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Exxon Mobil Corporation: Global Player

July 20, 2015

Exxon Mobil Corporation is headquartered in Irving, Texas. The conglomerate explores for and produces crude oil and natural gas in the United States, Canada/South America, Europe, Africa, Asia, and Australia/Oceania. It was formed in 1999 by the merger of two major oil companies, Exxon and Mobil. Both Exxon and Mobile were descendants of the John D. Rockefeller corporation, Standard Oil,which was established in 1870.

The reputation of Standard Oil wasn’t exactly that good especially with bad publicity against the company. This reached a crescendo in 1911 with the Supreme Court of the United States ruling that Standard Oil must be dissolved and split into 34 companies. One of these companies, Jersey Standard (“Standard Oil Co. of New Jersey”) eventually became Exxon. Another company, Socony ( Standard Oil Co. of New York”), would eventually become Mobil.

Exxon Mobil markets products around the world under the brands, Exxon, Mobile, and Esso. Mobil is the firm’s primary retail gasoline brand in California, Florida, New York, New England, the Great Lakes and the Midwest. Exxon is the primary brand in the rest of the United States, with the highest concentration of retail outlets located in New Jersey, Pennsylvania, Texas and in the Mid-Atlantic and Southeastern states. Esso is Exxon Mobil’s primary gasoline brand worldwide except in Australia and New Zealand, where the Mobil brand is used exclusively. In Columbia, both the Esso and Mobil brands are used.

Exxon Mobil is one of the largest companies in the world. Its 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. With 37 refineries in 21 countries constituting a combined daily refining capacity of 6.3 million barrel (1,000,000 m3), Exxon Mobil is the largest refiner in the world, a title that was also associated with Standard Oil since its incorporation in 1870.

The company trades on the New York Stock Exchange under the symbol XOM.

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