Misplaced Pages

ExxonMobil: Difference between revisions

Article snapshot taken from Wikipedia with creative commons attribution-sharealike license. Give it a read and then ask your questions in the chat. We can research this topic together.
Browse history interactively← Previous editContent deleted Content addedVisualWikitext
Revision as of 17:07, 1 January 2014 editThe Devil's Advocate (talk | contribs)19,695 edits Reverted 1 edit by 199.101.177.6 (talk): Fix it then, don't leave some comment in the article. (TW)← Previous edit Latest revision as of 21:39, 8 January 2025 edit undoDarkStarHarry (talk | contribs)Extended confirmed users1,586 edits Board of directors: updates board members. 
Line 1: Line 1:
{{Short description|American multinational oil and gas company}}
{{About|Exxon Mobil Corp.|subsidiaries|Exxon|and|Mobil}}
{{Use American English|date=October 2015}}
{{pp-move-indef}}
{{Redirect-distinguish|Exxon|Exon}}
{{Use mdy dates|date=April 2012}}
{{Use mdy dates|date=December 2020}}
{{Infobox company {{Infobox company
|name = Exxon Mobil Corp. | name = Exxon Mobil Corporation
|logo = ] | logo = Exxon Mobil Logo.svg
| image = Cube xom mine.png
|type = ]
| image_caption = Floating cube at ExxonMobil headquarters in ]
|traded_as = {{New York Stock Exchange|XOM}}<br />]<br />]
| former_names = {{plainlist|
|predecessor = ]<br />]
* 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)
|industry = ]
* Exxon Corporation (1973–1999)
|foundation = {{Start date|1999|11|30}}
}}
|location = ], Texas, United States
| type = ]
|area_served = Worldwide
| traded_as = {{Unbulleted list
|key_people = ]<br />(Chairman and CEO)<ref>{{cite web |url=http://www.exxonmobil.com/Corporate/about_who_mgmt.aspx |title=ExxonMobil, Our Management |accessdate=April 20, 2011 |publisher=Exxon Mobil Corp.}}</ref>
| {{NYSE|XOM}}
|products = ]s, ]s, ]s
| ] component
|revenue = {{Nowrap|{{Decrease}} US$ 453.123&nbsp;] (2012)<ref name=201210K>{{Cite report | url=http://services.corporate-ir.net/SEC/Document.Service?id=P3VybD1hSFIwY0RvdkwyRndhUzUwWlc1cmQybDZZWEprTG1OdmJTOWtiM2R1Ykc5aFpDNXdhSEEvWVdOMGFXOXVQVkJFUmlacGNHRm5aVDA0TnpVM05ERTFKbk4xWW5OcFpEMDFOdz09JnR5cGU9MiZmbj1FeHhvbk1vYmlsQ29ycG9yYXRpb25fMTBLXzIwMTMwMjI3LnBkZg== | title=2012 10-K Annual Report | publisher=Exxon Mobil}}</ref>}}
| ] component
|operating_income = {{decrease}} US$ {{0|0}}57.543&nbsp;billion (2012)<ref name=201210K />
}}
|net_income = {{Increase}} US$ {{0|0}}44.88&nbsp;billion (2012)<ref name=201210K />
| ISIN = {{ISIN|sl=n|pl=y|US30231G1022}}
|assets = {{Increase}} US$ 333.795&nbsp;billion (2012)<ref name=201210K />
| industry = ]
|equity = {{Increase}} US$ 165.863&nbsp;billion (2012)<ref name=201210K />
| parent = ] (1882–1911)
|num_employees = 76,900 (2012)<ref name=10KA>{{cite web |url=http://www.sec.gov/Archives/edgar/data/34088/000119312511050134/d10ka.htm |title=2010 Form 10-K/A, Exxon Mobil Corp. |date=February 28, 2011 |publisher=United States Securities and Exchange Commission}}</ref>
| predecessor = {{Unbulleted list
|subsid = ], ], ], ], ], ] <small>(69,6%)</small>, ], ], ], ], ], ]
| ]
|homepage = {{URL|http://www.exxonmobil.com/|ExxonMobil.com}}
| ]
}}
| 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%).
'''Exxon Mobil Corp.''', or '''ExxonMobil''', is an American ] ] corporation headquartered in ], ], United States. 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=November 20, 2007 |publisher=Exxon Mobil Corp.}}</ref> and was formed on November 30, 1999, by the merger of ] and ] (formerly Standard Oil of New Jersey and Standard Oil of New York). It is affiliated with ] which operates in Canada. The company's largest shareholder is the ].<ref>{{cite web |url=http://www.marketwatch.com/story/billionaire-david-hardings-top-stock-picks-2013-08-09?link=MW_latest_news|title=Billionaire David Harding's top stock picks |accessdate=August 13, 2013 |work=Marketwatch}}</ref>


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>
The ], ExxonMobil is also the ].<ref></ref><ref name="forbes2000">{{cite news | url=http://www.forbes.com/global2000/ | title=Forbes Global 2000 | work=Forbes}}</ref> The company was ranked No. 5 globally in ] list in 2013.<ref></ref> ExxonMobil's reserves were 72&nbsp;billion BOE (]) at the end of 2007 and, at then (2007) rates of production, were expected to last more than 14 years.<ref>{{cite news | url=http://findarticles.com/p/articles/mi_m0EIN/is_2008_Feb_15/ai_n24264728 | title=Exxon Mobil Corp. Announces 2007 Reserves Replacement | work=Findarticles.com | date=February 15, 2008 | accessdate=July 11, 2011}}</ref> With 37 ] in 21 countries constituting a combined daily refining capacity of {{convert|6.3|Moilbbl|m3}}, ExxonMobil is the largest refiner in the world,<ref>{{cite web |url=http://www.exxonmobil.com/Corporate/about_what_refining.aspx |title=ExxonMobil – Refining and supply |accessdate=August 9, 2010 |publisher=Exxon Mobil Corp.}}</ref><ref>{{cite web |url=http://www.exxonmobil.com/Corporate/about_who_profile.aspx |title=Exxon Mobil – Company profile |accessdate=August 9, 2010 |publisher=Exxon Mobil Corp.}}</ref> a title that was also associated with Standard Oil since its incorporation in 1870.<ref>{{cite web |url=http://www.exxonmobil.com/Corporate/history/about_who_history.aspx |title=ExxonMobil – Our history |accessdate=January 30, 2009 |publisher=Exxon Mobil Corp.}}</ref>


{{Anchor|history}}
ExxonMobil is the largest of the world's ]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=April 21, 2008 |work=Financial Times}}</ref> with daily production of 3.921&nbsp;million BOE. In 2008, this was approximately 3 percent of world production, which is less than 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=April 21, 2008 |work=Financial Times}}</ref> When ranked by oil and gas reserves, it is 14th in the world—with less than 1 percent of the total.<ref>{{cite news
|url=http://www.forbes.com/forbes/2007/0416/033.html
|title=Will We Rid Ourselves of This Pollution?
|accessdate=April 22, 2008
| work=Forbes
|date=April 16, 2007
}}</ref><ref>{{cite web|url=http://tonto.eia.doe.gov/ftproot/presentations/hrt310/hrt310.html |title=EIA – Statement of Jay Hakes |publisher=Tonto.eia.doe.gov |date=March 10, 1999 |accessdate=July 11, 2011}}</ref>


==History==
ExxonMobil has been subject to numerous criticisms, including the lack of speed during its cleanup efforts after the 1989 ] in Alaska, widely considered the number one spill worldwide in terms of damage to the environment. ExxonMobil has drawn criticism for funding organizations that are skeptical of the ] that ] is caused by the burning of ]s. Questions have been raised about the legality of the company’s foreign business practices. Critics note that ExxonMobil increasingly drills in terrains leased by dictatorships. The company has also has been the target of accusations of improperly dealing with human rights issues, influence on American foreign policy, and its impact on the future of nations.
{{Main|History of ExxonMobil}}
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".
==Organization==
ExxonMobil markets products around the world under the brands of ], ], and ]. It also owns hundreds of smaller subsidiaries such as ] (69.6 percent ownership) in Canada, and ], a petroleum shipping company.


==Operations==
The upstream division dominates the company's cashflow, accounting for approximately 70 percent 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.
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>
[[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)
===Operating divisions===
* Product Solutions (], chemical)
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.
* 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>


===Upstream===
]
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>
* ] (oil exploration, extraction, shipping, and wholesale operations) based in ], Texas
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" />
* ] (marketing, refining, and retail operations) based in ]
* Chemical division based in ], Texas


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
Operating divisions by category are as follows:
| url = http://uk.reuters.com/article/liberia-oil-idUKL8N1376WU20151113
| title = Exxon Mobil to drill offshore post-Ebola Liberia
| first = Alphonso
| last = Toweh
| work = Reuters
| date = November 13, 2015
| 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" />
* Upstream
** ExxonMobil Exploration Co.
** ExxonMobil Development Co.
** ExxonMobil Production Co.
** ExxonMobil Gas and Power Marketing Co.
** ExxonMobil Upstream Research Co.
** ExxonMobil Upstream Ventures
** U.S. Production


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>


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>
* Downstream
** ExxonMobil Refining and Supply Co.
** ]
** ExxonMobil Fuels, Lubricants & Specialties Marketing Company <ref name="F,L&S Marketing Company">, Exxon Mobil Corp.</ref>
** ExxonMobil Research and Engineering Co.
** International Marine Transportation


====Russia operations====
* Chemical
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 Chemical Co.


==== Australia operations ====
* ExxonMobil Global Services Co.
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.
** ExxonMobil Information Technology
** Global Real Estate and Facilities
** Procurement
** Business Support Centers


==== Papua New Guinea operations ====
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 ===
* ]
]]]
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>
*Infineum


==== Downstream and Retail ====
*]
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 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>
==History==
], ExxonMobil offices in ]]]
Exxon Mobil Corp. 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.


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>
By 1911, with ] at a climax, the ] ] 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 Co. of New York"), which eventually became Mobil.<ref>] (2009). Historical Dictionary of the Petroleum Industry. Lanham, MD: Scarecrow Press. ISBN 0-8108-5993-9.</ref>


==== Chemicals ====
In the same year, the nation's ] output was eclipsed for the first time by gasoline. The growing ] market inspired the product trademark Mobiloil, registered by Socony in 1920.
]
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 ====
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 Texas 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.
{{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 ====
In the Asia-Pacific 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 East Africa to New Zealand, before it was dissolved in 1962.
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>
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 Co. (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.


{{Anchor|low carbon}}
In 1955, Socony-Vacuum became Socony Mobil Oil Co. and, in 1966, simply Mobil Oil Corp. A decade later, the newly incorporated Mobil Corp. absorbed Mobil Oil as a ]. Jersey Standard changed its name to Exxon Corp. in 1972 and established Exxon as a trademark throughout the United States. In other parts of the world, Exxon and its affiliated companies continued to use its Esso trademark.


===Low Carbon Solutions===
On March 24, 1989, the ] ] struck ] in ], ] and spilled more than {{convert|11|e6USgal|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&nbsp;billion USD ] was reduced to $507.5&nbsp;million by the US Supreme Court in June 2008, and distributions of this award have commenced.
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>


{{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>
In 1998, Exxon and Mobil signed a US$73.7&nbsp;billion definitive agreement to merge and form a new company called Exxon Mobil Corp., 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 Co. of New Jersey/Exxon and Standard Oil Co. 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.


==== Carbon capture and storage ====
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 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>


==== Low-carbon energy projects ====
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&nbsp;billion in annual income, up 42 percent from the previous year (the overall annual income was an all-time record for annual income by any business, and included $10&nbsp;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>{{cite news| url=http://www.nytimes.com/2006/01/31/business/31exxon.html?_r=2&oref=slogin&oref=slogin | work=The New York Times | title=At ExxonMobil, a Record Profit but No Fanfare | first1=Simon | last1=Romero | first2=Edmund L. | last2=Andrews | date=January 31, 2006 | accessdate=May 2, 2010}}</ref><ref>{{cite news| url=http://news.bbc.co.uk/2/hi/business/4662474.stm |work=BBC News | title=Exxon profits surge to new record | date=January 30, 2006 | accessdate=May 2, 2010}}</ref>
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,
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>


==== Lithium mining ====
On June 12, 2008, ExxonMobil announced that it was transitioning out of the direct-served retail market, citing the increasing difficulty of running ] under rising ] costs. The multi-year process will gradually phase the corporation out of the direct-served retail market, and will affect 820 company-owned stations and approximately 1,400 other stations operated by dealers distributing across the United States. The sale has not resulted in the disappearance of ] and ] branded stations; the new owners will continue to sell Exxon and Mobil-branded gasoline and license the appropriate names from ExxonMobil, who will in turn be compensated for use of the brands.<ref name="Erman">{{cite news |last=Erman | url=http://www.reuters.com/article/2008/06/12/us-exxon-idUSN1238193020080612 | title=Exxon to exit U.S. retail gas business | work=] | date=June 12, 2008 | accessdate=30 September 2012 | first=Michael}}</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 ==
In 2010, ExxonMobil bought ], the company focused on development and production of unconventional resources.<ref name="upstream2">{{cite news | url=http://www.upstreamonline.com/live/article218921.ece | title=ExxonMobil and XTO complete merger | publisher=NHST Media Group | work=] | date=June 25, 2010 | accessdate=June 27, 2010}}</ref>
{{Main|Criticism of ExxonMobil}}
] protestors demonstrating against ExxonMobil]]


=== Climate change denial ===
In terms of potential future developments, many gas and oil companies are considering the economic and environmental benefits of ] (FLNG). This is an innovative technology designed to enable the development of offshore gas resources that would otherwise remain untapped, because environmental or economic factors make it unviable to develop them via a land-based LNG operation. ExxonMobil is waiting for an appropriate project to launch its FLNG development,<ref>{{cite web|author=Anthony Guegel &nbsp;May 3, 2011 20:27 GMT |url=http://www.upstreamonline.com/live/article254823.ece |title=ExxonMobil in icy innovation |publisher=Upstream Online |date=May 3, 2011 |accessdate=July 11, 2011}}</ref> and the only FLNG facility currently in development is being built by Shell,<ref>{{cite web|last=Forster |first=Christine |url=http://www.platts.com/weblog/oilblog/2011/03/31/shell_australia.html |title=Shell Australia upbeat on Prelude LNG; focus now turns to Timor – The Barrel |publisher=Platts.com |date=March 31, 2011 |accessdate=July 11, 2011}}</ref> due for completion in around 2017.<ref>{{cite web|url=http://www.ft.com/cms/s/0/9ccaed4a-82ba-11e0-b97c-00144feabdc0.html#axzz1NADgzzOH |title=/ Companies / Oil & Gas – Shell’s floating LNG plant given green light |work=Financial Times |date=May 20, 2011 |accessdate=July 11, 2011}}</ref>
{{Further|ExxonMobil climate change denial}}


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>
In 2012, ExxonMobil confirmed a deal for production and exploration activities in the Kurdistan region of Iraq.<ref>{{cite web|url=http://online.wsj.com/article/SB10001424052970204653604577249302222937644.html?KEYWORDS=Exxon+Mobil+Corp |title=Exxon Confirms Deals With Iraqi Kurds |work=The Wall Street Journal |date=February 27, 2012 |accessdate=March 8, 2012}}</ref>


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>
In 2013, Exxon's CEO Rex Tillerson was quoted "Exxon is starting work with Russia's OAO Rosneft in assessing what could be massive reserves of shale oil in Western Siberia", "There is huge shale potential in shale rocks in West Siberia...we just don't know what the quality is".<ref>http://www.1derrick.com/wsj-exxon-sees-big-shale-oil-potential-in-siberia/481/|title=Exxon shows interest in Siberia|</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>
In November 2013, Exxon agreed to sell its majority stakes in a ]-based utility and power storage firm, Castle Peak Co Ltd, for a total of $3.4 billion, to ].<ref>{{cite news| url=http://www.reuters.com/article/2013/11/19/us-clp-exxon-idUSBRE9AI04X20131119| title=Exxon to sell Hong Kong power operations for $3.4 billion | author=Denny Thomas and Charlie Zhu | publisher=Reuters | date=19 November 2013}}</ref>


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>
== Merger ==


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" />
=== Pre-deal events ===
]
On June 16, 1998, Mr. ], Exxon's CEO, met with Mr. Lucio A. Noto, Mobil's CEO, at Mobil's headquarters in Fairfax, Virginia. At the meeting, Mr. Raymond and Mr. Noto had preliminary discussions about the possibility of a combination of the two companies. Later management continued discussions and permanently informed the Boards.<ref name="Proxy">{{cite web|title=ExxonMobil Joint Proxy statement in S-4 SEC Filing (Apr 5, 1999)|url=http://sec.edgar-online.com/exxon-mobil-corp/s-4-securities-registration-business-combination/1999/04/05/section3.aspx|publisher=U.S. Securities and Exchange Commission|accessdate=February 25, 2012}}</ref>


=== Oil spills and plastic pollution ===
On August 11, 1998, The British Petroleum Co. PLC and Amoco Corp. announced the terms of their merger agreement. Shortly thereafter, Mr. Raymond and Mr. Noto resumed their discussions taking into account this new pricing benchmark. In mid-August 1998, the management of Mobil asked ] to undertake an analysis of strategic alternatives available to Mobil. On September 14, Goldman Sachs presented to the Mobil Board its analyses regarding the various possible transactions, including a possible merger with Exxon.<ref name="Proxy"/>
] 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>
At a meeting on October 19, 1998 at Exxon's headquarters attended by Messrs. Raymond, Matthews, Noto and Gillespie, the parties reviewed the possible relative ownership ranges and expanded the discussions to include such issues as the representation of current Mobil directors on the board of the combined company.<ref name="Proxy"/>


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>
During November 1998, Exxon and Mobil exchanged ] request lists and representatives and their advisors participated in a video conference and numerous telephone calls and meetings to conduct reciprocal legal, business, accounting and financial due diligence. A reciprocal confidentiality agreement was entered into on November 12.<ref name="Proxy"/>


=== Geopolitical influence and human rights violations ===
On November 26, 1998, Mr. Noto and Mr. Raymond spoke by telephone to discuss reports that had appeared in the media about a possible transaction between Exxon and Mobil. On November 27, prior to the opening of ] trading, Exxon and Mobil issued a joint statement confirming that the two companies were in discussions of a possible business combination.<ref name="Proxy"/>
{{See also|Conflict in the Niger Delta}}
] as Secretary of State, with Saudi Crown Prince ], May 2017]]
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>


==== Indonesia ====
Over the course of the weekend of November 27, 1998, Exxon and Mobil representatives and outside counsel continued discussions towards resolving open issues. On the evening of November 30, Messrs. Raymond and Noto reached agreement in principle, subject to Board approval, on the exchange ratio and the resulting exercise price in the stock option agreement.<ref name="Proxy"/>
{{Main|Accusations of ExxonMobil human rights violations in Aceh}}

Following the approval of their Boards, Exxon and Mobil officially signed an agreement and plan of merger on December 1, 1998. Shareholders of both Exxon and Mobil approved the merger in May 1999. In September 29 of that year the ] granted antitrust approval. In November 30, 1999, the historic merger was completed. Mobil became a wholly owned subsidiary of Exxon. The combined company changed its name to Exxon Mobil Corp.<ref name="Proxy"/>
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>
<center>'''Exxon-Mobil pre-merger events'''</center><ref name="Proxy"/><ref>{{cite web|title=Hearing before the subcommittee on antitrust, business rights, and competition, March 22, 2000, Serial No. J-106-71|url=http://ftp.resource.org/gpo.gov/hearings/106s/72736.txt|publisher=Antitrust, Competition Policy and Consumer Rights Subcommittee|accessdate=February 25, 2012}}</ref>

{| class="wikitable"
===Other controversies===

==== War profiteering allegations ====
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>

==== Exposure to benzene ====
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>

==Corporate affairs==
{{Big Oil}}

===Business trends===
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" />

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>

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>

{| class="wikitable float-left" style="text-align: right;"
|- |-
!Year
! '''Date''' !! '''Event''' !! '''Description''' !! '''Type'''
!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>
| 06/16/98 || CEOs’ meeting || Preliminary discussions about the possibility of the merger || Private
|477
|45.2
|228
|82.68
|79,900
|- |-
|2009<ref name=":0" />
| 08/11/98 || BP-Amoco merger || Companies announced the terms of their merger agreement || Public
|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>
| 08/15/98 || Mobil hires Goldman Sachs || Mobil asked Goldman Sachs to undertake an analysis of strategic alternatives available to Mobil. Merger with Exxon presented as one of the main options || Private
|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>
| 10/19/98 || CEOs’ meeting || Parties reviewed the possible relative ownership ranges and expanded the discussions to include such issues as the representation of current Mobil directors on the board of the combined company || Private
|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>
| Nov. 1998 || Due diligence || Exchanged due diligence request lists and representatives. Conducted reciprocal legal, business, accounting and financial due diligence || Private
|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>
| 11/26/98 || CEOs’ phone discussion || CEOs spoke by telephone to discuss reports in the media about a possible transaction between Exxon and Mobil || Private
|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>
| 11/27/98 || Joint statement || Exxon and Mobil issued a joint statement confirming that the two companies were in discussions of a possible merger || Public
|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>
| 12/01/98 || Official merger agreement || Following the approval of their Boards, Exxon and Mobil officially signed an agreement and plan of merger || Public
|249
|16.1
|336
|82.82
|73,500
|- |-
|2016<ref name=":1" />
| 04/19/99 || FTC approval of BP-Amoco merger and Shell-Texaco merger || FTC granted approvals for two large oil industry mergers BP-Amoco and Shell-Texaco with divestitures and other relief to preserve competition || Public
|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>
| 05/27/99 || Shareholders’ approval || Shareholders of both Exxon and Mobil approved the merger. More than 99 percent of the shares in Exxon were voted in favor of the deal, as were 98.2 percent of Mobil shares || Public
|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>
| 09/29/99 || EU Commission approval || European Commission granted an antitrust approval with requirement of divestitures and breakup of BP Amoco/Mobil joint venture || Public
|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>
| 11/30/99 || FTC approval and merger completion || FTC accepted an antitrust settlement with large retail divestiture. Merger completed. Mobil became a wholly owned subsidiary of Exxon || Public
|} |264
|14.3

|362
]
|73.73
]
|74,900
The event analysis is very limited because there was no bidding process. The only important public information was merger announcement (December 1, 1998). 10-day ] (CAR) before this date was +14 percent for Mobil and +0.4 percent for Exxon. The main spike in share prices appeared during November 25 – 30 and negative returns were on the announcement day, i.e. rumors in the media influenced the pricing. Total 20-day CAR (10 days before plus 10 days after the announcement) amounted +19.5 percent for Mobil and +1.07 percent for Exxon.

Market was very positive on Exxon and Mobil on April 19 and 21, 1999 when FTC approved other two big oil mergers – BP-Amoco and Shell-Texaco. 3-day CAR reached 5.3 percent for Exxon and 6.8 percent for Mobil. Market also positively reacted on EU Commission approval: 3-day CAR was +2.2 percent for Mobil and +2.4 percent for Exxon. All these signaled that market positively assessed the merger as economically sound and value creating.

=== Regulators approval ===
On September 29, 1999 EU Commission granted its approval of the merger with requirement of vast divestitures and breakup of the European refining and marketing joint venture of BP Amoco and Mobil. Mobil wanted to maintain its relationship with BP Amoco, but EC officials feared that the recent rash of mega mergers could kill off downstream competition in member countries. Mobil was also ordered to sell its share in a large chain of gasoline stations (Aral).<ref>{{cite web|title=Case IV/M.1383 – Exxon/Mobil, EU Commission decision|url=URL: http://ec.europa.eu/competition/mergers/cases/decisions/m1383_en.pdf|publisher=EU Commission|accessdate=February 25, 2012}}</ref> Exxon and Mobil sold part of their lubricant base oil manufacturing capacity.

BP Amoco bought Mobil's 30 percent interest in their R&M JV for $1.65 billion, about the value of the assets that Mobil contributed when the deal was established. Mobil also got around $1.08 billion for its interest in Aral.<ref>{{cite journal|last=Crow|first=P|title=Exxon-Mobil merger wins approval in EU|journal=Oil & Gas Journal|year=1999|month=October|volume=97|issue=43|pages=24}}</ref>

The US FTC announced on November 30, 1999 that it accepted a proposed settlement of charges that Exxon Corp’s acquisition of Mobil Corp would violate federal antitrust laws. The settlement required the largest retail divestiture in Commission history – the sale or assignment of approximately 2,431 Exxon and Mobil gas stations in the Northeast and Mid-Atlantic (1,740), California (360), Texas (319) and Guam (12). In addition, an Exxon refinery in California; terminals; a pipeline and other assets were also subject for sale.<ref>{{cite web|title=FTC File No. 9910077, November 30, 1998|url=http://www.ftc.gov/opa/1999/11/exxonmobil.shtm|publisher=Federal Trade Commission|accessdate=February 25, 2012}}</ref>
]

=== Ratios overview ===

]
Exxon had better ] (6.75 percent) and ] (14.57 percent) ratios (Mobil’s were 3.95 percent and 9.01 percent correspondingly). This situation represented Exxon’s better efficiency at using investment funds (]) to generate earnings growth. Exxon was more stable and effective in using its assets, while Mobil was more volatile and risky. During 1983–1999 Exxon was superior with the exception of 1989, when tanker ] happened and cut profits of the company.

Companies had equal ] (38.7 percent vs. 38.52 percent), but Exxon had higher ] (7.9 percent) and ] (5.4 percent) ratios than Mobil (6.56 percent and 3.18 percent correspondingly) which means that Exxon was better in cost-cutting and controlling its expenses. But in some cases low operating expenses can damage long-term profitability and competitiveness of the company.
] show that both companies were financially stable, but Exxon was in a better situation than Mobil. The Exxon’s ] and ]s (0.57 and 0.91 correspondingly) were higher than the Mobil’s (0.48 and 0.67 correspondingly) and merged company had significantly improved these results. Ratio of net current assets as a percent of total assets (i.e. ] to total assets) was distorted after the merger (1.48) probably due to large ]s that followed the deal.
] status of companies also looked good. Though Exxon again showed its financial supremacy with much higher ] (93.41 compared to Mobil’s 7.78) Generally speaking the better interest coverage ratio means less risk but also might be bad for future performance because of the failure of the management to use additional funds for development. Debt to equity ratio was safe and stable in both companies.

Combined company showed even superior results after the merger, which proved the correlation between positive market reaction on the announcement event and success of the merger.

=== Deal structure ===
Under the merger agreement, an Exxon subsidiary would merge into Mobil so that Mobil becomes a wholly owned subsidiary of ExxonMobil. As a result, Exxon would hold 100 percent of Mobil’s issued and ]. Holders of Mobil common stock would receive 1.32015 shares of Exxon common stock for each share of Mobil common stock.<ref name="Proxy"/>
]
5 days before the announcement Exxon shares price was $72 and 2,431 million shares outstanding ($175 billion market value) compared with $75.25 a share and 779.8 million shares outstanding for Mobil ($58.7 billion market value). With the exchange ratio 1.32015, Exxon paid 1,029.4 million of its shares for Mobil or $74.1 billion. This was a $15.4 billion (26.2 percent) premium over Mobil’s market value or $94.9 a share. After the price run-up Exxon shareholders would own approximately 70 percent of the combined ExxonMobil entity, while Mobil shareholders would own approximately 30 percent. The merger qualified as a tax-free reorganization in the US, and that it was accounted for on a “” basis.<ref name="Proxy"/>

In addition, the merger agreement provided for payment of ]s of $1.5 billion. Exxon and Mobil also entered into an ] that granted Exxon the option to purchase up to 136.5 million shares (14.9 percent) of Mobil common stock at a strike price of $95.96. Exxon could exercise the option after the occurrence of an event, entitling Exxon to receive the termination fee payable by Mobil.<ref name="Proxy"/>

The termination fee and option were intended to make it more likely that the merger would be completed on the agreed terms and to discourage proposals for alternative business combinations. Among other effects, the option could prevent an alternative business combination with Mobil from being accounted for as a “pooling of interests”. Although companies introduced protection against ], they didn’t use any ] to protect shareholders. ] and ] advised Exxon, and ] and ] advised Mobil.<ref name="Proxy"/>

=== Valuation ===
J.P. Morgan performed traditional ] analysis. Such analysis indicated that Mobil had been trading at an 8 percent to 15 percent discount to Exxon. J.P. Morgan's analysis indicated that if Mobil were to be valued at price to ] comparable to those of Exxon, there would be an enhancement of value to its shareholders of approximately $11 billion.<ref name="Proxy"/>

Goldman Sachs also reviewed and compared ratios and public market multiples relating to Mobil to following six publicly traded companies:<ref name="Proxy"/>
* British Petroleum Co. PLC,
* Chevron Corp.,
* Exxon,
* Royal Dutch Petroleum Co.,
* Shell Transport & Trading Co. PLC,
* Texaco Inc.

P/E multiple for these firms ranged 19.3–23.8. The analysis showed that Mobil was undervalued 5 to 16 percent, relative to comparables with fair price $79–$89 a share. It’s needed to notice that comparables analysis couldn’t capture the synergy effect, value creation and differences.
Simple ] analysis of Mobil as a standalone company gives range of intrinsic value of $59.8–$79.5 billion or $76.7–102 per share depending on cash flow growth rate.<ref name="Proxy"/>

DCF analysis, based on the estimated pre-tax synergies of $2.8 billion expected to result from the merger, suggested a potential value creation in the short term of approximately $22–25 billion. J.P. Morgan's review suggested that over the long term, the potential for value creation from these elements could be as much as $47–57 billion. So Mobil ] for this deal was $95–$118.8 a share depending on growth rate.<ref name="Proxy"/>
]
Since Exxon's market capitalization was significantly larger than Mobil's, Exxon's shareholders would have enjoyed a greater proportion of the value creation if no premium were paid by Exxon in the merger. By offering a premium to Mobil's shareholders, this potential value creation was instead shared in approximately equal proportions between the companies' shareholders and such sharing was deemed to be a reasonable allocation of value creation. J.P. Morgan's analysis showed that for transactions involving smaller companies with a relative market capitalization comparable to that of Mobil pre-announcement, a premium of 15 percent to 25 percent matched market precedent. In comparison, BP paid 35 percent premium for Amoco.

10 days before the completion of the merger, Exxon market value was $184.5 billion ($76 a share) and Mobil – $77.1 billion ($98.5 a share). Pro forma market value of merged company was $261.6 billion. Right after the merger was completed, the share price of combined Exxon-Mobil was $80.56 with 3,461.5 million shares outstanding, which gave $278.8 billion market value or $17.2 billion of additional value created. This figure would be even higher if we consider pre-announcement pro forma combined market value of $233.7 billion. In this case created value reaches $45.1 billion.<ref name="Proxy"/>

=== Synergy ===
The motivations for the Exxon-Mobil merger reflected the industry forces. Companies needed a secure presence in the regions with high potential for oil/gas discoveries and stronger position to make large investments. The benefits of the merger fell broadly in two categories: near-term operating synergies and capital productivity improvements.<ref name="Proxy"/>

'''Near-term operating synergies.''' $2.8 billion in annual pre-tax benefits from operating ] (increases in production, sales and efficiency, decreases in unit costs and combining complementary operations). Management expected to realize the full benefits by the third year after the merger. During the first two years, the benefits should have been partly offset by one-time costs at $2 billion for business integration. The firms also planned to eliminate about 9,000 jobs. A year later, pre-tax annual savings were re-assessed and increased to $3.8 billion.<ref>{{cite web|last=Corcoran|first=G|title=Exxon-Mobil 12 Years Later: Archetype of a Successful Deal|url=http://blogs.wsj.com/deals/2010/11/30/exxon-mobil-12-years-later-archetype-of-a-successful-deal|publisher=Wall Street Journal Blogs|accessdate=February 25, 2012}}</ref>

'''Capital productivity improvements.''' Management also believed the combined company could use its capital more profitably than either company on its own. These improvements were realized due to efficiencies of scale, cost savings, and sharing of best management practices. The businesses and assets of Exxon and Mobil were highly complementary in key areas. In the exploration and production area, for example, Mobil's and Exxon's respective strengths in West Africa, the Caspian region, ], South America, and North America lined up well, with minimal overlap. The firms also had a presence in natural gas, with combined sales of about 14 bcfd. And Mobil contributed its LNG assets and experience to the venture.<ref name="Proxy"/>

There were '''technology synergies''' as well. In upstream, Exxon and Mobil owned proprietary technologies in the areas of: deepwater and arctic operations, heavy oil, gas-to-liquids processing, LNG, and high-strength steel. In downstream, their proprietary technology focused on refining and chemical catalysts. Exxon’s lube base stocks production fitted well with Mobil's leadership in lubes marketing.<ref name="Proxy"/>
Generally, the Exxon-Mobil deal was a move by the dominant partner to increase its asset base by 30 percent while raising capital productivity.

==Corporate affairs==
The current Chairman of the Board and CEO of Exxon Mobil Corp. is ]. Tillerson assumed the top position on January 1, 2006, on the retirement of long-time chairman and CEO, ].

===Board of directors===
{{As of|2009|02|05|df=US}}, the current ExxonMobil board members are:<ref name=BoardofDirector>{{cite web|url=http://www.exxonmobil.com/corporate/investor_governance_directors.aspx
|title=Exxon Mobil Corp. Board of Directors
|publisher=Exxon Mobil Corp.}}</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, ]
*], Chairman of the Board and President, ].
*Steven S Reinemund, retired Executive Chairman of the Board, ]
*], retired Chairman of the Board, ] Corp.n
*], Chairman of the Board and Chief Executive Officer, ]
*Edward E. Whitacre, retired Chairman of the Board and Chief Executive Officer, ]

==Joint ventures and other strategic alliances==
*] 70 percent Ownership in Imperial Oil

*] is a joint venture between ExxonMobil and Royal Dutch Shell for manufacturing and marketing lubricant and fuel additives.

*] is an E&P joint venture with ], operating in California.

*On August 30, 2011, ExxonMobil announced a $3.2 billion joint venture with Russian oil company ] to develop two offshore oil fields in Russia, the ] in the ] and the ] in the ].<ref>{{cite news | url=http://www.washingtonpost.com/world/exxonmobil-signs-russian-oil-pact/2011/08/30/gIQApIvypJ_story.html | title=ExxonMobil signs Russian oil pact |work=The Washington Post | date=August 30, 2011 | accessdate=September 2, 2011 | first=Ezra | last=Klein}}</ref>

*ExxonMobil ] holds a 50.02 percent stake in TonenGeneral Sekiyu K.K., but in January 2012 TonenGeneral Sekiyu KK agreed to acquire 99 percent of ExxonMobil Yūgen Kaisha for 302 billion yen ($3.9 billion). It is the biggest divesture for Exxon since the 1999 deal with ] and Exxon stake in TonenGeneral decline to 22 percent from 50 percent, but the Japanese refiner will retain exclusive rights to use its brands.<ref>{{cite web |url=http://www.businessweek.com/news/2012-01-05/exxon-in-talks-to-restructure-stake-in-japan-refining-unit.html |title=Exxon in Talks to Restructure Stake in Japan Refining Unit |date=January 5, 2012}}</ref><ref>{{cite news |url=http://www.bloomberg.com/news/2012-01-29/exxon-mobil-sells-japan-business-stake-to-tonengeneral-for-3-9-billion.html |title=TonenGeneral to Buy Exxon Japan Refining, Marketing Unit for $3.9 Billion |accessdate=January 30, 2012 | work=Bloomberg |first1=Yuji |last1=Okada |first2=Jacob |last2=Adelman |date=January 30, 2012}}</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.{{citation needed|date=September 2012}}

ExxonMobil, like other oil companies, is struggling to find new sources of oil. According to ] it replaces only 95 percent by volume of the oil it pumps. This stands in contrast to natural gas, where it replaces 158 percent by volume through purchases or finds.<ref>{{cite news | url=http://online.wsj.com/article/SB10001424052748704409004576146362117313094.html?mod=e2fb | title=Exxon Struggles to Find New Oil | work=Wall Street Journal | date=February 16, 2011 | accessdate=February 20, 2011 | author=Russell Gold and Angel Gonzalez}}</ref>

ExxonMobil is a signatory participant of the ].

==Revenue and profits==
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 | url=http://www.msnbc.msn.com/id/12131795/ | title=Exxon dethrones Wal-Mart atop Fortune 500 | work=MSNBC | date=April 3, 2006 | agency=Associated Press | accessdate=May 9, 2007}}</ref> ExxonMobil's $340&nbsp;billion revenues in 2005 were a 25.5 percent increase over their 2004 revenues.

In 2006, Wal-Mart recaptured the lead with revenues of $348.7&nbsp;billion against ExxonMobil's $335.1. ExxonMobil continued to lead the world in both profits ($39.5&nbsp;billion in 2006) and market value ($460.43&nbsp;billion).<ref name="2006WalMart">{{cite news | url=http://www.msnbc.msn.com/id/18140057/ | title=Wal-Mart returns to top of the Fortune 500 list | work=MSNBC | date=April 16, 2007 | agency=Associated Press | accessdate=May 9, 2007}}</ref>

In 2007, ExxonMobil had a record net income of $40.61&nbsp;billion on $404.552 billion of revenue, an increase largely due to escalating oil prices as their actual BOE production decreased by 1 percent, in part due to expropriation of their ]n assets by the ] government.<ref> ExxonMobil 2007 results.</ref>

As of July 1, 2010, ExxonMobil occupied eight out of 10 slots for ]. Furthermore, it occupies 5 out of 10 slots on ].<ref>{{dead link|date=July 2011}}</ref><ref>{{cite web|url=http://www.washingtontimes.com/news/2008/jul/31/top-corporate-quarterly-earnings-of-all-time/ |title=Top corporate quarterly earnings of all time |work=The Washington Times |accessdate=July 11, 2011}}</ref>

==Financial data==
{| class="wikitable"
|+ '''Financial Data in USD millions'''<ref> ExxonMobil 5 year financial overview</ref>
! Year-end
! 2005
! 2006
! 2007
! 2008
! 2009
! 2010
|- |-
|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>
| Total revenue
|181
| 358 955
|−22.4
| 365 467
|332
| 390 328
|44.52
| 459 579
|72,000
| 301 586
| 383 221
|- |-
|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>
| Net income
|285
| 36 130
|23.0
| 39 500
|338
| 40 610
|57.96
| 45 220
|63,000
| 19 280
| 30 460
|- |-
|2022{{sfn|10-K|2022}}
| Total assets
|413
| 208 335
|55.7
| 219 015
|369
| 242 082
|110.30
| 228 052
|62,300
| 233 323
|- |-
| style="text-align:left;"|2023{{sfn|10-K|2023}}
| Total debt
|344
| 7 991
|36.0
| 8 347
|376
| 9 566
|
| 9 425
|61,500
| 9 605
|} |}


===Headquarters and offices===
==Environmental record==
]. Former ExxonMobil offices in ] were vacated in early 2015.]]
ExxonMobil has been a contributor to environmental causes (the company donated $6.6&nbsp;million to environmental and social groups in 2007).<ref> </ref> Its environmental record has been a target of critics from outside organizations such as the environmental lobby group ] as well as some institutional investors who disagree with its stance on global warming.<ref>{{cite web|url=http://www.energy-daily.com/reports/Big_US_Pension_Fund_Joins_Critics_Of_ExxonMobil_Climate_Stance_999.html |title=Big US Pension Fund Joins Critics Of ExxonMobil Climate Stance |publisher=Energy-daily.com |accessdate=July 11, 2011}}</ref> The ] ranks ExxonMobil sixth among corporations emitting airborne pollutants in the United States. The ranking is based on the quantity (15.5&nbsp;million pounds in 2005) and toxicity of the emissions.<ref>{{cite web|url=http://www.peri.umass.edu/Toxic-100-Table.265.0.html |title=(PERI) THE TOXIC 100: Top Corporate Air Polluters in the United State |publisher=Peri.umass.edu |accessdate=July 11, 2011}}</ref> In 2005, ExxonMobil had committed less than 1 percent of their profits towards researching alternative energy,<ref>{{cite news|url=http://www.washingtonpost.com/wp-dyn/content/article/2008/04/01/AR2008040100157.html?hpid=topnews |title=Familiar Back and Forth With Oil Executives |work=The Washington Post |date=April 2, 2008 |accessdate=July 11, 2011 |first=Steven |last=Mufson}}</ref> less than other leading oil companies.<ref>{{cite web|url=http://www.heatisonline.org/contentserver/objecthandlers/index.cfm?ID=5946&Method=Full&PageCall=&Title=CERES%3A%20ExxonMobil%20Shareholders%20Relying%20on%20Fumes |title=ERES: ExxonMobil Shareholders Relying on Fumes |publisher=Heatisonline.org |accessdate=July 11, 2011}}</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.
===Exxon Valdez oil spill===
{{Main|Exxon Valdez oil spill}}
The March 24, 1989, ] resulted in the discharge of approximately {{convert|11|e6USgal|m3}} of oil into ],<ref name="EVOSTC_FAQ">{{cite web | url=http://www.evostc.state.ak.us/History/FAQ.htm | title=Frequently asked questions about the Exxon Valdez Oil Spill | publisher=State of Alaska's Exxon Valdez Oil Spill Trustee| accessdate=March 6, 2007}}</ref> oiling {{convert|1300|mi|km}} of the remote Alaskan coastline. The Valdez spill is 36th worst ] in history in terms of sheer volume.


===Board of directors===
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" /> Carcasses were found of over 35,000 birds and 1,000 sea otters. Because carcasses typically sink to the seafloor, it’s estimated the death toll may be 250,000 ], 2,800 ], 300 ], 250 ], and up to 22 ]. Billions of ] and ] were also killed.<ref></ref>
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>


{{As of|2025|1|8|df=US}}, the current ExxonMobil board members are:<ref name="BoardofDirector">{{cite web
Oil remains on or under more than half the sound’s beaches, according to a 2001 federal survey. The government-created Exxon Valdez Oil Spill Trustee Council concluded that the oil disappears at less than 4 percent per year, adding that the oil will “take decades and possibly centuries to disappear entirely”. Of the 27 species monitored by the Council, 17 have not recovered. While the salmon population has rebounded, and the killer whales are recovering, the herring population and fishing industry have not.<ref></ref><ref></ref><ref></ref>
|url=https://corporate.exxonmobil.com/About-us/Who-we-are/Corporate-governance/ExxonMobil-board-of-directors#exxonMobilCorporationBoardOfDirectors
|title=Exxon Mobil Corp. Board of Directors
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>{{cite web|url=http://www.mallenbaker.net/csr/CSRfiles/crisis03.html |title=CSR case studies in crisis management – ExxonMobil and Exxon Valdez |publisher=Mallenbaker.net |accessdate=July 11, 2011}}</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>]. "Even Renamed, Exxon Valdez can't Outlive Stain on its Past." October 15, 2002.</ref>
|publisher=Exxon Mobil Corp.

|access-date=January 8, 2025
After a trial, a jury ordered Exxon to pay $5&nbsp;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&nbsp;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=Seattle Times |date=August 2007|accessdate=August 24, 2007}}</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 name="Nightingale">{{cite news|url=http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aBlNZuzlHXOM&refer=uk|title=Valdez Ghost Haunts Exxon With Spill-Prone Ships (Update2) - Bloomberg|last=Nightingale|first=Alaric|coauthors=Tony Hopfinger|date=March 24, 2009|work=]|accessdate=30 September 2012}}</ref>

===Exxon's Brooklyn oil spill===
{{Main|Greenpoint oil spill}}

New York Attorney General ] announced on July 17, 2007 that he had filed suit against the Exxon Mobil Corp. and ExxonMobil Refining and Supply Co. to force cleanup of the oil spill at Greenpoint, Brooklyn, and to restore ].<ref name=cuomo>
{{cite web
|url=http://www.ag.ny.gov/press-release/cuomo-sues-exxonmobil-over-catastrophic-greenpoint-oil-spill
|title=Cuomo sues ExxonMobil over catastrophik Greenpoint oil spil
|accessdate=October 24, 2007
|date=July 7, 2007
}}</ref> }}</ref>
* Michael J. Angelakis, chair and chief executive officer of Atairos Group Inc.
* ], former president and CEO of WellPoint (now Anthem)
* Maria S. Dreyfus, CEO and Founder of Ardinall Investment Management
* John D. Harris II, former CEO, Raytheon International, Inc.
* ], board professional
* Joseph L. Hooley, former chair, president and CEO of State Street
* ], chair, president and CEO of MetLife
* ], senior strategist at X Development
* ], former CEO, COO, and Chair of Continental Airlines
* ], BDT & MSD Partners, LLC
* ], 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>


===Key executives===
A study of the spill released by the ] in September 2007 reported<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>
{{cite web
*], chairman and CEO
|url=http://www.epa.gov/region2/superfund/npl/newtowncreek/newtowncreek_review.pdf
*Neil Chapman, Senior Vice President
|title=Newton Creek/Greenpoint oil spill study, Brookly, New York
*Kathryn Mikells, CFO and Senior Vice President
|accessdate=October 24, 2007
*Jack Williams, Senior Vice President
|date=September 12, 2007
*James Spellings, General Tax Counsel and Vice President
|page=4
|format=PDF}}</ref> that the spill consists of {{convert|17|to|30|e6USgal|m3}} of petroleum products from the mid-19th century to the mid-20th century.<ref>{{cite web|url=http://www.dec.ny.gov/chemical/8682.html |title=Greenpoint Petroleum Remediation Project – NYS Dept. of Environmental Conservation |publisher=Dec.ny.gov |accessdate=July 11, 2011}}</ref> The largest portion of these operations were by ExxonMobil or its predecessors. By comparison, the Exxon Valdez oil spill was approximately {{convert|11|e6USgal|m3}}.<ref name = EVOSTC_FAQ/> The study reported that in the early 20th century ] 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=October 24, 2007
|date=September 12, 2007
|page=23
|format=PDF}}</ref>

===Baton Rouge Refinery Benzene Leak===
On June 14, 2012, a bleeder plug on a tank in the ] failed and began leaking ], a substance that is composed of many chemicals including ].<ref>{{cite web|last=Amy|first=Wold|title=La. DEQ demands timeline on spill from ExxonMobil|url=http://theadvocate.com/home/3423221-125/la-deq-demands-timeline-on|work=Article|publisher=The Advocate|accessdate=12 April 2013}}</ref> ExxonMobil originally reported to the ](LDEQ) that 1,364 pounds of material had been leaked.

On June 18, Baton Rouge refinery representatives told the LDEQ that ExxonMobil's chemical team determined that the June 14 spill was actually a level 2 incident classification which means that a significant response to the leak was required.<ref name=autogenerated3></ref> On the day of the spill the refinery did not report that their estimate of spilled materials was significantly different than originally reported to the department. Because the spill estimate and the actual amount of chemicals spilled varied drastically, the LDEQ launched an in-depth investigation on June 16 to determine the actual amounts of chemicals spilled as well as to find out what information the refinery knew and when they knew it.<ref name=autogenerated1></ref> On June 20, ExxonMobil sent an official notification to the LDEQ saying that the leak had actually released 28,688 pounds of benzene, 10,882 pounds of toluene, 1,100 pounds of cyclohexane, 1,564 pounds of hexane and 12,605 pounds of additional volatile organic compound.<ref name=autogenerated3 /><ref name=autogenerated1 /> After the spill, people living in neighboring communities reported adverse health impacts such as severe headaches and respiratory difficulties.<ref name=autogenerated2></ref><ref name=autogenerated2 />
]]]

===Baton Rouge Refinery pipeline oil spill===
In April 2012, a crude oil pipeline, from the Exxon Corp Baton Rouge Refinery, burst and spilled at least 1,900 barrels of oil (80,000 gallons) in the rivers of Point Coupee Parish, Louisiana, shutting down the Exxon Corp Baton Refinery for a few days. Regulators opened an investigation in response to the pipeline oil spill. Local Louisiana residents were not informed until days after the Exxon pipeline oil spill.<ref name="Reuters-April-2012"> Reuters, April 30, 2012</ref>

===Yellowstone River oil spill===
]
The July 2011 Yellowstone River oil spill was an oil spill from an ExxonMobil pipeline running from Silver Tip to ], which ruptured about 10 miles west of Billings on July 1, 2011, at about 11:30&nbsp;pm<ref name="NYT-July-11"> New York Times, July 2, 2011</ref> The resulting spill leaked an estimated 750 to 1,000 barrels of oil into the ] for about 30 minutes before it was shut down.<ref name="HS3-jul-11"> Herald Sun July 3, 2011</ref>

As a precaution against a possible explosion, officials in ] evacuated about 140 people on Saturday (July 2) just after midnight, then allowed them to return at 4&nbsp;am<ref name="NYT-July-11"/>

A spokesman for ExxonMobil said that the oil is within 10 miles of the spill site. However, ] ] disputed the accuracy of that figure.<ref>{{cite news | url=http://www.sacbee.com/2011/07/03/3745791/yellowstone-river-oil-spill-outrages.html | title=Yellowstone River oil spill outrages Montana residents | work=The Sacramento Bee | date=July 4, 2011 | accessdate=July 4, 2011 | last=Hennesy-Fiske | first=Moll}}</ref> The governor pledged that "The parties responsible will restore the Yellowstone River."<ref name="HS3-jul-11"/>

===Mayflower oil spill===
{{Main|2013 Mayflower oil spill}}
On March 29, 2013, an ExxonMobil pipeline carrying Canadian ] ] ruptured in ], releasing at least 12,000 barrels of oil and forcing the evacuation of 22 homes.<ref></ref> The Environmental Protection Agency has classified the leak as a ''major spill''.<ref>http://www.nytimes.com/2013/03/31/us/oil-pipeline-ruptures-in-arkansas.html?ref=earth</ref> Local officials performing disaster relief requested that the FAA impose a no-fly zone, with relief efforts headed by an aviation advisor for ExxonMobile being exempt. After it was imposed it was amended to allow aerial news crews to fly over the area.<ref>{{Cite news|url = http://www.arkansasonline.com/news/2013/apr/03/no-fly-zone-place-over-mayflower-oil-spill/|title = No-fly zone in place over Mayflower oil spill |first = Gavin|last = Lesnick|date = 3 April 2013|accessdate = 7 July 2013|newspaper = ]}}</ref>

===Sakhalin-I in the Russian Far East===
{{Main|Sakhalin-I}}

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>{{cite web|url=http://www.secinfo.com/d14D5a.118Sq.9.htm |title=Exxon Mobil Corp. – 10-K – For 12/31/03 – EX-21 |publisher=SEC Info |date=December 31, 2003 |accessdate=July 11, 2011}}</ref> threatens the critically endangered western gray whale population.<ref>{{cite web|url=http://www.iucn.org/wgwap/ |title=Western Gray Whale Conservation Initiative |publisher=IUCN |accessdate=July 11, 2011}}</ref><ref></ref><ref>{{cite news| url=http://news.bbc.co.uk/2/hi/science/nature/8017291.stm |work=BBC News | title=Gray whales granted rare reprieve | date=April 24, 2009 | accessdate=May 2, 2010}}</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>

===Funding of global warming disinformation and denial===
ExxonMobil has been accused of paying to fuel disinformation about and denial of ] ] (i.e. the rise in the average temperature of Earth's atmosphere and oceans since the late 19th century and its projected continuation due to the greenhouse effect, caused primarily by increased levels of carbon dioxide released in the burning of coal and petroleum-based fuels).<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=April 24, 2009 |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=April 24, 2009 |publisher=The Royal Society}}</ref>

ExxonMobil has drawn criticism from scientists, science organizations and the environmental lobby for funding organizations critical of the ] and seeking to undermine public opinion about the scientific conclusion that ] is caused by the burning of ]s. According to '']'', the company channeled more than $8 million to forty different organizations that have employed disinformation campaigns including "skeptic propaganda masquerading as journalism" to influence opinion of the public and of political leaders about global warming<ref name=Mooney/> and that the company was a member of one of the first such groups, the ], founded in 1989.<ref name=Mooney>{{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|accessdate=April 29, 2007}}</ref> According to '']'', ExxonMobil has funded, among other groups, the ], ], ], ], ], and ].<ref>{{cite news |url=http://environment.guardian.co.uk/climatechange/story/0,,1876538,00.html |title=Royal Society Letter to Exxon|work=The Guardian |location=UK |date=September 20, 2006|first= David|last= Adam|accessdate=October 18, 2006 }}</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 |work=The Guardian |location=UK |date=November 28, 2004|first= Antony|last= Barnett|accessdate=January 16, 2007 }}</ref> ExxonMobil's support for these organizations has drawn criticism from the ], the academy of sciences of ].<ref>{{cite news | 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=] | work=The Guardian | date=September 4, 2006 | accessdate=October 18, 2006 | format=PDF | location=London}}</ref> The ] released a report in 2007 accusing ExxonMobil of spending $16&nbsp;million, between 1998 and 2005, towards 43 advocacy organizations which dispute the impact of global warming.<ref name="ReportDisinformation">{{cite press release |accessdate=January 4, 2007
|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 lung cancer 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' … {{citation needed|date=February 2011}}
*Industry senior leadership understands uncertainties in climate science, making them stronger ambassadors to those who shape climate policy {{citation needed|date=February 2011}}
*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>}}

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 April 10, 2008.</ref>

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 name="guardian1">{{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=December 23, 2008 |work=The Guardian | location=London | first=David | last=Adam | date=May 28, 2008}}</ref>

In August 2006, the '']'' revealed that a YouTube video ] ], titled '']'', appeared to be ] by ], a Washington PR firm with ties to ExxonMobil.<ref name=WSJ_Aug2006>{{cite news
|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
| work=]}}</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>

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 | url=http://www.msnbc.msn.com/id/16593606/ | title=Exxon cuts ties to global warming skeptics | work=MSNBC | date=January 12, 2007 | accessdate=May 9, 2007}}</ref>
While the company did not publicly state which the other similar groups were, a May 2007 report by ] does list the five groups "at the heart of the climate change denial industry" it stopped funding as well as a list of 41 similar groups which are still receiving ExxonMobil funds.<ref name="Greenpeace-climate change">{{cite press release|title=Exxon still funding Climate Change Deniers|publisher=]|date=May 18, 2007|url=http://www.greenpeace.org/international/en/news/features/exxon-still-funding-climate-ch/|accessdate=30 September 2012}}</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 | first1=Clifford | last1=Krauss | first2=Jad | last2=Mouawad | accessdate=May 2, 2010}}</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=ExxonMobil CEO: climate policy would be prudent | work=Reuters | date=February 13, 2007}}</ref>
However, recently Exxonmobil has announced that it will plan on spending up to 600 million dollars within the next 10 years to fund biofuels that come from algae. On July 14, 2010 Exxonmobil announced that, a year after teaming with ], they had opened a greenhouse to research ].<ref>{{cite web |url=http://www.exxonmobilperspectives.com/2010/07/14/the-next-phase-of-algae-biofuels/|title=The next phase of algae biofuels|accessdate=March 15, 2011 | publisher=Exxon Mobil Corp. | first=Ken| last=Cohen | date=July 14, 2010}}</ref>

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=July 1, 2009
|url=http://www.guardian.co.uk/environment/2009/jul/01/exxon-mobil-climate-change-sceptics-funding |title=ExxonMobil continuing to fund climate skeptic groups, records show |work=The Guardian |location=UK |date=July 1, 2009 | first=David | last=Adam}}</ref>

==Criticism==

===Environment===

The ] in Prince William Sound, Alaska, on March 24, 1989, was a watershed moment for environmental critics of the oil industry.

===Foreign business practices===
] by '']'' raised questions about ExxonMobil's dealings with the leaders of oil-rich nations. ExxonMobil controls concessions covering {{convert|11|e6acre|km2}} off the coast of ] that hold an estimated {{convert|7.5|Goilbbl|m3}} of crude.<ref>ExxonMobil. ].</ref>

<!-- 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.

''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, human rights 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 non-governmental organization ], 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 western European oil companies funded ] Jose Eduardo dos Santos. After transferring an alleged $770&nbsp;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 Act: ExxonMobil controls concessions covering {{convert|11|e6acre|km2}} off the coast of Angola that hold an estimated {{convert|7.5|Goilbbl|m3}} 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>

-->
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>

In March 2003, ] of the ] was indicted, accused of bribing President ] of ] with $78&nbsp;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 ].

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 Corp., had been sentenced to three years and ten months in prison on charges of evading ]es on more than $7&nbsp;million in unreported income, "including a $2&nbsp;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&nbsp;million in restitution to the ], in addition to penalties and interest.<ref>{{cite web|url=http://www.usdoj.gov/usao/nys/pressreleases/September03/williamsjbryansentencingpr.pdf |title=Williams, J. Bryansentencing |format=PDF |accessdate=July 11, 2011}}</ref>

===Human rights===
{{Main|Accusations of ExxonMobil human rights violations in Indonesia}}
ExxonMobil is the target of human rights activists for 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 ], murder and rape, 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) relationship with the Indonesian military first arose in 1992; the company denies these accusations and filed a ] the suit, which was denied in 2008 by a federal judge,<ref>{{cite news | url=http://www.bloomberg.com/apps/news?pid=20601103&sid=aRYhia8wUENs | title=ExxonMobil Must Face Lawsuit by Indonesian Villagers | work=Bloomberg | date=August 27, 2008 | accessdate=July 11, 2011 | author=O&#39;Reilly, Cary}}</ref> but then dismissed in August 2009 by a different federal judge.<ref></ref> The dismissal is currently under appeal.

===LGBT===

When Exxon Corp. merged with Mobil Corp. in 1999, the newly merged company ended enrollment in Mobil Corp.'s ] for same-sex partners of employees, and it rescinded formal prohibitions against discrimination based on ] by removing it from the company's Equal Employment Opportunity policy.<ref name = "bxuppe">{{cite web |url=http://www.equalityatexxon.org |title=Human Rights Campaign – Equality at Exxon Mobil Corp. |accessdate=March 7, 2008}}</ref> The ], an LGBT lobbying group and political action committee, gave ExxonMobil a score of "-25", the first and only negative score, in its ], a scorecard that rated 1000 companies on several criteria including diversity training that covers gender identity issues, transgender-inclusive medical coverage including surgical procedures, and "positively engaging the external LGBT community."<ref name="nytCEI13">{{cite web | url=http://www.nytimes.com/video/2013/05/24/business/100000002243986/exxon-mobils-stance-on-gay-rights.html?smid=tw-nytvideo&seid=auto | title=ExxonMobil's Stance on Gay Rights | publisher=New York Times | accessdate=May 25, 2013 | author=Ben Werschkul, Erica Berenstein, Channon Hodge, Pedro Rafael Rosado, and Marcus Mabry}}</ref>
On May 26, 2010, ExxonMobil shareholders voted down LGBT benefits for its employees – only 22 percent of shareholders voted yes for the issue.<ref>{{cite web|url=http://www.dallasvoice.com/instant-tea/2010/05/26/exxonmobil-shareholders-vote-down-lgbt-protections/ |title=ExxonMobil votes down gay protections |publisher=Dallas Voice |date=May 26, 2010 |accessdate=August 14, 2010}}</ref>

===Investigative book: ''Private Empire: ExxonMobil and American Power''===
A July 2012 review of ]'s book, ''Private Empire: ExxonMobil and American Power'', in '']'' says that he thinks that ExxonMobil has "grown into one of the planet’s most hated corporations, able to determine American foreign policy and the fate of entire nations".<ref name=tel12/> In terms of its environmental record, ExxonMobil increasingly drills in terrains leased to them by ], such as those in ] and ].<ref name=tel12/> ] describes ], the corporation’s chief executive until 2005, as "notoriously skeptical about ] and disliked government interference at any level".<ref name=tel12>{{cite web |url=http://www.telegraph.co.uk/culture/books/bookreviews/9429215/Private-Empire-ExxonMobil-and-American-Power-by-Steve-Coll.html |title=Private Empire: ExxonMobil and American Power |author=Ian Thompson |date=30 July 2012 |work=The Telegraph }}</ref>

==Headquarters==
ExxonMobil's headquarters are located in ].<ref>"." ExxonMobil. Retrieved on March 6, 2012.</ref> 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 {{convert|3000000|sqft|m2}}, a wellness center, laboratory, and multiple 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 |accessdate=August 14, 2010}}</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> In October 2010, the company stated that it would not move its headquarters to ].<ref>"." '']''. Monday October 11, 2010. Retrieved on October 13, 2010.</ref>



==See also== ==See also==
* Litigation involving ExxonMobil:
{{Portal|Dallas-Fort Worth|Companies|Energy|United States}}
** '']''
*] (in Louisiana, United States)
*] ** '']''
*] ** '']''
** '']''
*]
*]
{{-}}


==Notes== ==Notes==
{{Reflist|30em}} {{Notelist}}


==References== ==References==
{{reflist}}


===Bibliography=== ==Bibliography==
{{Refbegin}} {{Refbegin}}
* 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}} }}
*Bender, Rob, and Tammy Cannoy-Bender. ''An Unauthorized Guide to: Mobil Collectibles – Chasing the Red Horse''. Atglen, Pennsylvania: Schiffer Publishing Co., 1999.
* 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}} }}
*Exxon Corp. ''Century of Discovery: An Exxon Album''. 1982.
* 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}} }}
*Gibb, George S., and Evelyn H. Knowlton. ''The Resurgent Years, 1911–1927: History of Standard Oil Co. (New Jersey)''. New York: ] Publishers, 1956.
* Bender, Rob, and Tammy Cannoy-Bender. ''An Unauthorized Guide to: Mobil Collectibles – Chasing the Red Horse''. Atglen, Pennsylvania: Schiffer Publishing Co., 1999.
*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.
* Exxon Corp. ''Century of Discovery: An Exxon Album''. 1982.
*Larson, Henrietta M., and Kenneth Wiggins Porter. ''History of Humble Oil & Refining Co.: 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 Co. (New Jersey)''. New York: ], 1971. * Gibb, George S., and Evelyn H. Knowlton. ''The Resurgent Years, 1911–1927: History of Standard Oil Co. (New Jersey)''. New York: ] Publishers, 1956.
*McIntyre, J. Sam. ''The Esso Collectibles Handbook: Memorabilia from Standard Oil of New Jersey''. Atglen, Pennsylvania: Schiffer Publishing Co., 1998. * 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.
* Larson, Henrietta M., and Kenneth Wiggins Porter. ''History of Humble Oil & Refining Co.: A Study in Industrial Growth''. New York: Harper & Brothers Publishers, 1959.
*Sampson, Anthony. ''The Seven Sisters: The 100-year Battle for the World's Oil Supply''. New York: Bantom Books, 1991.
* Larson, Henrietta M., Evelyn H. Knowlton, and Charles S. Popple. ''New Horizons, 1927–1950: History of Standard Oil Co. (New Jersey)''. New York: ], 1971.
*Standard Oil Co. (New Jersey). ''Ships of the Esso Fleet in World War II''. 1946.
* McIntyre, J. Sam. ''The Esso Collectibles Handbook: Memorabilia from Standard Oil of New Jersey''. Atglen, Pennsylvania: Schiffer Publishing Co., 1998.
*] ''All in a Day’s Work: An Autobiography.''. New York: The MacMillan Co., 1939.
*Tarbell, Ida M., and ]. '']''. New York: Harper & Row, 1966. * Sampson, Anthony. ''The Seven Sisters: The 100-year Battle for the World's Oil Supply''. New York: Bantom Books, 1991.
*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. * Standard Oil Co. (New Jersey). ''Ships of the Esso Fleet in World War II''. 1946.
*]. '']''. New York: ], 1991. * ] ''All in a Day's Work: An Autobiography.''. New York: The MacMillan Co., 1939.
* Tarbell, Ida M., and ]. '']''. New York: Harper & Row, 1966.
* 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.
* ]. '']''. New York: ], 1991.
{{Refend}} {{Refend}}


==Further reading== ==Further reading==
{{Refbegin}} {{Refbegin}}
*{{Cite book | last = Coll | first = Steve | authorlink = Steve Coll | year = 2012 | title = Private Empire: ExxonMobil and American Power | location = New York, NY | publisher = ] | isbn = 978-1-594-20335-0 }} * {{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. | authorlink = 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 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 | url = http://jah.oxfordjournals.org/content/99/1/145.full | journal = ] | volume = 99 | number = 1 | pages = 145–154 }} * {{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}} {{Refend}}


==External links== ==External links==
{{Commons category|ExxonMobil}} {{Commons category|ExxonMobil}}
{{Wikiquote|ExxonMobil}}
*
*
* company public information journal
*


* {{Official website}}
*
{{Finance links
| name = Exxon Mobil Corporation
| symbol = XOM
| reuters = XOM.N
| bloomberg = XOM:US
| sec_cik = 34088
| yahoo = XOM
| google = XOM:NYSE
}}
*
{{ExxonMobil}} {{ExxonMobil}}
{{Petroleum industry}} {{Petroleum industry}}
{{National Medal of Arts recipients 1980s|state=autocollapse}}
{{Dow Jones Industrial Average companies}}

{{Portal bar|Companies|Energy|United States}}

{{Authority control|state=expanded}}


]
]
]
]
]
]
]
]
]
]
]
]
] ]
]
]
]
]
] ]
] ]
] ]
]
]
] ]
] ]
] ]
]
]
]<!--Standard Oil of New Jersey-->
]<!--Standard Oil of New Jersey-->
]<!--Standard Oil of New Jersey-->
]<!--Standard Oil of New Jersey-->
]
]
]
]
]
]
]
]
]

Latest revision as of 21:39, 8 January 2025

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 company 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 January 8, 2025, the current ExxonMobil board members are:

  • Michael J. Angelakis, chair and chief executive officer of Atairos Group Inc.
  • Angela Braly, former president and CEO of WellPoint (now Anthem)
  • Maria S. Dreyfus, CEO and Founder of Ardinall Investment Management
  • John D. Harris II, former CEO, Raytheon International, Inc.
  • Kaisa H. Hietala, board professional
  • Joseph L. Hooley, former chair, president and CEO of State Street
  • Steven A. Kandarian, chair, president and CEO of MetLife
  • Alexander A. Karsner, senior strategist at X Development
  • Lawrence W. Kellner, former CEO, COO, and Chair of Continental Airlines
  • Dina Powell McCormick, BDT & MSD Partners, LLC
  • Jeffrey W. Ubben, Founder, Portfolio Manager, and Managing Partner, Inclusive Capital Partners, L.P.
  • Darren W. Woods, chair of the board and CEO, ExxonMobil Corporation

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

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.

References

  1. "EXXON MOBIL CORPORATION". opencorporates.com. Retrieved September 20, 2022.
  2. Myerson, Allen R. (1998). "The Lion and the Moose; How 2 Executives Pulled Off the Biggest Merger Ever". New York Times. Retrieved April 15, 2024.
  3. ^ 10-K 2023.
  4. Crowley, Kevin (July 29, 2022). "Exxon CEO Loves What Manchin Did for Big Oil in $370 Billion Deal". Bloomberg News. Retrieved August 29, 2022.
  5. Staff (August 29, 2022). "Exxon should not participate in upcoming auction of oil blocks—Patterson". Stabroek News. Retrieved August 29, 2022.
  6. Bloom, Michael (August 29, 2022). "Here are Monday's biggest analyst calls: Tesla, Amazon, Exxon, Costco, Apple & more". CNBC. Retrieved August 29, 2022.
  7. "Certificate of incorporation and by-laws". ExxonMobil. June 20, 2001. Archived from the original on March 25, 2023. Retrieved September 19, 2022.
  8. 10-K 2018.
  9. Dutta, Sumit (February 6, 2018). "Top 10 Oil & Gas Companies: ExxonMobil". Oil & Gas IQ. Retrieved June 20, 2024.
  10. "Global 500". Fortune. Retrieved August 4, 2022.
  11. "Top ten companies by oil production". Offshore Technology. May 14, 2019. Archived from the original on June 5, 2022. Retrieved August 4, 2022.
  12. ^ Copley, Michael (February 29, 2024). "ExxonMobil is suing investors who want faster climate action". NPR.
  13. Holusha, John (April 21, 1989). "Exxon's Public-Relations Problem". The New York Times. ISSN 0362-4331. Retrieved July 9, 2020.
  14. "11 Major Oil Spills Of The Maritime World". Marine Insight. Retrieved July 9, 2020.
  15. ^ Ian Thompson (July 30, 2012). "Private Empire: ExxonMobil and American Power". The Daily Telegraph. London. Archived from the original on February 11, 2018. Retrieved April 3, 2018.
  16. for the City of Rochester (September 1990). "Detailed Historical Site Assessment of the Vacuum Oil Company's facilities and locations" (PDF). New York Department of Environmental Conservation. Retrieved May 8, 2023.
  17. ^ Kumar, B. Rajesh (2019), Kumar, B. Rajesh (ed.), "ExxonMobil Merger", Wealth Creation in the World's Largest Mergers and Acquisitions: Integrated Case Studies, Management for Professionals, Cham: Springer International Publishing, pp. 101–109, doi:10.1007/978-3-030-02363-8_9, ISBN 978-3-030-02363-8, ISSN 2192-8096, S2CID 239577792, retrieved September 15, 2022(subscription required)
  18. Brooks, Nancy Rivera (December 2, 1998). "Exxon and Mobil Agree to Biggest Merger Ever". Los Angeles Times. Retrieved April 8, 2020.
  19. "The Exxon – Mobil Merger Controversy|Business Strategy|Case Study|Case Studies". www.icmrindia.org. Retrieved May 9, 2023.
  20. "U.S. to Allow Mobil Deal With Exxon". www.washingtonpost.com. Retrieved May 9, 2023.
  21. Motley Fool Staff (February 10, 1999). "Exxon Mobil (Drip Port) February 10, 1999". The Motley Fool. Retrieved September 20, 2022.
  22. "Exxon Mobil eyes multi-billion dollar investment at Singapore refinery | Market Report Company – analytics, Prices, polyethylene, polypropylene, polyvinylchloride, polystyrene, Russia, Ukraine, Europe, Asia, reports". www.mrcplast.com. Archived from the original on April 3, 2019. Retrieved April 3, 2019.
  23. TopBlog. "Energy Choices: ExxonMobil – Exxon Energy". Energy Choices (in Indonesian). Archived from the original on April 3, 2019. Retrieved April 3, 2019.
  24. "Business divisions". ExxonMobil. Retrieved August 31, 2022.
  25. "Financial operations overview and highlights | ExxonMobil". ExxonMobil. Archived from the original on October 24, 2018. Retrieved October 24, 2018.
  26. "ExxonMobil's proved reserves by product type 2021". Statista. Retrieved August 31, 2022.
  27. ^ "Exxon Mobil Corp (XOM)". Reuters. Archived from the original on January 9, 2016. Retrieved January 9, 2016.
  28. Toweh, Alphonso (November 13, 2015). "Exxon Mobil to drill offshore post-Ebola Liberia". Reuters. Archived from the original on January 26, 2016. Retrieved January 9, 2016.
  29. Bavier, Joe (December 17, 2014). "Ivory Coast signs deals with ExxonMobil for two oil blocks". Reuters. Archived from the original on January 26, 2016. Retrieved January 9, 2016.
  30. Rabary, Lovasoa (July 4, 2015). "Exxon Mobil ends oil exploration in Madagascar after poor finds -minister". Reuters. Archived from the original on January 26, 2016. Retrieved January 9, 2016.
  31. "ExxonMobil hands over operations at West Qurna 1 oilfield to PetroChina". Reuters. January 1, 2024. Retrieved November 22, 2024.
  32. Mishra, Shivam (January 2, 2024). "ExxonMobil transfers West Qurna 1 oilfield in Iraq to PetroChina". Offshore Technology. Retrieved November 22, 2024.
  33. Čavčić, Melisa (March 20, 2024). "ExxonMobil strikes oil offshore Guyana with Stena drillship". Offshore Energy. Retrieved November 22, 2024.
  34. Čavčić, Melisa (May 15, 2024). "ExxonMobil hits oil offshore Angola and takes steps to search for more hydrocarbons". Offshore Energy. Retrieved November 22, 2024.
  35. "Exxon escalates dispute with Russia over barred exit from oil project – WSJ". Reuters. August 30, 2022. Retrieved August 31, 2022.
  36. Valle, Sabrina (February 1, 2022). "Exxon unveils sweeping restructuring in latest cost cutting move". Reuters. Retrieved August 31, 2022.
  37. "Nigeria approves Exxon-Seplat deal after more than two years". October 21, 2024.
  38. Exxon Mobil gas station locations in the USA. Scrape Hero. Archived from the original (PNG) on November 19, 2021.
  39. "Our global brands". ExxonMobil. Retrieved August 31, 2022.
  40. "Exxon in Talks to Restructure Stake in Japan Refining Unit". Bloomberg News. January 5, 2012. Archived from the original on January 24, 2016. Retrieved March 6, 2017.
  41. Okada, Yuji; Adelman, Jacob (January 30, 2012). "TonenGeneral to Buy Exxon Japan Refining, Marketing Unit for $3.9 Billion". Bloomberg. Archived from the original on January 24, 2016. Retrieved January 30, 2012.
  42. "ExxonMobil launches new Exxon Mobil rewards loyalty program". ExxonMobil. Retrieved October 5, 2022.
  43. Paul, Trina. "These 5 gas rewards programs that can save you money at the pump". CNBC. Retrieved October 5, 2022.
  44. "Esso and Nectar to launch new loyalty partnership | ExxonMobil United Kingdom". ExxonMobil. Retrieved October 5, 2022.
  45. "ExxonMobil chemicals: petrochemicals since 1886". ExxonMobil.com. Archived from the original on January 24, 2016. Retrieved January 14, 2016.
  46. "Infineum". Archived from the original on September 25, 2015. Retrieved September 23, 2015.
  47. "NASCAR engines use Mobil 1". Mobil. Retrieved October 10, 2024.
  48. "Formula One – The Mobil 1/Red Bull Racing partnership". Mobil. Retrieved October 10, 2024.
  49. "Mobil 1 Returns to NHRA Racing With Multi-Year Sponsorship of Toyota Racing Development and Kalitta Motorsports". Business Wire. December 12, 2019. Retrieved October 10, 2024.
  50. Sam (February 14, 2011). "McLaren extends Mobil 1 partnership". Racecar Engineering. Retrieved October 10, 2024.
  51. "A look inside Downstream". ExxonMobil. Archived from the original on August 31, 2022. Retrieved August 31, 2022.
  52. "ExxonMobil refining capacity by region 2021". Statista. Retrieved August 31, 2022.
  53. "4 of Nation's 10 Largest Oil Refineries Located Along Texas Gulf Coast". Zehl & Associates. January 4, 2022. Retrieved September 2, 2022.
  54. admin. "World's Largest Refineries | Oilandgasclub.com". Retrieved September 2, 2022.
  55. "US refiners invest sparingly in new capacity | Argus Media". www.argusmedia.com. May 26, 2022. Retrieved November 1, 2023.
  56. "ExxonMobil boosts fuel supply with $2 billion Beaumont refinery expansion". ExxonMobil. Retrieved November 1, 2023.
  57. Hirtenstein, Anna (November 3, 2017). "Exxon Quietly Researching Hundreds of Green Projects". Bloomberg. Archived from the original on March 18, 2018. Retrieved March 18, 2018.
  58. "ExxonMobil restructuring with low-carbon solutions at forefront". Environment + Energy Leader. February 2, 2022. Retrieved August 31, 2022.
  59. Jacobs, Justin (April 4, 2023). "ExxonMobil says low-carbon business could one day eclipse oil and gas". Financial Times. Retrieved September 21, 2023.
  60. "ExxonMobil's low-carbon hydrogen plant to be world's biggest". energydigital.com. August 14, 2023. Retrieved August 14, 2023.
  61. West, Terence (August 14, 2023). "The Largest Low-Carbon Hydrogen Project in the World". EnergyPortal.eu. Retrieved August 14, 2023.
  62. "ExxonMobil Acquires Large Stake in Biofuel Company Biojet AS". Environment + Energy Leader. January 12, 2022. Retrieved August 31, 2022.
  63. "Why we're investing $15 billion in a lower-carbon future". ExxonMobil. Retrieved August 31, 2022.
  64. "Exxon Mobil buys Denbury, pipeline company with carbon capture expertise, for $5 billion". Associated Press. July 13, 2023.
  65. Mishra, Shivam (July 26, 2024). "ExxonMobil signs CO2 capture and storage deal with CF Industries". Offshore Technology. Retrieved November 22, 2024.
  66. "Exxon Quietly Researching Hundreds of Green Projects". Bloomberg. November 3, 2017. Retrieved January 29, 2024.
  67. "Why big oil is wading into lithium". The Economist. ISSN 0013-0613. Retrieved June 30, 2024.
  68. "Irving-based ExxonMobil pledges to go net-zero by 2050". January 25, 2022.
  69. "Big US Pension Fund Joins Critics Of ExxonMobil Climate Stance". Energy-daily.com. Archived from the original on July 26, 2011. Retrieved July 11, 2011.
  70. "Toxic 100 Air Polluters Index (2018 Report, Based on 2015 Data)". Political Economy Research Institute. October 26, 2016. Archived from the original on December 20, 2018. Retrieved December 20, 2018.
  71. "Greenhouse 100 Polluters Index (2018 Report, Based on 2015 Data)". Political Economy Research Institute. April 21, 2015. Archived from the original on December 20, 2018. Retrieved December 20, 2018.
  72. Riley, Tess (July 10, 2017). "Just 100 companies responsible for 71% of global emissions, study says". The Guardian. ISSN 0261-3077. Retrieved May 6, 2020.
  73. "New report shows just 100 companies are source of over 70% of emissions – CDP". www.cdp.net. Retrieved May 6, 2020.
  74. Mufson, Steven (April 2, 2008). "Familiar Back and Forth With Oil Executives". The Washington Post. Archived from the original on November 11, 2012. Retrieved July 11, 2011.
  75. "ERES: ExxonMobil Shareholders Relying on Fumes". Heatisonline.org. Archived from the original on July 21, 2011. Retrieved July 11, 2011.
  76. Overland, Indra; Bourmistrov, Anatoli; Dale, Brigt; Irlbacher-Fox, Stephanie; Juraev, Javlon; Podgaiskii, Eduard; Stammler, Florian; Tsani, Stella; Vakulchuk, Roman; Wilson, Emma C. (May 2021). "The Arctic Environmental Responsibility Index : A method to rank heterogenous extractive industry companies for governance purposes". Business Strategy and the Environment. 30 (4): 1623–1643. doi:10.1002/bse.2698. hdl:11250/2833568. ISSN 0964-4733. S2CID 233618866.
  77. "ExxonMobil's number of spills worldwide 2020". Statista. Retrieved December 5, 2022.
  78. "ExxonMobil GHG emissions worldwide 2020". Statista. Retrieved December 5, 2022.
  79. Supran, G.; Rahmstorf, S.; Oreskes, N. (January 13, 2023). "Assessing ExxonMobil's global warming projections". Science. 379 (6628): eabk0063. Bibcode:2023Sci...379.0063S. doi:10.1126/science.abk0063. ISSN 0036-8075. PMID 36634176. S2CID 255749694.
  80. Milman, Oliver. "Revealed: Exxon made "breathtakingly" accurate climate predictions in 1970s and '80s". Mother Jones. Retrieved January 19, 2023.
  81. Schwartz, John (May 23, 2016). "Public Campaign Against Exxon Has Roots in a 2012 Meeting". The New York Times. ISSN 0362-4331. Retrieved October 31, 2022.
  82. "Exxon knew of climate change in 1981, email says – but it funded deniers for 27 more years". the Guardian. July 8, 2015. Retrieved October 31, 2022.
  83. Times, Ivan Penn Ivan Penn is a former staff writer for the Los Angeles (January 20, 2016). "California to investigate whether Exxon Mobil lied about climate-change risks". Los Angeles Times. Retrieved October 31, 2022.
  84. Clifford, Catherine (December 9, 2022). "Democratic lawmakers accuse big oil companies of 'greenwashing'". CNBC. Retrieved December 10, 2022.
  85. Maloney, Carolyn; Khanna, Ro (December 9, 2022). MEMORANDUM – Re: Investigation of Fossil Fuel Industry Disinformation (PDF) (Report). U.S. House Oversight and Reform Committee. Archived from the original (PDF) on December 28, 2022. Retrieved December 10, 2022.
  86. "The Power of Big Oil". FRONTLINE. Season 40. Episode 10–12. PBS. WGBH. Retrieved July 8, 2022.
  87. "Frequently asked questions about the Exxon Valdez Oil Spill". State of Alaska's Exxon Valdez Oil Spill Trustee. Archived from the original on September 25, 2006. Retrieved March 6, 2007.
  88. Leahy, Stephen (March 22, 2019). "Exxon Valdez changed the oil industry forever – but new threats emerge". National Geographic. Archived from the original on March 25, 2019. Retrieved October 25, 2019.
  89. "Cuomo sues ExxonMobil over catastrophic Greenpoint oil spill". July 7, 2007. Archived from the original on February 15, 2013. Retrieved October 24, 2007.
  90. "ExxonMobil Silvertip Pipeline Crude Oil Release into the Yellowstone River in Laurel, MT on 7/1/2011" (PDF). U.S. Department of Transportation. October 30, 2012. Archived from the original (PDF) on June 17, 2013.
  91. "Exxon Mobil shuts Louisiana oil pipeline after leak". Reuters.com. April 30, 2012. Archived from the original on March 22, 2019. Retrieved March 22, 2019.
  92. Yang, DaHyung (2018). Incremental Landscape at a Baton Rouge Oil Refinery: Temporal Framework for Phytoremediation in Louisiana Cancer Alley (Thesis). Louisiana State University Libraries. doi:10.31390/gradschool_theses.4704.
  93. Pasley, James. "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". Business Insider. Retrieved November 16, 2022.
  94. Meredith, Sam (May 18, 2021). "Just 20 companies are responsible for over half of 'throwaway' plastic waste, study says". CNBC. Retrieved December 18, 2022.
  95. The Plastic Waste Makers Index: Revealing the Source of the Single-Use Plastics Crisis (PDF) (Report). Minderoo Foundation. 2021. Retrieved December 18, 2022.
  96. Newburger, Emma (April 28, 2022). "California subpoenas Exxon for details on role in global plastic pollution". CNBC. Retrieved December 18, 2022.
  97. "Plastic Wars". FRONTLINE. Season 38. Episode 15. March 31, 2020. PBS. WGBH. Retrieved July 10, 2022.
  98. Westervelt, Amy (May 11, 2022). "Exxon doubles down on 'advanced recycling' claims that yield few results". The Guardian. Retrieved December 18, 2022.
  99. Dewan, Angela (September 23, 2024). "California sues ExxonMobil for alleged decades of deception around plastic recycling, in first-of-a-kind lawsuit". CNN. Retrieved September 23, 2024.
  100. Coll, Steve (2012). Private empire : ExxonMobil and American power. New York: Penguin Press. ISBN 978-1-59420-335-0. OCLC 757470242.
  101. "Oozing success". The Economist. August 11, 2012. Archived from the original on April 4, 2015. Retrieved March 19, 2015.
  102. "Milestones: 1921–1936 – Office of the Historian". history.state.gov. Archived from the original on July 17, 2019. Retrieved July 23, 2019.
  103. "Indonesia torture case vs Exxon Mobil revived". Reuters. July 8, 2011. Retrieved May 13, 2020.
  104. "Oil giant ExxonMobil settles long-running Indonesia torture case". Al Jazeera. Retrieved August 31, 2024.
  105. Johnson, Jake (April 29, 2022). "'Big Oil is intentionally profiteering from the war': Exxon profits double after Putin's invasion". Salon. Retrieved October 10, 2024.
  106. "Exxon Mobil reached record profits amid high gas prices, war in Ukraine". PBS NewsHour. January 31, 2023.
  107. Franck, Thomas (June 10, 2022). "'Start investing': Biden jabs Exxon Mobil for high fuel costs in inflation speech". CNBC. Retrieved October 31, 2022.
  108. Isidore, Chris (July 29, 2022). "$2,245.62 a second: ExxonMobil scores enormous profit on record gas prices | CNN Business". CNN. Retrieved October 31, 2022.
  109. Mindock, Clark (May 10, 2024). "Exxon hit with $725.5 million verdict over mechanic's leukemia diagnosis". Yahoo! Finance. Archived from the original on May 11, 2024. Retrieved May 25, 2024.
  110. Alake, Tope; Bloomberg (May 10, 2024). "Philadelphia jury hits Exxon with $725.5 million verdict on mechanic's claim that he got cancer from benzene exposure". Fortune. Archived from the original on May 10, 2024. Retrieved May 25, 2024.
  111. "Fortune 500". Fortune. Retrieved November 17, 2022.
  112. "Marathon Petroleum". Marathon Petroleum Corporation . Retrieved October 26, 2023.
  113. "Fortune Global 500 List 2018". Fortune. Archived from the original on May 9, 2012. Retrieved March 22, 2019.
  114. ^ "2020 Financial and Operating Data" (PDF). ExxonMobil. April 2, 2021. Retrieved May 28, 2021.
  115. "Exxon Mobil Fundamentalanalyse | KGV | Kennzahlen". boerse.de (in German). Retrieved April 6, 2024.
  116. "Fortune 500".
  117. ^ "2009 Annual Report" (PDF). Annualreports.com. Archived (PDF) from the original on November 12, 2018. Retrieved November 11, 2018.
  118. "2010 Annual Report" (PDF). Annualreports.com. Archived (PDF) from the original on April 3, 2018. Retrieved November 11, 2018.
  119. "2011 Annual Report" (PDF). Annualreports.com. Archived (PDF) from the original on January 31, 2018. Retrieved November 11, 2018.
  120. "2012 Annual Report" (PDF). Annualreports.com. Archived (PDF) from the original on November 12, 2018. Retrieved November 11, 2018.
  121. "2013 Annual Report" (PDF). Annualreports.com. Archived (PDF) from the original on November 12, 2018. Retrieved November 11, 2018.
  122. "2014 Annual Report" (PDF). Annualreports.com. Archived (PDF) from the original on November 12, 2018. Retrieved November 11, 2018.
  123. ^ "2016 Annual Report" (PDF). Annualreports.com. Archived (PDF) from the original on November 12, 2018. Retrieved November 11, 2018.
  124. "ExxonMobil Earns $19.7 Billion in 2017; $8.4 Billion in Fourth Quarter". ExxonMobil News Releases. Archived from the original on October 12, 2018. Retrieved November 11, 2018.
  125. "2018 SUMMARY ANNUAL REPORT" (PDF). ExxonMobil News Releases. Archived (PDF) from the original on June 14, 2019. Retrieved August 19, 2019.
  126. "2019 Summary Annual Report" (PDF). Exxon Mobil. April 28, 2023.
  127. "2021 Financial and Operating Data" (PDF). ExxonMobil. Retrieved May 28, 2022.
  128. 10-K 2022.
  129. "Directory". ExxonMobil. Retrieved August 3, 2024. Business headquarters 22777 Springwoods Village Parkway Spring, TX 77389-1425
    Compare to: "2020 CENSUS – CENSUS BLOCK MAP (INDEX): Spring CDP, TX" (PDF). U.S. Census Bureau. p. 1 (PDF p. 2/4). Retrieved August 3, 2024.
  130. ^ Takahashi, Paul (January 31, 2022). "Exxon to move headquarters to Houston, from Dallas-area Irving". Houston Chronicle. Retrieved January 31, 2022. The Irving-based oil giant said the corporate relocation to Spring
  131. "Business Headquarters Archived May 11, 2012, at the Wayback Machine." ExxonMobil. Retrieved March 6, 2012.
  132. "ExxonMobil's New Campus: Giving Houston a Second Energy Corridor". Urban Land Magazine. May 4, 2015. Retrieved July 9, 2020.
  133. Sarnoff, Nancy (January 28, 2010). "ExxonMobil is considering a move". Houston Chronicle. Archived from the original on July 31, 2010. Retrieved August 14, 2010.
  134. "Exxon Mobil Corporation, Form 8-K, Current Report, Filing Date Dec 16, 2016" (PDF). secdatabase.com. Archived (PDF) from the original on April 24, 2018. Retrieved April 23, 2018.
  135. "Exxon Mobil Corp. Board of Directors". Exxon Mobil Corp. Retrieved January 8, 2025.
  136. "ExxonMobil Lead Director Ken Frazier to Retire; Jay Hooley to Become Lead Director". www.businesswire.com. March 22, 2022. Retrieved March 29, 2022.
  137. "Mergent Online – Company Detail : ExxonMobil". www.mergentonline.com. Retrieved September 22, 2022.

Bibliography

  • Form 10-K 2018: Exxon Mobil Corporation, Form 10-K for fiscal year ended December 31, 2018 (XBRL) (Report). U.S. SEC. February 27, 2019. Retrieved February 10, 2023.
  • Form 10-K 2022: Exxon Mobil Corporation, Form 10-K for fiscal year ended December 31, 2022 (XBRL) (Report). U.S. SEC. February 22, 2023. Retrieved March 10, 2023.
  • Form 10-K 2023: Exxon Mobil Corporation, Form 10-K for fiscal year ended December 31, 2023 (XBRL) (Report). U.S. SEC. February 28, 2024. Retrieved February 29, 2024.
  • Bender, Rob, and Tammy Cannoy-Bender. An Unauthorized Guide to: Mobil Collectibles – Chasing the Red Horse. Atglen, Pennsylvania: Schiffer Publishing Co., 1999.
  • Exxon Corp. Century of Discovery: An Exxon Album. 1982.
  • Gibb, George S., and Evelyn H. Knowlton. The Resurgent Years, 1911–1927: History of Standard Oil Co. (New Jersey). New York: Harper & Brothers 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.
  • Larson, Henrietta M., and Kenneth Wiggins Porter. History of Humble Oil & Refining Co.: 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 Co. (New Jersey). New York: Harper & Row, 1971.
  • McIntyre, J. Sam. The Esso Collectibles Handbook: Memorabilia from Standard Oil of New Jersey. Atglen, Pennsylvania: Schiffer Publishing Co., 1998.
  • Sampson, Anthony. The Seven Sisters: The 100-year Battle for the World's Oil Supply. New York: Bantom Books, 1991.
  • Standard Oil Co. (New Jersey). Ships of the Esso Fleet in World War II. 1946.
  • Tarbell, Ida M. All in a Day's Work: An Autobiography.. New York: The MacMillan Co., 1939.
  • Tarbell, Ida M., and David Mark Chalmers. The History of the Standard Oil Co.. New York: Harper & Row, 1966.
  • 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.
  • Yergin, Daniel. The Prize: The Epic Quest for Oil, Money, and Power. New York: Simon & Schuster, 1991.

Further reading

External links

ExxonMobil
Brands
Current
Former
Subsidiaries
Current
Former
People
Facilities
Controversies
Oil spills
Oil & gas fields
Other topics
Sponsorship
Petroleum industry
Benchmarks
Data
Natural gas
Petroleum
Exploration
Drilling
Production
History
Provinces
and fields
Other topics
Companies and
organisations
Major
petroleum
companies
Supermajors
National oil
companies
Energy trading
Others
Major
services
companies
Others
National Medal of Arts recipients (1980s)
1985
1986
1987
1988
1989
Portals: Categories: