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]'''Exxon Mobil Corporation''' (]: '''Esso''') is an ] ], formed in ], by the merger of Exxon and ]. |
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Exxon and Mobil were both formed in ] as components of one company, ]'s ] Trust. Two refining and marketing organizations -- Standard Oil Co. of New Jersey (commonly known as "Jersey Standard") and Standard Oil Co. of New York (known as "Socony") were the chief predecessor companies of Exxon (originally known as ESSO) and Mobil, respectively. |
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In ], the ] ordered the dissolution of the Standard Oil Trust, resulting in the spin-off of Jersey Standard and Socony (along with 32 other companies). 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 ]. |
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Over the next decade, both companies grew significantly. Jersey Standard acquired a 50 percent interest in Humble Oil & Refining Co., a ] oil producer. Socony purchased a 45 percent interest in Magnolia Petroleum Co., a major refiner, marketer and pipeline transporter. In ], Socony merged with Vacuum Oil Co., an industry pioneer dating back to ] and a growing Standard Oil spin-off in its own right. |
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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 ], 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 ]. |
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Mobil Chemical Company was established in ]. As of ] 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 became a worldwide organization in ] and in ] was a major producer and marketer of olefins, aromatics, polyethylene and ] along with specialty 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. |
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In ] Socony-Vacuum became Socony Mobil Oil Co. and in ] simply Mobil Oil Corp. A decade later, the newly incorporated Mobil Corporation absorbed Mobil Oil as a wholly owned subsidiary. Jersey Standard changed its name to Exxon Corporation in ] 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. |
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On ] ], shortly after midnight, the oil tanker ] struck Bligh Reef in ], ], spilling more than 11 million gallons of crude oil. The spill was the largest in U.S. history, and in the aftermath of the Exxon Valdez incident ] passed the ]. |
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In ], Exxon and Mobil signed a definitive agreement to merge and form a new company called Exxon Mobil Corporation. After ] and regulatory approvals, the merger was completed ] ]. |
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See also: ] |
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