ExxonMobil

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American multinational oil and gas corporation

ExxonMobil Corporation

Type	Public
Traded as	NYSE: XOM
Key people	Darren Woods (Chairman and CEO)
Industry	Oil and gas
Products	Crude oil, natural gas, petrochemicals, fuels, lubricants
Revenue	$276.69 billion (2021)
Operating income	$23.04 billion (2021)
Net income	$23.04 billion (2021)
Assets	$338.91 billion (2021)
Equity	$157.15 billion (2021)
Employees	72,000 (2021)
Website	[corporate.exxonmobil.com Official website]

ExxonMobil Corporation 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 and was formed on November 30, 1999, by the merger of Exxon and Mobil. ExxonMobil is one of the largest publicly traded companies in the world by both revenue and market capitalization.

History

ExxonMobil's roots trace back to the late 19th century with the establishment of Standard Oil by John D. Rockefeller. Standard Oil was a dominant force in the oil industry until it was broken up by the United States Supreme Court in 1911 under the Sherman Antitrust Act. The breakup resulted in the creation of 34 separate companies, including Jersey Standard (which later became Exxon) and Socony-Vacuum (which later became Mobil).

In 1999, Exxon and Mobil merged to form ExxonMobil, creating one of the world's largest oil companies. The merger was valued at $81 billion and was one of the largest corporate mergers in history.

Operations

ExxonMobil operates in three main segments:

• Upstream: Exploration and production of crude oil and natural gas.
• Midstream: Transportation and storage of oil and gas.
• Downstream: Refining, marketing, and distribution of petroleum products.

The company also has a significant presence in the petrochemical industry, producing plastics, synthetic rubber, and other chemical products.

Environmental Impact

ExxonMobil has faced criticism and legal challenges over its environmental practices, particularly regarding its role in climate change. The company has been accused of downplaying the risks of climate change and funding organizations that promote climate change denial. ExxonMobil has also been involved in several major oil spills, including the Exxon Valdez oil spill in 1989, which had a devastating impact on the environment in Prince William Sound, Alaska.

Corporate Governance

ExxonMobil's corporate governance structure includes a Board of Directors, which oversees the company's management and operations. The current Chairman and CEO is Darren Woods, who has held the position since January 1, 2017.

See also

• Standard Oil
• Exxon Valdez oil spill
• Climate change
• Petroleum industry
• John D. Rockefeller
• Darren Woods