ExxonMobil is an American multinational oil and gas corporation which designs and implements next-generation technology to help meet the world’s rising energy needs in a safe and responsible manner. It also works in high-quality chemical products. In order to provide energy to the growing world, ExxonMobil utilizes innovation and latest technology. It explores, produces and sells crude oil, natural gas and other petroleum products. The business is listed 9th in the Forbes Global 2000 index.
Headquarters: Irving, Texas, U.S.
Annual Revenue: 279.3 Billion U.S Dollars
Established in: 1999
Number of Employees: 71,000
- John Duston Archbold has been Jersey Standard’s first chairman. Walter C. Teagle, who made it the world’s largest oil firm, succeeded Archbold in 1917.
- Jersey Standard purchased a 50% stake in the Texas oil producer, Humble Oil & Refining Co., in 1919.
- It was on the New York Stock Exchange in 1920.
- In 1918, Socony acquired a 45 percent interest in the big refiner, marketer and pipeline distributor, Magnolia Petroleum Co.
- Magnolia was wholly owned by Socony in 1925.
- Socony bought California’s General Petroleum Corporation in 1926.
- Socony joined the Turkish oil company in 1928
- Socony merged into Socony-Vacuum in 1931 with the Vacuum Oil Company, an industry pioneer dating back to 1866.
- In 1922, it found oil in Indonesia
- Jersey Standard and Socony-Vacuum combined their interests into a 50–50 joint venture in the Asia-Pacific region in 1933.
- Its properties were nationalized in Bolivia in 1937, preceded in 1938 by the nationalization of property in Mexico.
- Socony-Vacuum purchased the California Gilmore Oil Company in 1940, which was combined with another company, General Petroleum Corporation, in 1945.
- In 1947, the subsidiary Nederlandse Aardolie Maatschappij BV for oil and gas exploration and production in the Netherlands was formed by Jersey Standard and Royal Dutch Shell.
- In 1948, the Arab-American Oil Company (Aramco) was purchased by Jersey Standard and Socony-Vacuum.
- Jersey Standard made the first major oil find in Libya in 1959.
- Mobil Chemical Company was founded in 1960 and Exxon Chemical Company was formed in 1965.
- Mobil purchased 28 percent stake in the Aral German gas chain in 1967.
- In 1972, for all former Enco and Esso outlets, Exxon was unveiled as the new, unified brand name.
- Exxon and Mobil began expanding their exploration and production to the North Sea, the Gulf of Mexico, Africa and Asia as a part of the 1973 oil embargo.
- Mobil set up a MEGAS branch in 1994, which became responsible for the natural gas activities of its Mobile in Europe.
- In 1998, a US$ 73.7 billion merger agreement was signed between Exxon and Mobil to form a new company called Exxon Mobil Corp.
- The deal was approved in 1999 by the European Commission and in 1999 by the Federal Trade Commission of the United States.
- The company sold its stake in Colombia’s Cerrejón coal mine in 2002, and Chile’s copper-mining business.
- By selling its service stations, ExxonMobil began phasing out from the U.S. direct-served retail market in 2008.
- In 2011, ExxonMobil started strategic collaboration with Rosneft, a Russian oil firm, to build the Kara Sea East field and the Black Sea Tuapse region.
- In 2014, ExxonMobil was compensated $1.6 billion by the International Centre for the Settlement of Investment Disputes in the case brought against the Venezuelan government.
- In 2016, ExxonMobil successfully requested that the U.S. federal court lift the trademark injunction prohibiting the use of the Esso brand in different U.S. states.
- During 2017, under the new Trump administration, ExxonMobil’s criminal emissions lawsuits were deemed less possible.
- In 2019, amid the expanded sanctions imposed by Washington D.C. on Iran, a missile landed near the ExxonMobil, Royal Dutch Shell and ENI SpA headquarters.
ExxonMobil is the biggest NGO-owned company in the energy industry, producing around 3% of the world’s oil and around 2% of the world’s energy. For reference purposes, these divisions are grouped into three categories (although the firm also has several additional stand-alone divisions, such as Coal & Minerals):
The upstream division accounts for most of the revenue from ExxonMobil, accounting for about 70 percent of the total. The company has 25.3 billion barrels of oil reserves (4,02109 m3). Its substitution ratio of reserves was 103 percent.
The company has partnerships with pipelines to transport its upstream production such as the Wink to Webster pipeline and the Double E pipeline to transport Permian Basin oil.
The company’s products are under Exxon, Mobil, and Esso brands all over the world. Mobil is the main petrol distribution product for ExxonMobil in California, Florida, New York, New England, the Great Lakes, and the Midwest. Exxon is the main product in the majority of the United States, with the largest number of retail outlets in New Jersey, Ohio, Texas and the Mid-Atlantic and Southeastern states. In Japan, ExxonMobil has a 22% interest in the refining firm, TonenGeneral Sekiyu K.K.
Tools and Processes
- Exploration Technology:
Sound has been an important part of oil and gas exploration for the last five decades. In the process of seismic mapping, sound wave reflections are used to form three dimensional images of geologic formations. The energy industry uses these 3-D images to help decide where to drill, reducing the number of wells needed to produce oil and gas resources.
Today, Exxon Mobil’s proprietary and patented algorithms, combined with investments in supercomputers, achieve the massive calculation task of examining all seismic data to create a picture of the subsurface in richer detail.
- Risk Management and Safety:
The people at ExxonMobil are committed to safeguarding the security and health of their employees, those involved with its operations, its customers and the public. The company believes that the answer lies in three uncompromising pursuits: exceptional technology, rigorous standards and an unwavering commitment to best-practice safety procedures. For example, they closely keep track of storm activity that may affect the areas in which they operate.
- Energy Efficiency:
With cogeneration, Exxon Mobil captures the waste heat and uses it for its manufacturing processes, resulting in a decreased need for boilers, and hence fuel saving that goes with those boilers. Due to its intrinsic energy efficiency, the use of cogeneration leads to reduced greenhouse gas emissions. It’s cogeneration facilities allow the elusion of approximately 6 million metric tons per year of greenhouse gas emissions.
- Drilling and Production Technology:
ExxonMobil takes a strict approach to project execution. Experienced personnel apply established project management systems that allow composite projects to be completed safely and on time. Its execution excellence is built on a solid, experience-based foundation that’s lodged in every project management and safety system.
- Hydraulic Fracturing:
In the process of developing natural energy, hydraulic fracturing is one of several phases. A “conventional” asset must flow to the wellbore at its most basic level, while an “unconventional” resource will not flow on its own. “Unconventional” refers in this context to oil and gas contained in hard rock layers. Hydraulic fracturing is the procedure which splits the cement, causing the inside containing oil and gas to spill into the well. While new technologies have increased the incidence of the use of hydraulic fracturing, it is not a new practice. Over the last six decades, hydraulic fracturing has been used in more than 1 million wells around the globe.
- Natural Gas:
In addition to being geographically and geologically diverse, abundant, reliable and versatile in use (power generation; residential, commercial, industrial heating and cooking, and even transportation), natural gas emits significantly less pollutants than coal generation, particulate matter, mercury, and up to 60% less GHGs. It expects natural gas to meet about 40% of the projected growth in global demand for energy from 2016 to 2040.
ExxonMobil has a vast history of research in the fundamental scientific and engineering propositions essential for the development of oil and gas. Many conventional onshore oil fields are maturing. Meeting rising energy demand requires new production from less conventional resources, like oil sands. The national governments own most of the world’s remaining reserves. Only a fraction of total global oil reserves are accessible for private sector investment, with most of these accessible reserves in Canada’s oil sands.
Some of the famous products supplied by the company fall into the following categories:
- Fuel additives
- Gear Oils
- Industrial oils
- Gorgon LNG
Areas of Operations:
Following is the list of countries, the company is actively working in:
- Caribbean – Guatemala
- United States
- Czech Republic
- European Union
- The Netherlands
- United Kingdom
- Saudi Arabia
- United Arab Emirates
- Chad and Cameroon
- Equatorial Guinea
- Guam Sub-Cluster
- Hong Kong
- New Zealand
- Papua New Guinea
- South Korea
List of Equipments:
- Fuel additives
- Gear Oils,
- Industrial oils
- Gorgon LNG