Exxon Mobil Corporation Exxon Mobil Corporation is one of the leading oil and gas companies in the world, providing varied products and services to its worldwide consumers. The corporation is involved in geologic exploration of oil resources, extraction of ores, refining, production, marketing and distribution of oil and gas products worldwide…
The company headquarters are at Irving in Texas and employs about 80,000 people (mbaknol.com, 2012). Exxon Mobil has been marked with a higher market value than any other publicly-traded company in the world. History: Exxon Mobil Corporation is a merger of Exxon and Mobil, two great oil industry titans in the past century. The historic background of these two companies is a notable one and heads back to 19th century, when these two companies were established. Standard Oil Company of New Jersey (Exxon) and Standard Oil Companies of New Jersey (Mobil) were formed from John D. Rockfeller’s Standard Oil Trust which was started in 1870. With the increase in oil resources and implementation of various advanced techniques, they emerged as greatest oil corporations and formed individual identities for each. They indeed created a great impact to the American economy in the past century. Even after the dissolution of Standard Oil Trust in 1911, they subsisted to expand and grew in terms of their production, refining and research, making them leading companies in the oil and gas industry. Since the end of the World War 2, the company expanded its market to more than 100 countries. The companies stayed separate for nearly 87 years, until they signed a definitive agreement that the two would merge and form a new company, namely, Exxon Mobil Corporation. ...
Current Operations and Projects: Exxon Mobil involves in three major operations, mainly upstream, downstream and chemicals. Being the leading oil company in the world, Exxon Mobil has faced various ups and downs in the recent decades. For instance, In February 2010, Exxon Mobil reported $310.58 billion in revenue in fiscal year 2009. In fiscal year 2008, it reported $477.35 billion in revenue. (Taque, 2010). It is estimated that though there are rises in oil prices, there will be higher downstream revenue with the increasing demand for the energy resources among the developing countries. There was a decline in liquids production of the company which was subsequently compensated by the increase of the gas production. Exxon has come up with a discovery in the Gulf of Mexico in the past year and is beginning to work over the Julia deepwater fields in the future. The company has set up establishing new explorations in the Gulf of Mexico and in the Russian Arctic area. “More exploration is expected to happen in the U.S. with the government selling leases in the GoM and granting licenses in Alaska.” (Forbes, 2012). Its major development project includes the Kashakan project at Kazakhstan and the West Qurna field which is showing a great progress. The gas output of the company has been greatly increased by the shale exploration in U.S. “Exxon is also a partner in the $15.7 billion Papua New Guinea LNG project in Australia”. (Forbes, 2012). With its ongoing projects at Iraq, Kazakhstan and LNG projects in Australia, the company’s output volume will favorably increase with its production. Exxon Mobil is currently conducting test runs at its new ...
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