Exxon Mobil Corp. (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 Company, and was formed on November 30, 1999 by the merger ofExxon (originally the Standard Oil Company of New Jersey) and Mobil (originally the Standard Oil Company of New York).
The world's 5th largest company by revenue, ExxonMobil is also the third largest publicly traded company by market capitalization. The company was ranked No. 6 globally in Forbes Global 2000 list in 2014.[6] ExxonMobil was the second most profitable company in the Fortune 500 in 2014.[7]
ExxonMobil is the largest of the world's supermajors[8] with daily production of 3.921 million BOE. In 2008, this was approximately 3 percent of world production, which is less than several of the largest state-owned petroleum companies.[9] When ranked by oil and gas reserves, it is 14th in the world—with less than 1 percent of the total.[10][11] ExxonMobil's reserves were 25.2 billion BOE (barrels of oil equivalent) at the end of 2013 and the 2007 rates of production were expected to last more than 14 years.[12] 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 largest refiner in the world,[13][14][15] a title that was also associated with Standard Oil since its incorporation in 1870.[16]
ExxonMobil has been subject to numerous criticisms, including the lack of speed during its cleanup efforts after the 1989 Exxon Valdez oil spill in Alaska, widely considered to be one of the world's worst oil spills in terms of damage to the environment. ExxonMobil has also drawn criticism for its history of lobbying in attempts to discredit the idea that climate change is caused by the burning offossil fuels, something that modern scientific consensus largely thwarted. 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.
THROWBACKTHISDAY ; makes it 16 years and TBT Blog remembers.
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