Report by: David Loska
Company facts and history:
Exxon Mobil is the largest refiner in the world. Since its formation in late 1999, through the merger of Exxon and Mobil, it has been among the largest companies in the world. In 2005 Exxon Mobil surpassed GE as the largest publically traded company in the world in terms of market capitalization, and has been between first and second place in this category with Wal-Mart since then. Exxon Mobil is also the second largest company in terms of employees employing 82,000 people. Exxon Mobil is ranked 14th in the world in terms of oil and gas reserves. It owns less than 1% of world reserves. It produces about 3% of the world’s oil and 2% of the world’s energy. Exxon Mobil’s headquarters are located in Irving Texas, but it has 37 refineries in 21 countries. It is involved in upstream operations (exploration, extraction, shipping and wholesale), downstream operations (marketing, refining, retail) and has a chemical division located in Houston Texas. Exxon Mobil’s retail strategy has changed in recent years however. It has been progressively divesting itself from retail sales at gas pumps allowing other owners to pay royalties for use of its name.
The formation of Exxon Mobil through the merger of Exxon and Mobil companies was unprecedented in U.S. history because it reunited two companies that were both descendants of one single company, the John D. Rockefeller Corporation’s Standard Oil, which was forced to dissolve into 34 smaller companies in 1911. On November 30, 1999 the merger of Exxon and Mobil companies created the largest company in the world and was the largest merger in history.
Exxon Mobil had a relatively consistent March according to share prices. XOM shares were being traded near the 52 week high of $87.98 at the beginning of the month, that the stock was traded at in April of last year. The only major price action happened on 5 March where the share price lost