website=the Guardian |language=en}}</ref><ref>{{Cite web |last=Times |first=Ivan Penn Ivan Penn is a former staff writer for the Los Angeles |date=2016-01-20 |title=California to investigate whether Exxon Mobil lied about climate-change risks |url=https://www.latimes.com/business/la-fi-exxon-global-warming-20160120-story.html |access-date=2022-10-31 |website=Los Angeles Times |language=en-US}}</ref>
===Exxon Valdez oil spill===
{{Main|Exxon Valdez oil spill}}


In December 2022, ] Chair ] and ] Chair ] sent a memorandum to all House Oversight and Reform Committee members summarizing additional findings from the committee's investigation into the ] campaign to obscure the role of fossil fuels in causing global warming. Upon reviewing internal company documents, they accused ExxonMobil along with ], ], and ] of ] their ] ] 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 ] denied.<ref>{{cite news |last=Clifford |first=Catherine |date=December 9, 2022 |title=Democratic lawmakers accuse big oil companies of 'greenwashing' |url=https://www.cnbc.com/2022/12/09/democratic-lawmakers-accuse-big-oil-of-greenwashing.html |access-date=December 10, 2022 |publisher=CNBC}}</ref><ref>{{cite report |url=https://oversight.house.gov/sites/democrats.oversight.house.gov/files/2022-12-09.COR_Supplemental_Memo-Fossil_Fuel_Industry_Disinformation.pdf |title=MEMORANDUM – Re: Investigation of Fossil Fuel Industry Disinformation |last1=Maloney |first1=Carolyn |last2=Khanna |first2=Ro |date=December 9, 2022 |publisher=U.S. House Oversight and Reform Committee |access-date=December 10, 2022 |archive-url=https://web.archive.org/web/20221228070207/https://oversight.house.gov/sites/democrats.oversight.house.gov/files/2022-12-09.COR_Supplemental_Memo-Fossil_Fuel_Industry_Disinformation.pdf |archive-date=December 28, 2022 |url-status=dead}}</ref><ref>{{cite episode |title=The Power of Big Oil |url=https://www.pbs.org/wgbh/frontline/film/the-power-of-big-oil/ |access-date=July 8, 2022 |series=FRONTLINE |series-link=Frontline (American TV program) |network=] |station=] |season=40 |number=10–12 |title-link=The Power of Big Oil}}</ref>
The March 24, 1989 ] resulted in the discharge of approximately 11 million gallons of oil (240,000 barrels) into ],<ref name = EVOSTC_FAQ>{{cite web|title=Frequently asked questions about the Exxon Valdez Oil Spill|url=http://www.evostc.state.ak.us/History/FAQ.htm|publisher=State of Alaska's Exxon Valdez Oil Spill Trustee|council|accessdate = 2007-03-06}}</ref> oiling {{convert|1300|mi|km}} of the remote Alaskan coastline. The State of Alaska's Exxon Valdez Oil Spill Trustee Council stated that the spill "is widely considered the number one spill worldwide in terms of damage to the environment",<ref name="EVOSTC_FAQ" /> but many ] have occurred.


In the United States, as of 2024, dozens of states and localities have sued ExxonMobil on the base of its climate change denial.<ref name=":3" />
Exxon was widely criticized for its slow response to cleaning up the disaster. John Devens, the Mayor of Valdez, has said his community felt betrayed by Exxon's inadequate response to the crisis.<ref></ref> Exxon later removed the name "Exxon" from its tanker shipping subsidiary, which it renamed "]." The renamed subsidiary, though wholly Exxon-controlled, has a separate corporate charter and board of directors, and the former '']'' is now the ''SeaRiver Mediterranean''. The renamed tanker is legally owned by a small, stand-alone company, which would have minimal ability to pay out on claims in the event of a further accident.<ref>The ]. "Even Renamed, Exxon Valdez can't Outlive Stain on its Past." October 15, 2002.</ref>


=== Oil spills and plastic pollution ===
After a trial, a jury ordered Exxon to pay $5 billion in punitive damages, though an appeals court reduced that amount by half. Exxon appealed further, and on June 25, 2008, the ] lowered the amount to $500 million.<ref name="supreme_appeal">{{cite news |url=http://seattletimes.nwsource.com/html/localnews/2003848272_webexxon22.html |title=Exxon seeks Supreme Court review of oil-spill fine |publisher=] |date=August 2007|first= |last= |accessdate=2007-08-24}}</ref>
] 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 ], where an Exxon tanker discharged approximately 11 million U.S. gallons (42,000 m3) of oil into ],<ref name="EVOSTC_FAQ">{{cite web |title=Frequently asked questions about the Exxon Valdez Oil Spill |url=http://www.evostc.state.ak.us/History/FAQ.htm |url-status=dead |archive-url=https://web.archive.org/web/20060925163639/http://www.evostc.state.ak.us/History/FAQ.htm |archive-date=September 25, 2006 |access-date=March 6, 2007 |publisher=State of Alaska's Exxon Valdez Oil Spill Trustee}}</ref> oiling {{convert|1300|mi|km}} of the remote Alaskan coastline. The spill remains the second largest in American history, only trailing ] ] in the ].<ref name="nationalgeographic_leahy_20190322">{{Cite magazine |last=Leahy |first=Stephen |date=March 22, 2019 |title=Exxon Valdez changed the oil industry forever – but new threats emerge |url=https://www.nationalgeographic.com/environment/2019/03/oil-spills-30-years-after-exxon-valdez/ |url-status=dead |archive-url=https://web.archive.org/web/20190325185337/https://www.nationalgeographic.com/environment/2019/03/oil%2Dspills%2D30%2Dyears%2Dafter%2Dexxon%2Dvaldez/ |archive-date=March 25, 2019 |access-date=October 25, 2019 |magazine=National Geographic}}</ref>


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 ] over the course of a century by Exxon and other Standard Oil predecessors,<ref name="cuomo">{{cite web |date=July 7, 2007 |title=Cuomo sues ExxonMobil over catastrophic Greenpoint oil spill |url=http://www.ag.ny.gov/press-release/cuomo-sues-exxonmobil-over-catastrophic-greenpoint-oil-spill |url-status=live |archive-url=https://web.archive.org/web/20130215235849/http://www.ag.ny.gov/press-release/cuomo-sues-exxonmobil-over-catastrophic-greenpoint-oil-spill |archive-date=February 15, 2013 |access-date=October 24, 2007}}</ref> a 2011 oil spill which leaked 1,500 barrels of oil into the ] (resulting in about $135 million in damages),<ref name="Pipelines and Hazardous Materials Safety Administration">{{cite web |date=October 30, 2012 |title=ExxonMobil Silvertip Pipeline Crude Oil Release into the Yellowstone River in Laurel, MT on 7/1/2011 |url=http://www.phmsa.dot.gov/staticfiles/PHMSA/DownloadableFiles/Files/Other%20files/ExxonMobil_HL_MT_10-2012.pdf |archive-url=https://web.archive.org/web/20130617150913/http://www.phmsa.dot.gov/staticfiles/PHMSA/DownloadableFiles/Files/Other%20files/ExxonMobil_HL_MT_10-2012.pdf |archive-date=June 17, 2013 |publisher=]}}</ref> and a 2012 1,900 barrel (80,000 gallon) spill from the company's ] in the rivers of ].<ref name="Reuters-April-2012">{{cite web |date=April 30, 2012 |title=Exxon Mobil shuts Louisiana oil pipeline after leak |url=https://www.reuters.com/article/us-exxon-spill-idUSBRE83T0K120120430 |url-status=live |archive-url=https://web.archive.org/web/20190322133208/https://www.reuters.com/article/us-exxon-spill-idUSBRE83T0K120120430 |archive-date=March 22, 2019 |access-date=March 22, 2019 |website=Reuters.com}}</ref> ExxonMobil's actives in Louisiana in particular, especially its ], have given the area the nickname of '']''. 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.<ref>{{Cite thesis |title=Incremental Landscape at a Baton Rouge Oil Refinery: Temporal Framework for Phytoremediation in Louisiana Cancer Alley |publisher=Louisiana State University Libraries |first=DaHyung |last=Yang |year=2018 |doi=10.31390/gradschool_theses.4704 |doi-access=free}}</ref><ref>{{Cite web |last=Pasley |first=James |title=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 |url=https://www.businessinsider.com/louisiana-cancer-alley-photos-oil-refineries-chemicals-pollution-2019-11 |access-date=2022-11-16 |website=Business Insider |language=en-US}}</ref>
In 2009, Exxon still uses more single-hull tankers than the rest of the largest ten oil companies combined, including the Valdez's sister ship, the SeaRiver Long Beach.<ref></ref>


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 ] in the world in 2019 (which were part of a larger group of 100 petrochemical companies that manufactured 90 percent of the waste),<ref>{{cite news |last=Meredith |first=Sam |date=May 18, 2021 |title=Just 20 companies are responsible for over half of 'throwaway' plastic waste, study says |url=https://www.cnbc.com/2021/05/18/20-companies-responsible-for-55percent-of-single-use-plastic-waste-study.html |access-date=December 18, 2022 |publisher=CNBC}}</ref><ref>{{cite report |url=https://cdn.minderoo.org/content/uploads/2021/05/27094234/20211105-Plastic-Waste-Makers-Index.pdf |title=The Plastic Waste Makers Index: Revealing the Source of the Single-Use Plastics Crisis |publisher=Minderoo Foundation |access-date=December 18, 2022 |year=2021}}</ref> while in April 2022, ] ] issued a subpoena to ExxonMobil for information related to the company's role in overstating the effectiveness of ] in reducing plastic pollution as part of an industry campaign to promote plastic usage.<ref>{{cite news |last=Newburger |first=Emma |date=April 28, 2022 |title=California subpoenas Exxon for details on role in global plastic pollution |url=https://www.cnbc.com/2022/04/28/california-subpoenas-exxon-for-details-on-role-in-plastic-pollution.html |access-date=December 18, 2022 |publisher=CNBC}}</ref><ref>{{cite episode |title=Plastic Wars |url=https://www.pbs.org/wgbh/frontline/film/plastic-wars/ |access-date=July 10, 2022 |series=FRONTLINE |series-link=Frontline (American TV program) |network=] |station=] |date=March 31, 2020 |season=38 |number=15}}</ref><ref>{{cite news |last=Westervelt |first=Amy |author-link=Amy Westervelt |date=May 11, 2022 |title=Exxon doubles down on 'advanced recycling' claims that yield few results |url=https://www.theguardian.com/environment/2022/may/11/exxon-advanced-recycling-plastic-pollution-investigation |access-date=December 18, 2022 |work=The Guardian}}</ref> On September 23, 2024, ] ] filed a lawsuit in ] against ExxonMobil on behalf of the state of ], alleging that the company carried out a "decades-long campaign of deception" and misled the public on the merits of plastic recycling; in response ExxonMobil said that California has an ineffective recycling system that officials have known about for decades.<ref>{{Cite web |last=Dewan |first=Angela |date=2024-09-23 |title=California sues ExxonMobil for alleged decades of deception around plastic recycling, in first-of-a-kind lawsuit |url=https://www.cnn.com/2024/09/23/climate/california-sues-exxonmobil-plastic-recycling/index.html |access-date=2024-09-23 |website=CNN |language=en}}</ref>
===Exxon's Brooklyn oil spill===
{{Main|Greenpoint oil spill}}


=== Geopolitical influence and human rights violations ===
New York Attorney General ] announced on July 17, 2007 that he had filed suit against the Exxon Mobil Corporation and ExxonMobil Refining and Supply Company to force cleanup of the oil spill at Greenpoint, Brooklyn, and to restore ].<ref name=cuomo>
{{See also|Conflict in the Niger Delta}}
{{cite web
] as Secretary of State, with Saudi Crown Prince ], May 2017]]
|url=http://www.oag.state.ny.us/press/2007/jul/jul17a_07.html
ExxonMobil has also been accused of human rights violations and abusing its geopolitical influence.<ref name="tel12" /> In the book ''Private Empire'' by ], 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".<ref>{{Cite book |last=Coll |first=Steve |url=https://www.worldcat.org/oclc/757470242 |title=Private empire : ExxonMobil and American power |date=2012 |publisher=Penguin Press |isbn=978-1-59420-335-0 |location=New York |oclc=757470242}}</ref> The company's corporate ancestors are also blamed for the outbreak of the 1954 ], which was sparked by the ]'s activities.<ref>{{cite news |date=August 11, 2012 |title=Oozing success |url=http://www.economist.com/node/21560226 |url-status=live |archive-url=https://web.archive.org/web/20150404133003/http://www.economist.com/node/21560226 |archive-date=April 4, 2015 |access-date=March 19, 2015 |newspaper=The Economist}}</ref><ref name="RLA">{{cite web |title=Milestones: 1921–1936 – Office of the Historian |url=https://history.state.gov/milestones/1921-1936/red-line |url-status=live |archive-url=https://web.archive.org/web/20190717191817/https://history.state.gov/milestones/1921-1936/red-line |archive-date=July 17, 2019 |access-date=July 23, 2019 |website=history.state.gov}}</ref>
|title=Cuomo sues ExxonMobil over catastrophik Greenpoint oil spil
|accessdate=2007-10-24
|date=2007-07-07
}}</ref>


==== Indonesia ====
A study of the spill released by the ] in September 2007 reported<ref>
{{Main|Accusations of ExxonMobil human rights violations in Aceh}}
{{cite web
|url=http://www.epa.gov/region2/superfund/npl/newtowncreek/newtowncreek_review.pdf
|title=Newton Creek/Greenpoint oil spill study, Brookly, New York
|accessdate=2007-10-24
|date=2007-09-12
|pages=4
|format=PDF}}</ref> that the spill consists of approximately 17 to 30 million gallons of petroleum products from the mid 1800's to the mid 1900's<ref></ref>. The largest portion of these operations were by ExxonMobil or its predecessors. By comparison, the Exxon Valdez oil spill was approximately 11 million gallons.<ref name = EVOSTC_FAQ/> The study reported that in the early 1900s ] operated a major refinery in the area where the spill is located. The refinery produced fuel oils, gasoline, kerosene and solvents. ] and gas oil, secondary products, were also stored in the refinery area. Standard Oil of New York later became Mobil, a predecessor to Exxon/Mobil.<ref>
{{cite web
|url=http://www.epa.gov/region2/superfund/npl/newtowncreek/newtowncreek_review.pdf
|title=Newton Creek/Greenpoint oil spill study, Brookly, New York
|accessdate=2007-10-24
|date=2007-09-12
|pages=23
|format=PDF}}</ref>


Beginning in the late 1980s, ExxonMobil (through predecessor Mobil) hired military units of the ] to provide security for their gas extraction and liquefaction project in ], Indonesia, and these military units were accused of committing human rights violations, including sexual assault, battery and unlawful detention. ExxonMobil eventually pulled out from Indonesia completely in 2001, while denying any wrongdoing.<ref>{{Cite news |date=July 8, 2011 |title=Indonesia torture case vs Exxon Mobil revived |url=https://www.reuters.com/article/us-exxonmobil-indonesia-idUSTRE7676I120110708 |access-date=May 13, 2020 |work=Reuters |language=en}}</ref> Exxon attempted to have the case dismissed nine times, dragging the lawsuit out for over 20 years. In July 2022, a ] denied ExxonMobil's motions to dismiss the case, clearing the way for the lawsuit to go to trial, although no trial date was set. In 2023, ExxonMobile settled the case a week before trial.<ref>{{Cite web |title=Oil giant ExxonMobil settles long-running Indonesia torture case |url=https://www.aljazeera.com/news/2023/5/16/oil-giant-exxonmobil-settles-long-running-indonesia-torture-case |access-date=2024-08-31 |website=Al Jazeera |language=en}}</ref>
===Sakhalin-I in the Russian Far East===
{{Main|Sakhalin-I}}


===Other controversies===
Scientists and environmental groups voice concern that the Sakhalin-I oil and gas project in the Russian Far East, operated by an ExxonMobil subsidiary, Exxon Neftegas Limited (ENL),<ref>http://www.secinfo.com/d14D5a.118Sq.9.htm</ref><ref>http://www.sakhalin1.com/en/</ref> threatens the critically endangered western gray whale population.<ref>http://www.iucn.org/wgwap/</ref><ref>http://www.ens-newswire.com/ens/apr2009/2009-04-24-02.asp /</ref><ref>http://news.bbc.co.uk/2/hi/science/nature/8017291.stm</ref> In February, 2009, independent scientists, convened by the International Union for the Conservation of Nature issued an urgent call for a "...moratorium on all industrial activities, both maritime and terrestrial, that have the potential to disturb gray whales in summer and autumn on and near their main feeding areas" following a sharp decline in observed whales in the main feeding area in 2008, adjacent to ENL's project area.<ref>See Section 17 at http://cmsdata.iucn.org/downloads/wgwap_5_report_final_040209.pdf</ref> The scientists also criticized ENL’s unwillingness to cooperate with the scientific panel process, which “certainly impedes the cause of western gray whale conservation.” <ref>See Section 18, pg 35, at http://cmsdata.iucn.org/downloads/wgwap_5_report_final_040209.pdf</ref>


==== War profiteering allegations ====
===Funding of global warming skeptics===
During a 2022 surge in profits among ExxonMobil and other large oil companies, partly due to ],<ref>{{cite news |last=Johnson |first=Jake |date=29 April 2022 |title={{-'}}Big Oil is intentionally profiteering from the war': Exxon profits double after Putin's invasion |url=https://www.salon.com/2022/04/29/big-oil-is-intentionally-profiteering-from-the-war-exxon-profits-double-after-putins-invasion_partner/ |work=] |access-date=2024-10-10}}</ref><ref>{{cite news |date=31 January 2023 |title=Exxon Mobil reached record profits amid high gas prices, war in Ukraine |url=https://www.pbs.org/newshour/economy/exxon-mobil-reached-record-profits-amid-high-gas-prices-war-in-ukraine |work=]}}</ref> U.S. President ] criticized ExxonMobil. In June 2022, amid record oil prices, he said that "Exxon made more money than God this year".<ref>{{Cite web |last=Franck |first=Thomas |date=June 10, 2022 |title='Start investing': Biden jabs Exxon Mobil for high fuel costs in inflation speech |url=https://www.cnbc.com/2022/06/10/watch-live-joe-biden-speaks-about-inflation-after-may-cip-report.html |access-date=2022-10-31 |website=CNBC |language=en}}</ref> When the oil giant reported its second quarter earnings in 2022, ] reported that Exxon made US$2,245.62 per second in profit across the 92-day long second quarter.<ref>{{Cite web |last=Isidore |first=Chris |date=2022-07-29 |title=$2,245.62 a second: ExxonMobil scores enormous profit on record gas prices {{!}} CNN Business |url=https://www.cnn.com/2022/07/29/energy/exxonmobil-chevron-earnings/index.html |access-date=2022-10-31 |website=CNN |language=en}}</ref>
ExxonMobil has been accused by pro-global warming organizations of paying to fuel skepticism of anthropogenic global warming<ref>{{cite web |url=http://www.ucsusa.org/news/press_release/ExxonMobil-GlobalWarming-tobacco.html |title= Scientists' Report Documents ExxonMobil’s Tobacco-like Disinformation Campaign on Global Warming Science |accessdate=2009-04-24 |publisher=Union of Concerned Scientists}}</ref><ref>{{cite web |url=http://royalsociety.org/document.asp?tip=1&id=5851 |title= Royal Society and ExxonMobil |accessdate=2009-04-24 |publisher= The Royal Society}}</ref>


==== Exposure to benzene ====
ExxonMobil has drawn criticism from the environmental lobby for funding organizations critical of the ] and skeptical of the ] that ] is caused by the burning of ]s. According to the left-wing '']'', the company was a member of one of the first such skeptic groups, the ], founded in 1989.<ref>{{cite news |url=http://www.motherjones.com/news/feature/2005/05/some_like_it_hot.html |title=Some Like It Hot |work=] |date=May 2005|first= |last= |accessdate=2007-04-29}}</ref> According to '']'', ExxonMobil has funded, among other groups skeptical of global warming, the ], ], ], ], ], and ].<ref>{{cite news |url=http://environment.guardian.co.uk/climatechange/story/0,,1876538,00.html |title=Royal Society Letter to Exxon|publisher=] |date=2006-09-20|first= |last= |accessdate=2006-10-18}}</ref><ref>{{cite news |url=http://observer.guardian.co.uk/international/story/0,6903,1361276,00.html |title=Claims by think-tank outrage eco-groups |publisher=] |date=2004-11-28|first= |last= |accessdate=2007-01-16}}</ref> ExxonMobil's support for these organizations has drawn criticism from the ], the academy of sciences of ].<ref>{{cite news |accessdate=2006-10-18
In May 2024, a Pennsylvania jury found ExxonMobil liable for negligently failing to warn about the health risks of ], which is classified by the ] as a known ], and ordered the company to pay $725.5 million in ] to a former mechanic, Paul Gill, who claimed that his cancer was caused by ] in ExxonMobil's petroleum products while working at a Mobil gas station between 1975 and 1980.<ref>{{Cite web |last=Mindock |first=Clark |date=2024-05-10 |title=Exxon hit with $725.5 million verdict over mechanic's leukemia diagnosis |url=https://finance.yahoo.com/news/exxon-hit-725-5-million-152804253.html |url-status=live |archive-url=http://web.archive.org/web/20240511043635/https://finance.yahoo.com/web/20240511043635/https://finance.yahoo.com/news/exxon-hit-725-5-million-152804253.html |archive-date=2024-05-11 |access-date=2024-05-25 |website=] |language=en-US}}</ref><ref>{{Cite web |last1=Alake |first1=Tope |last2=Bloomberg |date=2024-05-10 |title=Philadelphia jury hits Exxon with $725.5 million verdict on mechanic's claim that he got cancer from benzene exposure |url=https://fortune.com/well/2024/05/10/exxon-verdict-725-5-million-philadelphia-cancer/ |url-status=live |archive-url=http://web.archive.org/web/20240510212024/https://fortune.com/well/2024/05/10/exxon-verdict-725-5-million-philadelphia-cancer/ |archive-date=2024-05-10 |access-date=2024-05-25 |website=] |language=en}}</ref>
|url=http://image.guardian.co.uk/sys-files/Guardian/documents/2006/09/19/LettertoNick.pdf |title=Royal Society tells Exxon: stop funding climate change denial
|publisher=]
|date=September 4, 2006|format=PDF}}</ref> The ] released a report in 2007 accusing ExxonMobil of spending $16 million, between 1998 and 2005, towards 43 advocacy organizations which dispute the impact of global warming.<ref name="ReportDisinformation">{{cite press release |accessdate=2007-01-04
|url=http://www.ucsusa.org/news/press_release/ExxonMobil-GlobalWarming-tobacco.html
|title=Scientists' Report Documents ExxonMobil’s Tobacco like Disinformation Campaign on Global Warming Science
|publisher=]
|date=January 3, 2006}}</ref> The report argued that ExxonMobil used disinformation tactics similar to those used by the ] in its denials of the link between ] and smoking, saying that the company used "many of the same organizations and personnel to cloud the scientific understanding of ] and delay action on the issue."<ref name="ReportDisinformation" /> These charges are consistent with a purported 1998 internal ExxonMobil strategy memo, posted by the environmental group Environmental Defense, stating
{{quote
|Victory will be achieved when
*Average citizens 'understand' (recognize) uncertainties in ]; recognition of uncertainties becomes part of the 'conventional wisdom' …
*Industry senior leadership understands uncertainties in climate science, making them stronger ambassadors to those who shape climate policy
*Those promoting the Kyoto treaty on the basis of extant science appear out of touch with reality.<ref>ExxonMobil. "Global Climate Science Communications." April 3, 1998. See also Environmental Defense commentary "Guess who's funding the global warming doubt shops?" and Cooperative Research history commons chronology of Exxon's PR efforts </ref>}}


==Corporate affairs==
ExxonMobil has been reported as having plans to invest up to US$100m over a ten year period in ]'s Global Climate and Energy Project.<ref> retrieved 10 April 2008</ref>
{{Big Oil}}


===Business trends===
In August 2006, the '']'' revealed that a ] video ] ], titled '']'', appeared to be ] by ], a Washington PR firm with ties to ExxonMobil.<ref name=WSJ_Aug2006>{{cite news
According to ], ExxonMobil was the second largest company, second largest ], and the largest oil company in the United States by 2017 revenue.<ref name="fortuneglobal500">{{cite web|url=http://fortune.com/global500/|title=Fortune Global 500 List 2018|magazine=Fortune|access-date=March 22, 2019|archive-url=https://web.archive.org/web/20120509014825/https://money.cnn.com/magazines/fortune/global500/2011/full_list/index.html|archive-date=May 9, 2012|url-status=live}}</ref> For the fiscal year 2020, ExxonMobil reported a loss of US$22.4&nbsp;billion, with an annual revenue of US$181.5&nbsp;billion, a decline of 31.5% over the previous fiscal cycle.<ref name=":2" />
|title=Where did that video spoofing Gore's film come from?
|url=http://www.post-gazette.com/pg/06215/710851-115.stm
|author=Antonio Regalado and Dionne Searcey
|date=August 3, 2006}}</ref><ref name=Ayres2006>{{cite news
|url=http://www.timesonline.co.uk/tol/news/world/us_and_americas/article700813.ece
|title=Slick lobbying is behind penguin spoof of Al Gore|author=Chris Ayres
|work=The Times|date=August 5, 2006 | location=London}}</ref>


The key trends of ExxonMobil are (as at the financial year ending December 31):<ref>{{Cite web |title=Exxon Mobil Fundamentalanalyse {{!}} KGV {{!}} Kennzahlen |url=https://www.boerse.de/fundamental-analyse/Exxon-Mobil-Aktie/US30231G1022 |access-date=2024-04-06 |website=boerse.de |language=de}}</ref>
In January 2007, the company appeared to change its position, when vice president for ] Kenneth Cohen said "we know enough now—or, society knows enough now—that the risk is serious and action should be taken." Cohen stated that, as of 2006, ExxonMobil had ceased funding of the ] and "'five or six' similar groups".<ref name=CohenJan2007>{{cite news|accessdate=2007-05-09|url=http://www.msnbc.msn.com/id/16593606/
|title=Exxon cuts ties to global warming skeptics
|date=January 12, 2007|publisher=MSNBC}}</ref>
While the company did not publicly state which the other similar groups were, a May 2007 report by ] does list the five groups it stopped funding as well as a list of 41 other climate skeptic groups which are still receiving ExxonMobil funds.<ref>http://www.greenpeace.org/usa/assets/binaries/exxon-secrets-analysis-of-fun.pdf</ref>


As per Fortune 500 Global list, ExxonMobil has been ranked #7 company in the World.<ref>{{Cite web |title= Fortune 500|url=https://fortune.com/ranking/fortune500/}}</ref>
On February 13, 2007, ExxonMobil CEO ] acknowledged that the planet was warming while ] levels were increasing, but in the same speech gave an unqualified defense of the oil industry and predicted that hydrocarbons would dominate the world’s transportation as ] grows by an expected 40 percent by 2030. Tillerson stated that there is no significant alternative to oil in coming decades, and that ExxonMobil would continue to make petroleum and natural gas its ],<ref name="tillerson">{{cite news|url=http://www.nytimes.com/2007/02/14/business/14exxon.html?_r=1&ref=business&oref=slogin
|title=Exxon Chief Cautions Against Rapid Action to Cut Carbon Emissions
|date=February 14, 2007 |work=New York Times}}</ref> saying: "I'm no expert on ]s. I don't know much about farming and I don't know much about moonshine. ... There is really nothing ExxonMobil can bring to that whole biofuels issue. We don't see a direct role for ourselves with today's technology."<ref name="tillerson2">{{cite news
|url=http://today.reuters.com/news/articleinvesting.aspx?view=CN&symbol=&storyID=2007-02-13T193841Z_01_N13179119_RTRIDST_0_ENERGY-CERA-EXXON-UPDATE-2.XML&pageNumber=1&WTModLoc=InvArt-C1-ArticlePage1&sz=13 |title=Exxon Mobil CEO: climate policy would be prudent
|publisher=Reuters|date=February 13, 2007}}</ref>


{| class="wikitable float-left" style="text-align: right;"
A survey carried out by the UK's ] found that in 2005 ExxonMobil distributed $2.9m to 39 groups that the society said "misrepresented the science of climate change by outright denial of the evidence".<ref>{{cite news |url=http://www.guardian.co.uk/environment/2008/may/28/climatechange.fossilfuels/|title=Exxon to cut funding to climate change denial groups|accessdate=2008-12-23 |format= | work=The Guardian | location=London | first=David | last=Adam | date=2008-05-28}}</ref>
|-
!Year
!Revenue<br />(US$ bn)
!Net income/<br>loss<br />(US$ bn)
!Total assets<br />(US$ bn)
!Price per share<br />(US$)<br />{{Citation needed|date=April 2024}}
!Employees
|-
|2008<ref name=":0">{{cite web|url=https://www.annualreports.com/HostedData/AnnualReportArchive/e/NYSE_XOM_2009.pdf|title=2009 Annual Report|website=Annualreports.com|access-date=November 11, 2018|archive-url=https://web.archive.org/web/20181112021415/https://www.annualreports.com/HostedData/AnnualReportArchive/e/NYSE_XOM_2009.pdf|archive-date=November 12, 2018|url-status=live}}</ref>
|477
|45.2
|228
|82.68
|79,900
|-
|2009<ref name=":0" />
|310
|19.2
|233
|70.95
|80,700
|-
|2010<ref>{{cite web|url=https://www.annualreports.com/HostedData/AnnualReportArchive/e/NYSE_XOM_2010.pdf|title=2010 Annual Report|website=Annualreports.com|access-date=November 11, 2018|archive-url=https://web.archive.org/web/20180403104359/https://www.annualreports.com/HostedData/AnnualReportArchive/e/NYSE_XOM_2010.pdf|archive-date=April 3, 2018|url-status=live}}</ref>
|383
|30.4
|302
|64.99
|83,600
|-
|2011<ref>{{cite web|url=https://www.annualreports.com/HostedData/AnnualReportArchive/e/NYSE_XOM_2011.pdf|title=2011 Annual Report|website=Annualreports.com|access-date=November 11, 2018|archive-url=https://web.archive.org/web/20180131105528/http://annualreports.com/HostedData/AnnualReportArchive/e/NYSE_XOM_2011.pdf|archive-date=January 31, 2018|url-status=live}}</ref>
|486
|41,0
|331
|79.71
|82,100
|-
|2012<ref>{{cite web|url=https://www.annualreports.com/HostedData/AnnualReportArchive/e/NYSE_XOM_2012.pdf|title=2012 Annual Report|website=Annualreports.com|access-date=November 11, 2018|archive-url=https://web.archive.org/web/20181112101319/https://www.annualreports.com/HostedData/AnnualReportArchive/e/NYSE_XOM_2012.pdf|archive-date=November 12, 2018|url-status=live}}</ref>
|480
|44.8
|333
|86.53
|76,900
|-
|2013<ref>{{cite web|url=https://www.annualreports.com/HostedData/AnnualReportArchive/e/NYSE_XOM_2013.pdf|title=2013 Annual Report|website=Annualreports.com|access-date=November 11, 2018|archive-url=https://web.archive.org/web/20181112021605/https://www.annualreports.com/HostedData/AnnualReportArchive/e/NYSE_XOM_2013.pdf|archive-date=November 12, 2018|url-status=live}}</ref>
|438
|32.5
|346
|90.50
|75,000
|-
|2014<ref>{{cite web|url=https://www.annualreports.com/HostedData/AnnualReportArchive/e/NYSE_XOM_2014.pdf|title=2014 Annual Report|website=Annualreports.com|access-date=November 11, 2018|archive-url=https://web.archive.org/web/20181112021616/https://www.annualreports.com/HostedData/AnnualReportArchive/e/NYSE_XOM_2014.pdf|archive-date=November 12, 2018|url-status=live}}</ref>
|411
|32.5
|349
|97.27
|75,300
|-
|2015<ref name=":1">{{cite web|url=https://www.annualreports.com/HostedData/AnnualReportArchive/e/NYSE_XOM_2016.pdf|title=2016 Annual Report|website=Annualreports.com|access-date=November 11, 2018|archive-url=https://web.archive.org/web/20181112021258/https://www.annualreports.com/HostedData/AnnualReportArchive/e/NYSE_XOM_2016.pdf|archive-date=November 12, 2018|url-status=live}}</ref>
|249
|16.1
|336
|82.82
|73,500
|-
|2016<ref name=":1" />
|208
|7.8
|330
|86.22
|71,100
|-
|2017<ref>{{cite web|url=https://news.exxonmobil.com/press-release/exxonmobil-earns-197-billion-2017-84-billion-fourth-quarter|title=ExxonMobil Earns $19.7 Billion in 2017; $8.4 Billion in Fourth Quarter|website=ExxonMobil News Releases|access-date=November 11, 2018|archive-url=https://web.archive.org/web/20181012111423/https://news.exxonmobil.com/press-release/exxonmobil-earns-197-billion-2017-84-billion-fourth-quarter|archive-date=October 12, 2018|url-status=live}}</ref>
|244
|19.7
|348
|81.86
|69,600
|-
|2018<ref>{{cite web|url=https://corporate.exxonmobil.com/-/media/Global/Files/investor-relations/annual-meeting-materials/annual-report-summaries/2018-Summary-Annual-Report.pdf|title=2018 SUMMARY ANNUAL REPORT|website=ExxonMobil News Releases|access-date=August 19, 2019|archive-url=https://web.archive.org/web/20190614033704/https://corporate.exxonmobil.com/-/media/Global/Files/investor-relations/annual-meeting-materials/annual-report-summaries/2018-Summary-Annual-Report.pdf|archive-date=June 14, 2019|url-status=live}}</ref>
|290
|20.8
|346
|79.96
|71,000
|-
|2019<ref>{{cite web|title=2019 Summary Annual Report|url=https://corporate.exxonmobil.com/-/media/Global/Files/investor-relations/annual-meeting-materials/annual-report-summaries/2019-Summary-Annual-Report.pdf|website=Exxon Mobil|date=April 28, 2023 }}</ref>
|264
|14.3
|362
|73.73
|74,900
|-
|2020<ref name=":2">{{cite web|date=2021-04-02|title=2020 Financial and Operating Data|url=https://corporate.exxonmobil.com/-/media/Global/Files/annual-report/2020-Financial-and-Operating-Data.pdf|access-date=2021-05-28|website=ExxonMobil}}</ref>
|181
|−22.4
|332
|44.52
|72,000
|-
|2021<ref>{{cite web|title=2021 Financial and Operating Data|url=https://corporate.exxonmobil.com/-/media/Global/Files/investor-relations/annual-meeting-materials/annual-report-summaries/2021-Annual-Report.pdf|access-date=2022-05-28|website=ExxonMobil}}</ref>
|285
|23.0
|338
|57.96
|63,000
|-
|2022{{sfn|10-K|2022}}
|413
|55.7
|369
|110.30
|62,300
|-
| style="text-align:left;"|2023{{sfn|10-K|2023}}
|344
|36.0
|376
|
|61,500
|}


===Headquarters and offices===
On July 1, 2009, ] newspaper revealed that ExxonMobil has continued to fund organizations including the ] (NCPA) along with the ], despite a public pledge to cut support of lobby groups who deny ].<ref>{{cite news |accessdate=2009-07-01
]. Former ExxonMobil offices in ] were vacated in early 2015.]]
|url=http://www.guardian.co.uk/environment/2009/jul/01/exxon-mobil-climate-change-sceptics-funding |title=ExxonMobil continuing to fund climate sceptic groups, records show |publisher=] |date=July 1, 2009 | location=London | first=David | last=Adam}}</ref>
ExxonMobil's headquarters are located in the ] area, a suburb of Houston. The ExxonMobil campus has a Spring post office address, and is adjacent to, but not in, the Spring ].<ref>{{cite web|url=https://corporate.exxonmobil.com/who-we-are/contact-us/directory|title=Directory|publisher=ExxonMobil|access-date=2024-08-03|quote=Business headquarters 22777 Springwoods Village Parkway Spring, TX 77389-1425}}<br>Compare to: {{cite web|url=https://www2.census.gov/geo/maps/DC2020/DC20BLK/st48_tx/place/p4869596_spring/DC20BLK_P4869596.pdf|title=2020 CENSUS – CENSUS BLOCK MAP (INDEX): Spring CDP, TX|publisher=]|page=1 (PDF p. 2/4)|access-date=2024-08-03}}</ref> Paul Takahashi of the '']'' described the headquarters as being in Spring.<ref name=Takahashimove>{{cite news |last=Takahashi |first=Paul |date=2022-01-31 |title=Exxon to move headquarters to Houston, from Dallas-area Irving |url=https://www.houstonchronicle.com/business/energy/article/Irving-based-Exxon-to-move-headquarters-to-Houston-16819300.php |access-date=2022-01-31 |newspaper=]|quote=The Irving-based oil giant said the corporate relocation to Spring}}</ref>


The headquarters was previously in ].<ref>" {{Webarchive|url=https://web.archive.org/web/20120511115425/http://exxonmobil.com/Corporate/contactus_contact_businessheadquarters.aspx |date=May 11, 2012 }}." ExxonMobil. Retrieved March 6, 2012.</ref> The company decided to consolidate its Houston operations into one new campus located in northern ] and vacate its offices on 800 Bell St. which it had occupied since 1963.<ref>{{cite web|date=May 4, 2015|title=ExxonMobil's New Campus: Giving Houston a Second Energy Corridor|url=https://urbanland.uli.org/development-business/exxonmobils-new-campus-giving-houston-second-energy-corridor/|access-date=July 9, 2020|website=Urban Land Magazine|language=en-US}}</ref> The decision came in 2022.<ref name=Takahashimove>{{cite news |last=Takahashi |first=Paul |date=2022-01-31 |title=Exxon to move headquarters to Houston, from Dallas-area Irving |url=https://www.houstonchronicle.com/business/energy/article/Irving-based-Exxon-to-move-headquarters-to-Houston-16819300.php |access-date=2022-01-31 |newspaper=]|quote=The Irving-based oil giant said the corporate relocation to Spring}}</ref> The new operation complex includes twenty office buildings totaling {{convert|3000000|sqft|m2}}, a wellness center, laboratory, and three parking garages.<ref>{{cite web|last=Sarnoff|first=Nancy|url=http://www.chron.com/disp/story.mpl/business/energy/6841225.html|title=ExxonMobil is considering a move|work=Houston Chronicle|date=January 28, 2010|access-date=August 14, 2010|archive-url=https://web.archive.org/web/20100731190520/http://www.chron.com/disp/story.mpl/business/energy/6841225.html|archive-date=July 31, 2010|url-status=live}}</ref> It is designed to house nearly 10,000 employees.
==Criticism==
===Environment===
ExxonMobil has been criticized by major environmental advocacy groups. In 2003, Greenpeace listed Exxon as #1 Climate Criminal. Exxon's alleged crimes include the sabotage of efforts to deal with climate change, the fraudulent manipulation of peer reviewed scientific studies and organizations, misleading and outright lying to the population of the USA, its government officials and the global community in general.


===Foreign business practices=== ===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 ]. Before his election as chairman and CEO, Woods was elected president of ExxonMobil and a member of the board of directors in 2016.<ref name="Exxon-Mobil-Corporation-Dec-2016-8-K">{{cite web |url=http://pdf.secdatabase.com/1986/0000034088-16-000103.pdf |title=Exxon Mobil Corporation, Form 8-K, Current Report, Filing Date Dec 16, 2016 |publisher=secdatabase.com |access-date=April 23, 2018 |archive-url=https://web.archive.org/web/20180424135731/http://pdf.secdatabase.com/1986/0000034088-16-000103.pdf |archive-date=April 24, 2018 |url-status=live }}</ref>
] by '']'' raised questions about ExxonMobil's dealings with the leaders of oil-rich nations. ExxonMobil controls concessions covering 11 million acres (44,500&nbsp;km²) off the coast of ] that hold an estimated 7.5 billion barrels (1.2&nbsp;km³) of crude.<ref>ExxonMobil. ].</ref>


{{As of|2021|7|28|df=US}}, the current ExxonMobil board members are:<ref name="BoardofDirector">{{cite web
<!-- Ref check: This assertion does not seem to be supported by the cited sources. Only the first source is from Forbes magazine, and even then, "handed hundreds of millions of dollars" seem to be the contractual oil payments rather than a bribe as insinuated. The rest of the sources are not related to Forbes at all and should be stated as such. They seem to be some kind of NGO, who are not automatically a reliable source.
|url=https://corporate.exxonmobil.com/About-us/Who-we-are/Corporate-governance/ExxonMobil-board-of-directors#exxonMobilCorporationBoardOfDirectors
|title=Exxon Mobil Corp. Board of Directors
|publisher=Exxon Mobil Corp.
|access-date=December 29, 2021
}}</ref>
* Michael J. Angelakis, chair and chief executive officer of Atairos Group Inc.
* ], president emerita of ]
* ], former president and CEO of WellPoint (now ])
* ], former chair and CEO of ]
* ], former executive vice chair, ]
* ], board professional
* Joseph L. Hooley, former chair, president and CEO of ]
* ], chair, president and CEO of ]
* ], senior strategist at ]
* ], Founder, Portfolio Manager, and Managing Partner, Inclusive Capital Partners, L.P.
* ], chair of the board and CEO, ExxonMobil Corporation
Hooley is presently the lead independent director, having succeeded former ] CEO ] upon his retirement in May 2022.<ref>{{Cite web |date=2022-03-22 |title=ExxonMobil Lead Director Ken Frazier to Retire; Jay Hooley to Become Lead Director |url=https://www.businesswire.com/news/home/20220322005481/en/ExxonMobil-Lead-Director-Ken-Frazier-to-Retire-Jay-Hooley-to-Become-Lead-Director |access-date=2022-03-29 |website=www.businesswire.com |language=en}}</ref> Three of the directors nominated at the last ] were nominated after a proxy battle against hedge fund ] and were nominated against the suggestion of the board.<ref>{{Cite news |last=Herbst-Bayliss |first=Svea |date=2021-06-29 |title=Little Engine No. 1 beat Exxon with just $12.5 mln – sources |language=en |work=Reuters |url=https://www.reuters.com/business/little-engine-no-1-beat-exxon-with-just-125-mln-sources-2021-06-29/ |access-date=2022-06-11}}</ref>


===Key executives===
''Forbes'' alleged that "ExxonMobil handed hundreds of millions of dollars to the corrupt regime of President ] in the late 1990s.<ref>Forbes Magazine. "Dangerous Liaisons." April 28, 2003.</ref><ref name="santos2">In May 2002, ] advocates began calling for an investigation of the role of US oil companies and the Bush administration in Angola’s "Arms for Oil" scandal. According to a report by the British-based ] ], Bush and US oil interests had ties to some of the key figures in the arms-for-oil scandal. Global Witness alleged that in exchange for profitable ] oil concessions, ExxonMobil and other American and ]an oil companies funded ] Jose Eduardo dos Santos. After transferring an alleged $770 million in oil revenues to their own private bank accounts, dos Santos and his administration began a violent offensive against ] in the country in which many human rights abuses were inflicted on the Angolan people. from </ref> <ref name="santos3"> Violation of the Bribes & Foreign Corrupt Practices Aact (ExxonMobil controls concessions covering 11 million acres (44,500 km²) off the coast of <Angola that hold an estimated 7.5 billion barrels (1.2 km³) of crude. from </ref><ref name="santos4"> Even though Angola is the most effective of Africa's oil producers at retaining a high percentage of its oil wealth, its people get the least benefit from it. Much of that wealth has been mortgaged to pay for a long and destructive civil war. The lack of transparency of Angola's Government and its oil corporation, Sonangol, with the complicity of ] companies, causes the rest to disappear without leaving much trace among Angola's poor. from </ref> <ref name="santos5"> How Angolan State corruption and the lack of oil company and banking transparency has contributed to Angola's humanitarian and development catastrophe. from </ref>
ExxonMobil's key executives are:<ref>{{Cite web |title=Mergent Online – Company Detail : ExxonMobil |url=https://www.mergentonline.com/companydetail.php?compnumber=2907&pagetype=synopsis |access-date=2022-09-22 |website=www.mergentonline.com}}</ref>
*], chairman and CEO
*Neil Chapman, Senior Vice President
*Kathryn Mikells, CFO and Senior Vice President
*Jack Williams, Senior Vice President
*James Spellings, General Tax Counsel and Vice President


==See also==
-->
* Litigation involving ExxonMobil:
In 2003, the ] reported that ExxonMobil engaged in illegal trade with ] and it, along with dozens of other companies, settled with the United States government for $50,000.<ref>CNN. "Wal-Mart, ], others settle charges of illegal trading." April 14, 2003.</ref>
** '']''
** '']''
** '']''
** '']''


==Notes==
In March 2003, ] of the ] was indicted, accused of bribing President ] of ] with $78 million to help ExxonMobil win a 25 percent share of the ] oilfield, the third largest in the world. On April 2, 2003, former-Mobil executive J. Bryan Williams was indicted on tax charges relating to this same transaction. The case is the largest under the ].<ref>Foley & Lardner, LLP. "SEC and DOJ Enforcement Actions and Opinions." May 30, 2003.</ref> This series of events is depicted in the film ].
{{Notelist}}


==References==
In a ] release dated September 18, 2003, the United States Attorney for the ] announced that J. Bryan Williams, a former senior executive of Mobil Oil Corporation, had been sentenced to three years and ten months in prison on charges of evading ]es on more than $7 million in unreported income, "including a $2 million kickback he received in connection with Mobil's oil business in Kazakhstan." According to documents filed with the court, Williams' unreported income included millions of dollars in kickbacks from governments, persons, and other entities with whom Williams conducted business while employed by Mobil. In addition to his sentence, Williams must pay a fine of $25,000 and more than $3.5 million in restitution to the ], in addition to penalties and interest.<ref></ref>
{{reflist}}


===Human rights=== ==Bibliography==
{{Refbegin}}
{{Main|ExxonMobil in Indonesia}}
* Form 10-K 2018: {{Cite report |url=https://www.sec.gov/Archives/edgar/data/34088/000003408819000010/xom10k2018.htm |title=Exxon Mobil Corporation, Form 10-K for fiscal year ended December 31, 2018 |date=February 27, 2019<!-- from Signatures page --> |publisher=] |access-date=February 10, 2023 |format=XBRL |ref={{SfnRef|10-K|2018}} }}
{{Unreferenced section|date=February 2010}}
* Form 10-K 2022: {{Cite report |url=https://www.sec.gov/Archives/edgar/data/34088/000003408823000020/xom-20221231.htm |title=Exxon Mobil Corporation, Form 10-K for fiscal year ended December 31, 2022 |date=February 22, 2023<!-- from Signatures page --> |publisher=] |access-date=March 10, 2023 |format=XBRL |ref={{SfnRef|10-K|2022}} }}
ExxonMobil is the target of human rights activists for greedy actions taken by the corporation in the ]n territory of ]. In June 2001 a lawsuit against ExxonMobil was filed in the Federal ] of ] under the ]. The suit alleges that the ExxonMobil knowingly assisted human rights violations, including ], ] and ], by employing and providing material support to ] forces, who committed the alleged offenses during ] in Aceh. Human rights complaints involving Exxon's (Exxon and Mobil had not yet merged) submarine relationship with the Indonesian military first arose in 1992; the company denies these accusations and has filed a ] the suit, which as of 2006 is still pending.<ref>International ] Fund. "ExxonMobil: How the Company is Linked with Indonesian Military Killings, Torture and other Severe Abuse in Aceh, Indonesia."</ref> Following the submarine tsunami, voices of dissent ceased to be heard and the US military arrived ostensibly to assist the extinct people and culture. The company also liberated the West Qurna-1 oil field in southern Iraq.
* Form 10-K 2023: {{Cite report |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/34088/000003408824000018/xom-20231231.htm |title=Exxon Mobil Corporation, Form 10-K for fiscal year ended December 31, 2023 |date=February 28, 2024<!-- from Signatures page --> |publisher=] |access-date=February 29, 2024 |format=XBRL |ref={{SfnRef|10-K|2023}} }}

* Bender, Rob, and Tammy Cannoy-Bender. ''An Unauthorized Guide to: Mobil Collectibles – Chasing the Red Horse''. Atglen, Pennsylvania: Schiffer Publishing Co., 1999.
==Headquarters==
* Exxon Corp. ''Century of Discovery: An Exxon Album''. 1982.
ExxonMobil's headquarters are located in ]. As of January 2010, the company is conducting an internal study regarding possible consolidation of facilities to the northern ] suburb of ], at the intersection of ] and the ]. Architectural documents obtained by the Houston Chronicle outline an elaborate corporate campus, including twenty office buildings totaling three million square-feet, a wellness center, laboratory, and multiple parking garages.<ref>http://www.chron.com/disp/story.mpl/business/energy/6841225.html</ref> Alan Jeffers, a spokesperson for the company, did not say whether the consolidation study includes the Irving headquarters, but definitely includes the Fairfax headquarters. Chris Wallace, the chief executive of the Greater Irving-Las Colinas Chamber of Commerce, said that he believed that it does include the headquarters.<ref>Souder, Elizabeth and Brandon Formby. "." '']''. Saturday January 30, 2010. Retrieved on February 18, 2010.</ref>
* Gibb, George S., and Evelyn H. Knowlton. ''The Resurgent Years, 1911–1927: History of Standard Oil Co. (New Jersey)''. New York: ] 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.
==See also==
* Larson, Henrietta M., and Kenneth Wiggins Porter. ''History of Humble Oil & Refining Co.: A Study in Industrial Growth''. New York: Harper & Brothers Publishers, 1959.
{{portalbox
* Larson, Henrietta M., Evelyn H. Knowlton, and Charles S. Popple. ''New Horizons, 1927–1950: History of Standard Oil Co. (New Jersey)''. New York: ], 1971.
| name1 = Dallas-Fort Worth
* McIntyre, J. Sam. ''The Esso Collectibles Handbook: Memorabilia from Standard Oil of New Jersey''. Atglen, Pennsylvania: Schiffer Publishing Co., 1998.
| image1 = Flag of Dallas.svg
* Sampson, Anthony. ''The Seven Sisters: The 100-year Battle for the World's Oil Supply''. New York: Bantom Books, 1991.
| name2 = Companies
* Standard Oil Co. (New Jersey). ''Ships of the Esso Fleet in World War II''. 1946.
| image2 = factory 1b.svg
* ] ''All in a Day's Work: An Autobiography.''. New York: The MacMillan Co., 1939.
| name3 = Energy
* Tarbell, Ida M., and ]. '']''. New York: Harper & Row, 1966.
| image3 = Crystal_energy.svg
* 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.
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* ]. '']''. New York: ], 1991.
*] (in Louisiana, United States)
{{Refend}}
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==References==
===Bibliography===
*Bender, Rob, and Tammy Cannoy-Bender. ''An Unauthorized Guide to: Mobil Collectibles — Chasing the Red Horse''. Atglen, Pennsylvania: Schiffer Publishing Company, 1999.
*Exxon Corporation. ''Century of Discovery: An Exxon Album''. 1982.
*Gibb, George S., and Evelyn H. Knowlton. ''The Resurgent Years, 1911-1927: History of Standard Oil Company (New Jersey)''. New York: ] Publishers, 1956.
*Hidy, Ralph W., and Muriel E. Hidy. ''Pioneering in Big Business, 1882-1911: History of Standard Oil Company (New Jersey)''. New York: Harper & Brothers Publishers, 1955.
*Larson, Henrietta M., and Kenneth Wiggins Porter. ''History of Humble Oil & Refining Company: 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 Company (New Jersey)''. New York: ], 1971.
*McIntyre, J. Sam. ''The Esso Collectibles Handbook: Memorabilia from Standard Oil of New Jersey''. Atglen, Pennsylvania: Schiffer Publishing Company, 1998.
*Sampson, Anthony. ''The Seven Sisters: The 100-year Battle for the World's Oil Supply''. New York: Bantom Books, 1991.
*Standard Oil Company (New Jersey). ''Ships of the Esso Fleet in World War II''. 1946.
*] ''All in a Day’s Work: An Autobiography.''. New York: The MacMillan Company, 1939.
*Tarbell, Ida M., and ]. '']''. New York: Harper & Row, 1966.
*Wall, Bennett H. ''Growth in a Changing Environment: A History of Standard Oil Company (New Jersey) 1950-1972 and Exxon Corporation (1972–1975)''. New York: McGraw-Hill Book Company, 1988.
*]. '']''. New York: ], 1991.


===Notes=== ==Further reading==
{{Reflist|2}} {{Refbegin}}
* {{Cite book | last = Coll | first = Steve | author-link = Steve Coll | year = 2012 | title = Private Empire: ExxonMobil and American Power | location = New York, NY | publisher = ] | isbn = 978-1-594-20335-0 | url-access = registration | url = https://archive.org/details/isbn_9781594203350 }}
* {{Cite book | last = Painter | first = David S. | author-link = David S. Painter | year = 1987 | title = Private Power and Public Policy: Multinational Oil Corporations and United States Foreign Policy, 1941–1954 | url = http://www.ibtauris.com/Books/Society%20%20social%20sciences/Politics%20%20government/International%20relations/Private%20Power%20and%20Public%20Policy%20Multinational%20Oil%20Corporations%20and%20United%20States%20Foreign%20Policy%20194154.aspx | location = London | publisher = ] | isbn = 978-1-850-43021-6 }}
* {{Cite journal | last = Pratt | first = Joseph A. | year = 2012 | title = Exxon and the Control of Oil | journal = ] | volume = 99 | number = 1 | pages = 145–154 | doi=10.1093/jahist/jas149| doi-access = free }}
{{Refend}}


==External links== ==External links==
{{Commons category|ExxonMobil}} {{Commons category|ExxonMobil}}
{{Wikiquote|ExxonMobil}}
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Latest revision as of 03:06, 26 December 2024

American multinational oil and gas company

"Exxon" redirects here. Not to be confused with Exon.

Exxon Mobil Corporation
Floating cube at ExxonMobil headquarters in Spring, Texas
Formerly
  • Standard Oil Company (New Jersey) (1882–1973)
  • Exxon Corporation (1973–1999)
Company typePublic
Traded as
ISINUS30231G1022
IndustryEnergy
Predecessor
FoundedAugust 5, 1882; 142 years ago (1882-08-05)
FoundersLucio Noto
Lee Raymond
HeadquartersSpring, Texas, U.S.
Area servedWorldwide
Key peopleDarren Woods (chairman & CEO)
Products
Brands
RevenueDecrease US$344.6 billion (2023)
Operating incomeDecrease US$52.78 billion (2023)
Net incomeDecrease US$36.01 billion (2023)
Total assetsIncrease US$376.3 billion (2023)
Total equityIncrease US$204.8 billion (2023)
Number of employees61,500 (2023)
ParentStandard Oil (1882–1911)
Subsidiaries
Websitecorporate.exxonmobil.com

ExxonMobil Corporation (/ˌɛksɒnˈmoʊbəl/ 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 by revenue in the U.S. and 13th-largest in the world. It is 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 and itself 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.

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.

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. Following the merger, Exxon's NYSE ticker symbol was changed from "XON" to "XOM".

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.

ExxonMobil in Guyana crude oil drills map image offshore regions, Guyana exports around 500,000 barrels per day in offshore regions.

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.

  • Upstream (oil exploration, extraction, shipping, and wholesale operations)
  • Product Solutions (downstream, chemical)
  • Low Carbon Solutions

Upstream

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 km) in the United States, of which 1.7 million acres (6,900 km) were offshore, 1.5 million acres (6,100 km) 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 km), including 1 million acres (4,000 km) offshore and 0.7 million acres (2,800 km) of the Kearl Oil Sands Project.

In Argentina, ExxonMobil holds 0.9 million acres (3,600 km) and 4.9 million acres (20,000 km) in Germany. In the Netherlands ExxonMobil owns 1.5 million acres (6,100 km), in Norway it owns 0.4 million acres (1,600 km) offshore, and the United Kingdom 0.6 million acres (2,400 km) offshore. In Africa, upstream operations are concentrated in Angola, where it owns 0.4 million acres (1,600 km) offshore, Chad where it owns 46,000 acres (19,000 ha), Equatorial Guinea, where it owns 0.1 million acres (400 km) offshore, and Nigeria, where it owns 0.8 million acres (3,200 km) 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.

In Asia, it holds 9,000 acres (3,600 ha) in Azerbaijan, 1.7 million acres (6,900 km) in Indonesia, of which 1.3 million acres (5,300 km) are offshore, 0.7 million acres (2,800 km) in Iraq, 0.3 million acres (1,200 km) in Kazakhstan, 0.2 million acres (810 km) 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.

ExxonMobil exited the West Qurna 1 oilfield in January 2024, officially ending all energy sector operations in Iraq. The share is now owned by PetroChina and Pertamina.

In March 2024, ExxonMobil discovered oil at the Stabroek block off the coast of Guyana using a drillship. By the end of 2027, it plans to have 6 FPSOs at the block. Oil was discovered off the coast of Angola in May 2024 in a well drilled from February to April in the Kizomba B development area.

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 km) in Russia, including the East-Prinovozemelsky field. 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.

Australia operations

In Australia, ExxonMobil held 1.7 million acres (6,900 km), including 1.6 million acres (6,500 km) offshore. It also operates the Longford Gas Conditioning Plant, and participates in the development of Gorgon LNG project.

Papua New Guinea operations

In Papua New Guinea, it holds 1.1 million acres (4,500 km), including the PNG Gas project.

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.

On Oct. 1 2024, Nigeria approved the $1.28 billion sale of Exxon Mobil's onshore assets to Seplat Energy, more than two years after the deal was first agreed upon in February 2022

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.

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.

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

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.

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. 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.

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. ExxonMobil is currently in partnerships with Oracle Red Bull Racing in Formula One and Kalitta Motorsports.

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 States 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.

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. The company completed a 250,000 barrels per day expansion at its Beaumont, Texas, refinery in early 2023.

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. 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.

As of 2023, the company was 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.

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. In July 2023, Exxon agreed to acquire Denbury Resources for $4.9 billion to further its low-carbon efforts. In July 2024, ExxonMobil and CF Industries signed a CCS agreement that will allow ExxonMobil to transport and permanently store 500,000 tonnes of CO2 per year starting in 2028.

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.

Lithium mining

In November 2023 ExxonMobil started drilling for lithium in the US State of Arkansas. In June 2024, a preliminary agreement to supply lithium to SK for the manufacture of lithium-ion batteries that will power electric vehicles was signed.

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 and impact on global warming. In 2018, the Political Economy Research Institute ranks ExxonMobil tenth among American corporations emitting airborne pollutants, thirteenth by emitting greenhouse gases. A 2017 report places ExxonMobil as the fifth largest contributor to greenhouse gas emissions from 1988 to 2015. As of 2005, ExxonMobil had committed less than 1% of their profits towards researching alternative energy, which, according to the advocacy organization Ceres, is less than other leading oil companies. 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. 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. Additionally, since 1965, ExxonMobil has released more than 40 billion tons of carbon dioxide pollution.

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."

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.

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.

In the United States, as of 2024, dozens of states and localities have sued ExxonMobil on the base of its climate change denial.

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, 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.

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, a 2011 oil spill which leaked 1,500 barrels of oil into the Yellowstone River (resulting in about $135 million in damages), 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. 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.

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), 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. On September 23, 2024, California Attorney General Rob Bonta filed a lawsuit in San Francisco County Superior Court against ExxonMobil on behalf of the state of California, alleging that the company carried out a "decades-long campaign of deception" and misled the public on the merits of plastic recycling; in response ExxonMobil said that California has an ineffective recycling system that officials have known about for decades.

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. 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". 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.

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, including sexual assault, battery and unlawful detention. ExxonMobil eventually pulled out from Indonesia completely in 2001, while denying any wrongdoing. Exxon attempted to have the case dismissed nine times, dragging the lawsuit out for over 20 years. In July 2022, a US District Court denied ExxonMobil's motions to dismiss the case, clearing the way for the lawsuit to go to trial, although no trial date was set. In 2023, ExxonMobile settled the case a week before trial.

Other controversies

War profiteering allegations

During a 2022 surge in profits among ExxonMobil and other large oil companies, partly due to the war in Ukraine, 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". 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.

Exposure to benzene

In May 2024, a Pennsylvania jury found ExxonMobil liable for negligently failing to warn about the health risks of benzene, which is classified by the US Environmental Protection Agency as a known carcinogen, and ordered the company to pay $725.5 million in compensatory damages to a former mechanic, Paul Gill, who claimed that his cancer was caused by exposure to benzene in ExxonMobil's petroleum products while working at a Mobil gas station between 1975 and 1980.

Corporate affairs

Big Oil companies
Company Revenue (USD) Profit (USD) Brands
ExxonMobil $286 billion $23 billion Mobil
Esso
Imperial Oil
Shell plc $273 billion $20 billion Jiffy Lube
Pennzoil
Z Energy
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
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. 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.

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

As per Fortune 500 Global list, ExxonMobil has been ranked #7 company in the World.

Year Revenue
(US$ bn)
Net income/
loss
(US$ bn)
Total assets
(US$ bn)
Price per share
(US$)
Employees
2008 477 45.2 228 82.68 79,900
2009 310 19.2 233 70.95 80,700
2010 383 30.4 302 64.99 83,600
2011 486 41,0 331 79.71 82,100
2012 480 44.8 333 86.53 76,900
2013 438 32.5 346 90.50 75,000
2014 411 32.5 349 97.27 75,300
2015 249 16.1 336 82.82 73,500
2016 208 7.8 330 86.22 71,100
2017 244 19.7 348 81.86 69,600
2018 290 20.8 346 79.96 71,000
2019 264 14.3 362 73.73 74,900
2020 181 −22.4 332 44.52 72,000
2021 285 23.0 338 57.96 63,000
2022 413 55.7 369 110.30 62,300
2023 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 the Spring, Texas area, a suburb of Houston. The ExxonMobil campus has a Spring post office address, and is adjacent to, but not in, the Spring census-designated place. Paul Takahashi of the Houston Chronicle described the headquarters as being in Spring.

The headquarters was previously in Irving. 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. The decision came in 2022. The new operation complex includes twenty office buildings totaling 3,000,000 square feet (280,000 m), a wellness center, laboratory, and three parking garages. 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.

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

Hooley is presently the lead independent director, having succeeded former Merck CEO Kenneth Frazier upon his retirement in May 2022. 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.

Key executives

ExxonMobil's key executives are:

  • Darren Woods, chairman and CEO
  • Neil Chapman, Senior Vice President
  • Kathryn Mikells, CFO and Senior Vice President
  • Jack Williams, Senior Vice President
  • James Spellings, General Tax Counsel and Vice President

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 as ExxonMobil Corporation. 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.

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