Exxon Mobil Corporation (ExxonMobil)

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Sources Persagen.com  |  Wikipedia  |  other sources (cited in situ)
Source URL https://en.wikipedia.org/wiki/ExxonMobil
Date published 2021-10-29
Curation date 2021-10-29
Curator Dr. Victoria A. Stuart, Ph.D.
Modified
Editorial practice Refer here  |  Date format: yyyy-mm-dd
Summary Exxon Mobil Corporation (ExxonMobil) is an American multinational oil and gas corporation headquartered in Irving, Texas (incorporated in New Jersey). ExxonMobil's primary brands are ExxonMobil, Esso, and ExxonMobil Chemical. One of the world's largest companies by revenue, ExxonMobil from 1996 to 2017 varied from the first to sixth largest publicly traded company by market capitalization.
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Exxon Mobil Corporation (ExxonMobil)
exxonmobil-logo.png
 
Corporate Information
 
Name Exxon Mobil Corporation (ExxonMobil)
Founded 1999-11-30
Descended from Standard Oil  (John D. Rockefeller)
Type Public company
ISIN US30231G1022
Traded as NYSE: XOM  (S&P 100S&P 500)
Location Global
Headquarters Irving, Texas, U.S.A.
Areas served Global
Industry
Predecessor
CEO Darren W. Woods
Chairman Darren W. Woods
Controversies
Products
Brands
Revenue 2020: US$178.57 billion
Operating income 2020: (US$29.45 billion) (decrease)
Total assets 2020: US$332.75 billion
Total equity 2020: US$157.15 billion
Employees 2020: 72,000
Subsidiaries
Website Corporate.ExxonMobil.com
Contents

Background

Exxon Mobil Corporation, stylized as ExxonMobil, is an American multinational oil and gas corporation headquartered in Irving, Texas. ExxonMobil is the largest direct descendant of John D. Rockefeller's  Standard Oil, and was formed on 1999-11-30, by the merger of Exxon (formerly the Standard Oil Company of New Jersey) and Mobil (formerly the Standard Oil Company of New York). ExxonMobil's primary brands are Exxon,  Mobil, Esso, and ExxonMobil Chemical. ExxonMobil is incorporated in New Jersey.

One of the world's largest companies by revenue, ExxonMobil from 1996 to 2017 varied from the first to sixth largest publicly traded company by market capitalization. ExxonMobil was ranked third globally in the Forbes Global 2000 list in 2016, and was the tenth most profitable company in the Fortune 500 in 2017. As of 2018, the company ranked second in the Fortune 500 rankings of the largest United States corporations by total revenue. Approximately 55.56% of the company's shares are held by institutions. As of March 2019, ExxonMobil's largest shareholders include The Vanguard Group (8.15%)  [founder of the dark money funder the Vanguard Charitable Endowment Program],   BlackRock (6.61%), and State Street Corporation (4.83%).

ExxonMobil is one of the largest of the world's Big Oil companies. As of 2007, it had daily production of 3.921 million BOE (barrels of oil equivalent); but significantly smaller than a number of national companies. In 2008, this was approximately 3% of world production, which is less than several of the largest state-owned petroleum companies. When ranked by oil and gas reserves, it is 14th in the world - with less than 1% of the total. ExxonMobil's reserves were 20 billion BOE at the end of 2016 and the 2007 rates of production were expected to last more than 14 years. 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 seventh largest refiner in the world, a title that was also associated with Standard Oil since its incorporation in 1870.

ExxonMobil had been criticized for its slow response to cleanup efforts after the 1989 Exxon Valdez oil spill in Alaska, considered to be one of the world's worst oil spills in terms of damage to the environment. ExxonMobil has a history of lobbying for climate change denial and against the scientific consensus that global warming is caused by the burning of fossil fuels. ExxonMobil 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.


  • This is a draft article [additional content pending ...].

  • Additional Reading

  • [📌 pinned article] [Paul D. Thacker, DeSmog.com, 2021-10-29] In Their Own Words: The Dirty Dozen Documents of Big Oil's Secret Climate Knowledge.  Science historian Ben Franta unpacks some of the most critical documents exposing what the fossil fuel industry knew and when they knew it.  |  local copy


  • [CTVNews.ca, 2021-10-28] Exxon CEO Darren Woods denies spreading disinformation on climate change

  • [IndependentMediaInstitute.org, 2021-10-26] Despite Cutbacks, ExxonMobil Continues to Fund Climate Science Denial.  ExxonMobil has spent more than $39 million to manufacture doubt about climate science.

  • [IndependentMediaInstitute.org, 2021-10-12] To Find Out If ExxonMobil Really Supports a Carbon Tax, Just Follow the Money.  Despite claiming to endorse a carbon tax, ExxonMobil has funneled millions of dollars to lawmakers who oppose the idea.  |  Keith McCoy, the Exxon Mobil lobbyist who revealed industry climate strategies in a secretly recorded video, no longer works for the oil giant.

  • [Bloomberg.com, 2020-10-05]  Exxon's Plan for Surging Carbon Emissions Revealed in Leaked Documents.  Internal projections from one of world's largest oil producers show an increase in its enormous contribution to global warming.

  • [ReadSludge.com, 2021-08-03] Exxon Lobbyist Caught on Tape Is an Advisor to Congressional Black Caucus Foundation.  The lobbyist, Keith McCoy, was caught on video discussing how his company has fought climate science and worked to stop Congress from passing climate bills. The CBC Foundation has declined to boot him from its advisory board.

  • [2020-06-25]  DC Is the Latest to Sue Exxon and Big Oil for Climate Disinformation Campaigns

  • [2020-06-24]  Minnesota Attorney General Sues Exxon, Koch and API for Climate Deception

  • [2020-06-09]  "must-read:Bradley [Foundation] Spent Millions on Voter Suppression, Union Busters, Climate Deniers, and Right-Wing Media in 2019.  As part of Bradley's strategic vision, it invests in groups to defund and dismantle unions, to fuel a web of climate change deniers, and to prop up right-wing media

  • [2020-05-27]  Exxon, Amazon and Facebook Should Heed Shareholders' Calls for Political Activity Disclosure, Removal of Political Misinformation.  Misinformation, undisclosed political spending continue to undermine our democracy

  • [2020-05-20]  Exxon Sued Again for 'Misleading' Advertising.  Mentions: BP plc

  • [2020-02-06]  ExxonMobil Got Congress to Trade Arms for Offshore Gas.  Mentions: AmCham Cyprus | American Hellenic Educational Progressive Association | American Jewish Committee | Christians United for Israel | Seth Cropsey | Eastern Mediterranean Security and Energy Partnership Act (Senators Bob Menendez, Marco Rubio) | ExxonMobil | General Atomics | Hellenic American Leadership Council | Hudson Institute | Paul Manafort | Secretary of State Mike Pompeo | Prime Policy Group (successor to Black, Manafort, Stone and Kelly) | Qatar Petroleum | Senator Chuck Schumer | Roger Stone | Trump White House | Bulgaria; Cyprus; Greece; Israel; Italy

  • [2020-01-15]  ExxonMobil Is the Most Damaging Tech Company.

  • [2020-01-08]  Imperial Oil, Canada's Exxon Subsidiary, Ignored Its Own Climate Change Research for Decades, Archive Shows.

  • [2005-{05/06} issue]  Put a Tiger In Your Think Tank.  ExxonMobil has pumped more than $8 million into more than 40 think tanks; media outlets; and consumer, religious, and even civil rights groups that preach skepticism about the oncoming climate catastrophe. Herewith, a representative overview.


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