What is ExxonMobil? Products, Services and History

Table of Contents

 

1. What is ExxonMobil?

ExxonMobil is an American multinational oil and gas corporation that is one of the world’s largest and most powerful companies. It was formed in 1999 by the merger of Exxon and Mobil, both descendants of John D. Rockefeller’s Standard Oil. ExxonMobil operates in various sectors of the energy industry, such as exploration, production, refining, transportation, chemicals, and power generation. It also produces a range of products and services for various industries and markets12

 

 

2. ExxonMobil: Products and Services

ExxonMobil offers a wide range of products and services for various industries and markets, such as energy, chemicals, lubricants, aviation, marine, and more. Some of the products and services that ExxonMobil provides are:

• Lower-emissions fuels to help decarbonize commercial transportation, including aviation and marine1.
• Chemical performance products that enable customer emissions reductions in applications in the agriculture, health and renewable energy sectors1.
• Next-generation lubricants and plastics that improve efficiency for traditional and electric vehicles1.
• Butyl, EPDM rubber, polyethylene, polypropylene, and other polymers for various applications such as packaging, automotive, building, healthcare, and more2.
• Escorez™ tackifiers for hot-melt adhesives used in packaging applications2.
• Proxxima™ thermoset systems for improved performance and efficiency in a broad set of applications2.
• Esso LPG for household and industrial use3.
• Base stocks for lubricant blending3.
• Technology licensing for various processes such as benzene alkylation, gas treating, lubes production, and more2.

You can learn more about ExxonMobil’s products and services by visiting their website.

 

 

3. ExxonMobil: History

• Here is a brief summary of ExxonMobil’s history:

  • Origins: ExxonMobil traces its roots to Vacuum Oil Company, founded in 1866. Vacuum Oil later was acquired by Standard Oil in 1879, divested from Standard in 1911 with its breakup, and merged by the Standard Oil Company of New York (Socony), later known as Mobil, in 193112.
  • Brands and Icons: ExxonMobil has used various brand names and trademarks over the years, such as Esso, Enco, Humble, Gargoyle, Pegasus, and Tiger. Some of these icons have become synonymous with quality, power, and speed3.
  • Products and Innovations: ExxonMobil has been involved in the production and distribution of various petroleum and petrochemical products, such as gasoline, kerosene, lubricants, rubbing alcohol, and synthetic rubber. ExxonMobil has also pioneered many innovations in the field of energy, such as micropaleontology, Speedpass+™ app, and Fuel Technology Synergy™ gasolines13.
  • Mergers and Acquisitions: ExxonMobil has grown through several mergers and acquisitions over the years, such as the acquisition of Humble Oil & Refining Company in 1919, the merger of Exxon Corporation (formerly Jersey Standard) and Mobil Oil Corporation (formerly Socony-Vacuum Oil) in 1999, and the acquisition of XTO Energy in 201012.

 

 

4. ExxonMobil: Competitors

ExxonMobil is a leading oil and gas company that operates in various segments of the energy industry. Some of its main competitors are:

• bp: A British multinational energy company that engages in oil and gas exploration, production, refining, and renewable energy sources. bp had net earnings of $2.9 billion in 20191.
• Chevron: An American energy company that has integrated petroleum, chemicals, mining, and power generation operations. Chevron had total earnings of $2.9 billion in 2019, and its annual per-share dividend payout rose for the thirtieth consecutive year1.
• Valero: A U.S.-based manufacturer and marketer of transportation fuels and petrochemical products. Valero had net income of $2.4 billion in 2019, and it returned $4.7 billion to shareholders through dividends and stock buybacks2.
• Shell: A Dutch-British energy company that specializes in oil and gas exploration, production, refining, and marketing, as well as chemicals and renewables. Shell had net earnings of $15.8 billion in 2019, and it invested $2.3 billion in low-carbon energy solutions1.
• Aramco: A Saudi Arabian state-owned oil company that produces, distributes, and exports crude oil, natural gas, and petrochemicals. Aramco had net income of $88.2 billion in 2019, and it paid $73.2 billion in dividends to its shareholders3.
• Sinopec: A Chinese state-owned oil and gas company that engages in exploration, production, refining, and petrochemicals. Sinopec had net profit of $7.8 billion in 2019, and it increased its natural gas output by 7.2%4.

 

 

5. ExxonMobil: CEO

The CEO and chairman of ExxonMobil is Darren W. Woods. He has been in this position since January 1, 2017, succeeding Rex W. Tillerson, who became the United States Secretary of State under President Donald Trump. Woods has a bachelor’s degree in electrical engineering from Texas A&M University and an MBA from Northwestern University’s Kellogg School of Management. He joined Exxon in 1992 and has held various leadership roles in the company’s refining, chemical, and supply and transportation divisions. He is also the chairman of the National Petroleum Council and a board member of the American Petroleum Institute and the Center for Strategic and International Studies. Woods is a supporter of the Paris climate accord and has urged the U.S. to remain a party to the agreement. He has also overseen ExxonMobil’s expansion in shale oil and gas production and its investments in low-carbon energy solutions123

1: Management Committee | ExxonMobil 2: Darren Woods - Wikipedia 3: Darren W. Woods - ExxonMobil

 

 

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