Exxon Mobil Corporation, stylized
as ExxonMobil, is an American multinational oil and gas corporation
headquartered in Irving, Texas. It is the largest direct descendant of John D.
Rockefeller's Standard Oil,[3] and was
Exxon Mobil Corporation, stylized
as ExxonMobil, is an American multinational oil and gas corporation
headquartered in Irving, Texas. It is the largest direct descendant of John D.
Rockefeller's Standard Oil,[3] and was formed on November 30, 1999, by the
merger of Exxon (formerly the Standard Oil Company of New Jersey) and Mobil
(formerly the Standard Oil Company of New York). ExxonMobil's primary brands
are Exxon, Mobil, Esso, and ExxonMobil Chemical.[4] ExxonMobil is incorporated
in New Jersey.[5]
One of the world's largest
companies by revenue, ExxonMobil from 1996 to 2017 varied from the first to
sixth largest publicly traded company by market capitalization.[6][7] The
company was ranked third globally in the Forbes Global 2000 list in 2016.[8]
ExxonMobil was the tenth most profitable company in the Fortune 500 in 2017.[9]
As of 2018, the company ranked second in the Fortune 500 rankings of the
largest United States corporations by total revenue.[10] Approximately 55.56%
of the company's shares are held by institutions. As of March 2019,
ExxonMobil's largest shareholders include The Vanguard Group (8.15%), BlackRock
(6.61%), and State Street Corporation (4.83%).
ExxonMobil[11] is one of the
largest of the world's Big Oil companies.[10] As of 2007, it had daily
production of 3.921 million BOE (barrels of oil equivalent). In 2008, this was
approximately 3% of world production, which is less than several of the largest
state-owned petroleum companies.[12] When ranked by oil and gas reserves, it is
14th in the world—with less than 1% of the total.[13][14] ExxonMobil's reserves
were 20 billion BOE at the end of 2016 and the 2007 rates of production were
expected to last more than 14 years.[15] With 37 oil refineries in 21 countries
constituting a combined daily refining capacity of 6.3 million barrels
(1,000,000 m3), ExxonMobil is the seventh largest refiner in the
world,[16][17][18] a title that was also associated with Standard Oil since its
incorporation in 1870.[3][needs update]
ExxonMobil had been criticized
for its slow response to cleanup efforts after the 1989 Exxon Valdez oil spill
in Alaska,[19] considered to be one of the world's worst oil spills[20] in
terms of damage to the environment. ExxonMobil has a history of lobbying for
climate change denial and against the scientific consensus that global warming
is caused by the burning of fossil fuels. The company has also 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.[21]