ExxonMobil is an American multinational oil and gas corporation headquartered in Irving, Texas, United States. It is a direct descendant of John D. Rockefeller's Standard Oil company, and was formed on November 30, 1999, by the merger of Exxon and Mobil (formerly Standard Oil of New York and Standard Oil of New Jersey.) It is affiliated with Imperial Oil which operates in Canada. ExxonMobil is the world's largest company by revenue and in 2013, became the largest publicly traded company by market capitalization in the world. The company is ranked #5 globally in Forbes Global 2000 list in 2013 Exxon Mobil's reserves were 72 billion oil-equivalent barrels at the end of 2007 and, at then (2007) rates of production, are expected to last over 14 years, with 37 oil refineries in 21 countries constituting a combined daily refining capacity of 6.3 million barrels (1,000,000 m3), Exxon Mobil is the largest refiner in the world, a title that was also associated with Standard Oil since its incorporation in 1870. In 1911 the U.S Supreme Court issued a dissolution of the standard oil trust, there were 34 separate companies, “Jersey standard & Socony” became what we know today as ExxonMobil.
Following Decades & Evolving Business ( Production, pipelines, research, refining) End of World War II, saw an expansion in the market to more then 100 countries.
1999 - Esso + Exxon + Mobil
$76.6 Billion Merger, with savings Of $8 Billion.
The Company’s Structure & Innovative practices
Exxon places great emphasis on shareholder value and corporate governance, as it is said that "A leader always wants to remain a leader" and this was enforcing ExxonMobil to get more innovative and technical. Public consumers' perceptions and the company's management were one of the main driving force for all these to happen. From the past, Exxon did not only sell its brands but also has been advocating the public safety as well. They have been researching, supporting and investing millions of dollars in these issues. ExxonMobil has been talking and working on the issues of climate changes their problems and solutions, advancements in fuel technologies; where consumers can get the efficient fuels in affordable prices, reducing GHG (greenhouse gas reduction) in operations including reduced hydrocarbon flaring, CCS (Carbon capture and storage) technology reducing overall emissions. They have spent more than $100 million in CFZ (controlled freeze zone) technology which ultimately will address the risks in climate change, along with Co2 separations from raw natural gas. Co- generation is their exciting, ever growing hi-tech innovative approach in producing electricity from raw materials and consumer products; an ultimate scientific recycling process. Their most advancement in vehicle and fuel technology is astounding. They are launching a concept of production the next generation bio-fuels from photosynthetic algae.
Lithium ion battery technology making a zero-emissions vehicles, new tire lining technology for vehicles tires longevity better fuel efficiency and plastic automotive technology are the another edge of ExxonMobil's changing world vision. Thus the public sense who were always wanted to be more and trendy now was pushing ExxonMobil, if not they were indirectly knocking the ExxonMobil to awake. ExxonMobil has always been in business with the slogan of innovations and change. They have not only changed the prospectus of oil business but also have clearly shown their planning up to 2030. Their performance record is quite impressive too, in 2003 they had a stronger earnings performance through their history $ 21 Billion dollars – Net Incomes
$30.8 Billion Dollars – Cash Flow
They continue to sell more than 65 Million gallons of fuel every day & operate in over 100 countries; it is a worldwide company &...
Please join StudyMode to read the full document