ExxonMobil is an American multinational oil and gas corporation headquartered in Irving Texas. Which was formed on November 30, 1999 by the merger of Exxon (formerly Standard Oil Company of New Jersey) and Mobil (formerly Standard Oil Company of New York).
ExxonMobil uses technology and innovation to help meet the world’s growing energy needs. It is the world’s largest publicly traded international oil and gas company. They hold an industry leading inventory of global oil and gas resources. They are also world’s largest refiner and marketer of petroleum products and their chemical company ranks among the world’s largest.
ExxonMobil Corporation is committed to being the world’s premier petroleum and petrochemical company. To that end, ExxonMobil must continuously achieve superior financial and operating results while simultaneously adhering to high ethical standards.
ExxonMobil Corporation maintains the flexibility to adapt changing condition, the nature of the business requires a focused, long-term approach. There is a consistent strive to improve efficiency and productivity through learning, sharing and implementing best practices. ExxonMobil Corporation aspires to achieve its goals by flawlessly executing the business plans and by adhering to these guiding principles and the foundation policies that follow.
Both Exxon and Mobil were descendants of Standard Oil, established by John D. Rockfellar and partners in 1870 as the Standard Oil Company of Ohio. In 1882, it together with its affiliated companies was incorporated as the Standard Oil Trust with Standard Oil Company of New Jersey and Standard Oil Company of New York as its largest companies.
In 1995, Socony-Vaccum became Socony Mobil Oil Company. In 1959, Mangolia Peroleum Company, General Petroleum Corporation, and Mobil Producing Company were merged to form the Mobil Oil Company, a wholly owned subsidiary of Socony Mobil. In 1996, Socony Mobil Oil Company became the Mobil Oil Corporation.
In 1972, Exxon was unveiled as the new unified brand name for all former Enco and Esso outlets. At the same time, the company changed its corporate name from standard Oil of New Jersey to Exxon Corporation, and Humble Oil became Exxon Company U.S.A. Exxon replaced the Esso, Enco, and Humble oil brands in the United States on January 1, 1973.
Mobil celebrated its 100 years since the founding of the Vacuum Oil Company in 1866 and changes its name to Mobil Oil Corporation. The company launches a wide-reaching identity program to emphasize the Mobil trade name. Exxon celebrated its 100 years since the formation of the Standard Oil Trust in 1882. In its first hundred years, the company evolved from a domestic refiner and distributor of kerosene to a large multinational corporation, involved at every level of oil and gas exploration, production, refining and marketing, and petrochemicals manufacturing.
In 1998, Exxon and Mobil signed a US$ 73.7 billion merger agreement forming a new company called ExxonMobil Corp. ExxonMobil the largest oil company and third largest company in the world. This was the largest merger at that time. At the time of the merge Exxon was the world’s largest energy company while Mobil was the second largest oil and gas company in the United States.
ExxonMobil is the largest of world’s super major with daily production of 3.921 million BOE (barrels of equivalent). In 2008 this was approximately 3 percent of world’s production, which is less than several of the largest state-owned petroleum companies.
It is the world’s 8th largest company by revenue, also the 5th largest publicly traded company by market capitalization. The company was ranked No.6 globally in Forbes Global 2000 list in 2014. ExxonMobil was the second most profitable company in the Fortune 500 in 2014.
With 37 oil refineries in 21 countries constituting a combined daily refining capacity of 6.3 million barrels, ExxonMobil is the largest refiner in the world, a title that was also associated with Standard Oil since its incorporation in 1870.