ExxonMobil

ExxonMobil is one of the largest publicly traded international oil and gas companies, headquartered in Irving, Texas. Formed in 1999 by the merger of Exxon (formerly Standard Oil of New Jersey) and Mobil (formerly Standard Oil of New York), it is a descendant of John D. Rockefeller’s Standard Oil Company, once the largest oil monopoly in the U.S.

Key Operations:

ExxonMobil operates across the entire energy value chain:

• Upstream: Exploration, production, and development of crude oil and natural gas.
• Downstream: Refining, distributing, and marketing petroleum products (fuels, lubricants).
• Chemicals: Manufacturing of petrochemicals and related products like plastics.

Global Presence:

• Operates in over 70 countries.
• Major operations in the United States, Europe, Asia, the Middle East, and Africa.

Financials:

As of 2023, ExxonMobil ranks as one of the largest companies globally by revenue and market capitalization, often competing with companies like Chevron, BP, and Shell. Its performance is closely tied to oil and gas prices, and it has significant reserves, including oil sands in Canada and shale oil in the U.S.

Environmental & Social Initiatives:

ExxonMobil has faced criticism for its environmental impact, especially its role in climate change due to carbon emissions. The company has shifted in recent years to focus on cleaner energy, including efforts in carbon capture, hydrogen, and other technologies, though critics argue these efforts have been slow compared to other energy giants.

Challenges:

• Regulatory and environmental pressures.
• Volatile oil prices and energy transition risks.
• Litigation over climate change disclosure and environmental damages.

Despite these challenges, ExxonMobil continues to be a dominant player in the global energy landscape.