Exxon Mobil Corporation , running the business as ExxonMobil , is an American multinational oil and gas company headquartered in Irving, Texas. It is the largest direct descendant of the John D. Rockefeller Standard Oil Company, and was formed on 30 November 1999 by the merger of Exxon (formerly New Jersey Standard Petroleum Company) and Mobil (formerly New York Standard Petroleum Company).
The 10th largest company in the world by revenue, ExxonMobil from 1996 to 2017, varies from the first to sixth publicly listed companies by market capitalization. The company is ranked ninth globally in the Forbes Global 2000 list by 2016. ExxonMobil is the second most profitable company in Fortune 500 in 2014.
ExxonMobil is the world's largest Big Oil company, or supermajor, with daily production of 3.921 million BOE (barrels of oil equivalent); but significantly smaller than a number of national companies. In 2008, this was about 3 percent of world production, which is less than some of the largest state-owned petroleum companies. When ranking based on oil and gas reserves, it is the 14th in the world - with less than 1 percent of the total. ExxonMobil reserves are 20 billion BOE by the end of 2016 and 2007 production levels are expected to last more than 14 years. With 37 oil refineries in 21 countries representing a combined daily refining capacity of 6.3 million barrels (1,000,000 m 3 ), ExxonMobil is the world's largest refiner, a title also attributed to Standard Oil since its incorporation into year 1870.
ExxonMobil has been criticized for its slow response to cleanup efforts after the 1989 Exxon Valdez oil spill in Alaska, widely regarded as one of the worst oil spills in the world in terms of environmental damage. ExxonMobil has a history of lobbying for denial of climate change and contradicts the scientific consensus that global warming is caused by the burning of fossil fuels. The company has also been subjected to unfair allegations of addressing human rights issues, influence on American foreign policy, and its impact on the future of nations.
Video ExxonMobil
History
ExxonMobil was formed in 1999 by the merger of two major oil companies, Exxon and Mobil.
1870 to 1911
Both Exxon and Mobil are descendants of Standard Oil, founded by John D. Rockefeller and partners in 1870 as the Ohio Standard Oil Company. In 1882, together with its affiliated companies was established as Standard Oil Trust with Standard Oil Company New Jersey and Standard Oil Company New York as its largest company. The Anglo-American Oil Company was established in England in 1888. In 1890, Standard Oil, along with local ship merchants in Bremen founded the Deutsch-Amerikanische Petroleum Gesellschaft (later: Esso A.G.). In 1891, the sales branch for the Netherlands and Belgium, American Petroleum Company, was established in Rotterdam. In the same year, the sales branch for Italy, SocietÃÆ' Italo Americana pel Petrolio , was established in Venice.
The Standard Oil Trust was dissolved under the Sherman Antitrust Act in 1892; However, it reappears as the Standard Oil Flower. In 1893, the Chinese and whole kerosene markets were assigned to the New York Standard Petroleum Company to increase trade with Asian partners. In 1898, Standard Oil of New Jersey acquired a controlling stake in Imperial Oil of Canada. In 1899, the New Jersey Standard Petroleum Company became the parent company for Standard Oil Flower. The anti-monopoly process of Standard Oil was launched in 1898. Standard Oil's reputation in the public eye was very bad after the publication of the classical exposition of Ida M. Tarbell. History of Standard Oil Co. in 1904, generating growing criticism for the government to take action against the company. In 1911, with public outcry at its peak, the United States Supreme Court ruled that Standard Oil should be dissolved and divided into 34 companies. Two of these companies are Jersey Standard ("Standard Oil Co. of New Jersey"), which eventually became Exxon, and Socony ("Standard Oil Co. of New York"), which eventually became Cars.
1911 to 1950
Over the next few decades, the Jersey Standard and Socony grew significantly. John Duston Archbold is the first president of the Jersey Standard. Archbold was followed by Walter C. Teagle in 1917, making it the largest oil company in the world. In 1919, the Jersey Standard acquired a 50% interest in Humble Oil & amp; Refining Co., Texas oil producer. In 1920, it was listed on the New York Stock Exchange. In subsequent years he acquired or founded the Colombian Tropical Oil Company (1920), Venezuelan Petroleum Standard Company (1921), and Venezuela's Creole Oil Company (1928).
Henry Clay Folger was the head of Socony until 1923, when he was replaced by Herbert L. Pratt. The emerging automotive market inspired the trademark of Mobiloil product, which was registered by Socony in 1920. After the dissolution of Standard Oil, Socony had purification and marketing assets but no production activities. For this reason, Socony purchased a 45% interest in Magnolia Petroleum Co., a major refiner, marketer and pipe transporter, in 1918. In 1925, Magnolia became wholly owned by Socony. In 1926, Socony bought General Petroleum Corporation of California. In 1928, Socony joined the Turkish Petroleum Company (Iraqi Petroleum Company). In 1931, Socony joined the Vacuum Oil Company, an industry pioneer in 1866, to form Socony-Vacuum.
In the Asia-Pacific region, the Standard Jersey has been established through its subsidiaries in the Netherlands as an exploration and production company of Nederlandsche Koloniale Petroleum Maatschappij in 1912. In 1922, he discovered oil in Indonesia and in 1927 he build a refinery in Sumatra. It has oil production and refineries but no marketing network. Socony-Vacuum has an Asian marketing outlet supplied remotely from California. In 1933, the Jersey Standard and Socony-Vacuum combined their interests in the Asia-Pacific region into a 50-50 joint venture. The Standard Vacuum Oil Company, or "Stanvac," operates in 50 countries, from East Africa to New Zealand, before being dissolved in 1962.
In 1924, the Jersey Standard and General Motors collected tetraethyllead-related patents and established Ethyl Gasoline Corporation. In 1927, the Jersey Standard signed a 25-year cooperation agreement with IG Farben for coal hydrogenation research in the United States. The Jersey Standard considers this cooperation fruitful because it believes that US oil reserves will be exhausted in the near future and that hydrogenation of coal will provide access to produce synthetic fuels. It set up a synthetic fuel plant in Bayway, Baton Rouge, and Baytown (unfinished). Interest in hydrogenation evaporated after the discovery of the East Texas Oil Field. As part of a joint venture between Jersey Standard and IG Farben, a joint venture, Standard I.G. The company, founded with Jersey Standard has a stake of 80%. IG Farben transferred the rights to the hydrogenation process outside Germany to the joint venture with an exchange of $ 35 million in Standard Jersey stock. In 1930, the joint venture established the Hydro Patent Company to license the hydrogenation process in the United States. The agreement with IG Farben granted access to the Jersey Stand for patents relating to polyisobutylene which helped the Jersey Standard to advance in isobutolene polymerisation and to produce the first butyl rubber in 1937. Since the agreement with IG Farben granted veto power to German companies to license the chemical industry patent in the United States, including a patent for butyl rubber, Standard Jersey is accused of treason by Senator Harry S. Truman. In 1941, he opened the first commercial synthetic toluene plant.
In 1932, the Jersey Standard acquired foreign assets from Pan American Petroleum and Transport Company. In 1937, its assets in Bolivia were nationalized, followed by the nationalization of its assets in Mexico in 1938.
In 1935, Socony Vacuum Oil opened a gigantic Mammoth Oil Seaport on Staten Island that has the capacity to handle a quarter of a billion gallons of petroleum products annually and can transport oil from abundant tankers and barges. In 1940, Socony-Vacuum bought Gilmore Oil Company of California, which 1946 merged with another subsidiary, General Petroleum Corporation. In 1947, the Jersey Standard and Royal Dutch Shell established the Nederlandse Aardolie Maatschappij BV joint venture for oil and gas exploration and production in the Netherlands. In 1948, the Jersey Standard and Socony-Vacuum acquired interest in Arab-American Oil Company (Aramco).
1950 to 1972
In 1955, Socony-Vacuum became the Socony Mobil Oil Company. In 1959, the Magnolia Petroleum Company, the General Petroleum Corporation, and the Mobil Producing Company merged to form the Mobil Oil Company, a wholly owned subsidiary of Socony Mobil. In 1966, Socony Mobil Oil Company became a Car Oil Company.
Humble Oil became a wholly owned subsidiary of the Jersey Standard and reorganized into the United States Standard Jersey marketing division in 1959. In 1967, Humble Oil purchased all remaining Signal stations from Standard Oil Company of California (Chevron). In 1969, Humble Oil is opened. a new refinery in Benicia, California.
In Libya, the Jersey Standard made its first major oil discovery in 1959.
Mobil Chemical Company was founded in 1960 and Exxon Chemical Company (first named Enjay Chemicals) in 1965.
In 1965, the Jersey Standard began acquiring coal assets through Carter Oil affiliates (later renamed: Exxon Coal, U.S.). To manage Midwest and Eastern coal assets in the United States, the Monterey Coal Company was established in 1969. Carter Oil focuses on the development of synthetic fuels from coal. In 1966, he began to develop a coal liquefaction process called the Exxon Donor Solvent Process. In April 1980, Exxon opened a 250 ton demonstration plant per day in Baytown, Texas. The factory was closed and dismantled in 1982.
In 1967, Mobil acquired a 28% strategic share in the German fuel chain Aral.
In the late 1960s, the Jersey Standard task force looked for a 30-year project in the future. In April 1973, Exxon established Solar Power Corporation, a wholly owned subsidiary for the manufacture of terrestrial photovoltaic cells. After the 1980s, Exxon's internal oil report projected that the sun would not be viable until 2012 or 2013. As a result, Exxon sold its Solar Power Corporation in 1984. In 1974-1994, Mobil also developed solar energy through Tyco Solar Energy Corporation, a joint venture with Tyco Laboratories.
In the late 1960s, the Jersey Standard entered the nuclear industry. In 1969, he created a subsidiary, Jersey Nuclear Company (later: Exxon Nuclear Company), for the manufacture and marketing of uranium fuels, to be made from uranium concentrates mined by the Humble Oil ministry (later: Exxon Minerals Company). In 1970, Jersey Nuclear opened a nuclear fuel manufacturing facility, now owned by Areva, in Richland, Washington. In 1986, Exxon Nuclear was sold to the Kraftwerk Union, a Siemens nuclear agency. The company started mining uranium ore surface in Converse County, Wyoming, in 1970, mining solutions in 1972, and underground mining in 1977. The processing of uranium ore began in 1972. The facility was closed in 1984. In 1973, Exxon acquired the Ray Point uranium ore processing facility that was soon closed.
1972 to 1998
In 1972, Exxon was inaugurated as a brand new and integrated name for all former Enco and Esso outlets. At the same time, the company changed its company name from Standard Oil of New Jersey to Exxon Corporation, and Humble Oil to Exxon Company, USA. The name change came after successful test marketing on behalf of Exxon, under two experimental logos, in the fall and winter of 1971-72. Along with the new name, Exxon settles on the rectangular logo using red letters and blue lines on a white background, similar to the familiar color scheme on the old Enco and Esso logos. Exxon replaced the Esso, Enco, and Humble brands in the United States on January 1, 1973.
Due to the 1973 oil embargo, Exxon and Mobil began to expand their exploration and production to the North Sea, the Gulf of Mexico, Africa and Asia. The automaker diversified its activities into retail sales by acquiring the holding company Montgomery Ward and Container Corporation.
In 1976, Exxon, through its subsidiary Intercor, established a partnership with Colombian state-owned Carbocol to start coal mining in CerrejÃÆ'³n. In 1980, Exxon merged its assets into the minerals industry into the newly established Exxon Minerals (later ExxonMobil Coal and Minerals). In the same year, Exxon entered the oil shale industry by purchasing a 60% stake in Colony Shale Oil Project in Colorado, USA, and a 50% interest in Rundle's oil deposit in Queensland, Australia. On May 2, 1982, Exxon announced the suspension of the Shale Colony Oil Project due to low oil prices and increased costs.
The car moved its headquarters from New York to Fairfax County, Virginia, in 1987. Exxon sold Exxon Building (1251 Avenue of the Americas), a former headquarters in Rockefeller Center, to unit Mitsui Real Estate Development Co. Ltd. in 1986. For $ 610 million, and in 1989, moved its headquarters from Manhattan, New York City to Las Colinas area in Irving, Texas. John Walsh, president of Exxon's subsidiary, Friendswood Development Company, stated that Exxon was leaving New York because the cost was too high.
On March 24, 1989, Exxon Valdez oil tanker attacked Bligh Reef in Prince William Sound, Alaska, and spilled over 11 million gallons of US (42,000 m 3 ) of crude oil. The Exxon Valdez oil spill is the second largest in US history, and after the Exxon Valdez incident, the US Congress passed the Oil Pollution Act of 1990. The initial award of $ 5 billion USD judicial proceedings was reduced to $ 507.5 million by the US Supreme Court in June 2008, and the distribution of this award has begun.
In 1994, Mobil established a subsidiary of MEGAS (Mobil European Gas) which became responsible for the operation of its natural gas Mobil in Europe. In 1996, Mobil and British Petroleum combined European refining and marketing for the fuel and lubricant business. The automaker has a 30% interest in fuel and 51% stake in the lubricant business.
In 1996, Exxon entered the Russian market by signing a production sharing agreement on the Sakhalin-I project.
1998 to 2000
In 1998, Exxon and Mobil signed a $ 73.7 billion merger agreement forming a new company called Exxon Mobil Corp. (ExxonMobil), the largest oil company and the third largest company in the world. It was the largest corporate merger of the time. At the time of the merger, Exxon is the world's largest energy company while Mobil is the second largest oil and gas company in the United States. The merger announcement followed soon after the merger of British Petroleum and Amoco which was the biggest industry merger of the time. Formally, Cars are bought by Exxon. Car shareholders receive 1.32 shares of Exxon for each Car share. As a result, former Car shareholders receive about 30% in the joint venture while the former shareholders of Exxon shareholders are approximately 70%. Exxon chief Lee Raymond remains the chairman and chief executive of the new company and chief executive Mobil Lucio Noto becomes vice chairman. The merger of Exxon and Mobil is unique in American history because it brings together the two largest companies of the trust of Standard Oil.
This incorporation was approved by the European Commission on 29 September 1999, and by the United States Federal Trade Commission on 30 November 1999. As a condition for the merger of Exxon and Mobil, the European Commission ordered to dissolve Mobil's partnership with BP, as well as to sell its stake in Aral. As a result, BP acquired all fuel assets, two basic oil factories, and an important part of the joint venture's lubricant business, while ExxonMobil acquired another base oil plant and part of its already-built lubricant business. The stake in Aral was sold to Vega Oel, then acquired by BP. The European Commission is also demanding the divestment of MEGAS and Exxon Mobil shares at 25% at German gas transmission company Thyssengas. MEGAS was acquired by Duke Energy and shares in Thyssengas acquired by RWE. The Company is also divesting Exxon's aviation fuel business to BP and the capacity of a particular Pipeline Car serving Gatwick Airport. The Federal Trade Commission was asked to sell 2,431 gas stations in Northeast and Mid-Atlantic (1,740), California (360), Texas (319), and Guam (12). In addition, ExxonMobil must sell Benicia Refineries in California, terminal operations in Boston, Washington, DC and Guam areas, interest in colonial pipelines, Car interest in Trans-Alaska Pipeline Systems, Exxon jet turbine business, and provide options for buying gas stations Tosco Corporation. The Benicia Refinery and 340 Exxon-branded stations in California were purchased by Valero Energy Corporation in 2000.
2000 to present
In 2002, the company sold its stake in the CerrejÃÆ'³n coal mine in Colombia, and the copper mining business in Chile. At the same time, it renewed its interest in shale oil by developing the ExxonMobil Electrofrac in-situ extraction process. In 2014, the Land Management Bureau approved the research and development of their project in Rio Blanco County, Colorado. However, in November 2015 the company unleashed a federal research, development, and demonstration rental. In 2009, ExxonMobil halted coal mining by selling its last operational coal mine in the United States.
In 2008, ExxonMobil started out of the retail market served directly by the United States by selling its service station. The use of Exxon and Car brands is a franchise to new owners.
In 2010, ExxonMobil bought XTO Energy, the company focused on the development and production of unconventional resources.
In 2011, ExxonMobil embarked on a strategic partnership with Russian oil company Rosneft to develop the East-Prinovozemelsky field in the Kara Sea and the Tuapse field on the Black Sea. In 2012, ExxonMobil concluded an agreement with Rosneft to assess the possibility to produce tight oil from the Bazhenov and Achimov formations in Western Siberia. In 2018, due to international sanctions imposed on Russia and Rosneft, ExxonMobil announced that it would end an ethnic joint venture with Rosneft, but would continue the Sakhalin-I project. The company estimates it will cost about $ 200 million after tax.
In 2012, ExxonMobil initiated the development of methane gas in Australia, but withdrew from the project in 2014.
In 2012, ExxonMobil confirmed an agreement for production and exploration activities in the Iraqi Kurdistan region.
In November 2013, ExxonMobil agreed to sell its majority stake in a Hong Kong-based energy and utility company, Castle Peak Co Ltd, for a total of $ 3.4 billion, to CLP Holdings.
In 2014, ExxonMobil has two "non-monetary" asset swap transactions with LINN Energy LLC. In this transaction, ExxonMobil grants LINN interests in the South Belridge and Hugoton gas fields in exchange for assets at the Permian Basin in Texas and Delaware Basin in New Mexico.
On October 9, 2014, the International Center for Investment Dispute Settlement gave ExxonMobil $ 1.6 billion in a case filed against the Venezuelan government. ExxonMobil alleged that the Venezuelan government illegally seized its assets in Venezuela in 2007 and paid unfair compensation.
In September 2016, the Securities and Exchange Commission contacted ExxonMobil, questioning why (unlike some other companies) they have not started writing down the value of their oil reserves, given that many must stay underground to adhere to future climate change. Constitution. Mark Carney has expressed concern about the industry's "stranded assets". In October 2016, ExxonMobil acknowledged that it may need to declare a lower value for oil in the ground, and may account for about a fifth of its reserves.
On December 13, 2016, ExxonMobil's CEO, Rex Tillerson, was nominated as Secretary of State by President-elect Donald Trump.
In January 2017, the Federal ExxonMobil climate investigation was deemed less likely under the new Trump Administration.
On January 9, 2017, it was revealed that Infineum, a joint venture company of ExxonMobil and Royal Dutch Shell headquartered in the UK, is doing business with Iran, Syria and Sudan while the states are under US sanctions. ExxonMobil's representative said that since Infineum is based in Europe and the transaction does not involve US employees, this does not violate sanctions.
Maps ExxonMobil
Operation
ExxonMobil is the largest non-governmental company in the energy industry and produces about 3% of the world's oil and about 2% of the world's energy.
ExxonMobil is managed functionally into a number of global operations divisions. These divisions are grouped into three categories for reference purposes, although the company also has several additional divisions, such as Coal & amp; Minerals, stand-alone. It also has hundreds of smaller subsidiaries such as Imperial Oil Limited (69.6% ownership) in Canada, and SeaRiver Maritime, a petroleum shipping company.
- Upstream (oil exploration, extraction, shipping, and wholesale operations) based in Houston, Texas
- Downstream (marketing, refineries and retail operations) based in Houston
- Chemical division based in Houston, Texas
Hulu
The upstream division makes up most of ExxonMobil's revenue, accounting for about 70% of the total. By 2014, the company has 25.3 billion barrels (4,02 ÃÆ'â € 10 9
In the United States, ExxonMobil oil exploration and production activities are concentrated in Permian Basin, Bakken Formation, Woodford Shale, Caney Shale, and the Gulf of Mexico. In addition, ExxonMobil has several gas developments in the Marcellus Shale region, Utica Shale, Haynesville Shale, Barnett Shale, and Fayetteville Shale. All natural gas activities are carried out by its subsidiary, XTO Energy. As of December 31, 2014, ExxonMobil has 14.6 million hectares (59,000 km 2 ) in the United States, of which 1.7 million acres (6,900 km 2 ) are offshore , 1.5 million hectares (6,100 km 2 ) located in the Gulf of Mexico. In California, he has a joint venture called Aera Energy LLC with Shell Oil. In Canada, the company has 5.4 million hectares (22,000 km 2 ), including 1 million hectares (4,000 km 2 ) offshore and 0.7 million hectares (2,800 km 2 ) from the Kearl Oil Sands Project.
In Argentina, ExxonMobil owns 0.9 million hectares (3.600 km 2 ), Germany 4.9 million hectares (20,000 km 2 ), in the Netherlands ExxonMobil has 1.5 million (0.100 km 2 ) offshore, and the UK 0.6 million hectares (2,400 km) soup> 2 ) offshore. In Africa, upstream operations are concentrated in Angola where it has 0.4 million hectares (1,600 km 2 ) off the coast, Chad where it has 46,000 hectares (19,000 ha), Equatorial Guinea where it has 0.1 million acres (400Ã, km 2 ) offshore, and Nigeria where it has 0.8 million hectares (3,200 km 2 ) offshore. In addition, Exxon Mobil plans to start exploration activities off the coast of Liberia and Ivory Coast. In the past, ExxonMobil had exploration activities in Madagascar, but the operation was terminated due to unsatisfactory results.
In Asia, the country has 9,000 hectares (3,600 hectares) in Azerbaijan, 1.7 million hectares (6,900 km 2 ) in Indonesia, where 1.3 million hectares (5,300 km 2 ) is offshore, 0.7 million hectares (2,800 km 2 ) in Iraq, 0.3 million hectares (1,200 km 2 ) in Kazakhstan, 0.2 million hectare (810 km 2 ) in Malaysia, 65,000 acres (26,000 ha) in Qatar, 10,000 acres (4,000 ha) in Yemen, 21,000 acres (8,500 ha) in Thailand, and 81,000 acres (33,000 ha) in the United Arab Emirates.
In Russia, ExxonMobil has 85,000 acres (34,000 ha) in the Sakhalin-I project. Together with Rosneft, it has developed 63.6 million hectares (257,000 km 2 ) in Russia, including the East-Prinovozemelsky field. In Australia, ExxonMobil has a land area of ​​1.7 million hectares (6,900 km 2 ), including 1.6 million hectares (6,500 km 2 ) offshore. It also operates the Longford Gas Conditioning Plant, and participates in the development of the Gorgon LNG project. In Papua New Guinea, it has 1.1 million hectares (4,500 km 2 ), including the PNG Gas project.
Downstream
ExxonMobil markets products worldwide with Exxon, Mobil and Esso brands. Cars are major retail brands of ExxonMobil gasoline in California, Florida, New York, New England, the Great Lakes and Midwest. Exxon is a major brand across the United States, with the highest concentration of retail outlets located in New Jersey, Pennsylvania, Texas and in the Mid-Atlantic and Southeast countries. Esso is the main ExxonMobil gasoline brand worldwide except in Australia and New Zealand, where Car brands are used exclusively. In Colombia, Esso and Mobil brands are used.
In Japan, ExxonMobil owns a 22% stake in TonenGeneral Sekiyu K.K., a distillery company.
Chemicals
ExxonMobil Chemical is a petrochemical company created by combining Exxon and Mobil chemical industries. The main products include basic olefins and aromatics, ethylene glycol, polyethylene, and polypropylene together with specific pathways such as elastomers, plasticizers, solvents, process liquids, oxo alcohols and adhesive resins. The company also produces synthetic base lubricants as well as lubricant additives, propylene packaging films and catalysts. The company is an industry leader in metallocene catalyst technology to create unique polymers with better performance. ExxonMobil is the largest producer of butyl rubber.
Infineum, a joint venture with Royal Dutch Shell, is manufacturing and marketing crankcase lubricant additives, fuel additives, and specialty lubricant additives, as well as automatic transmission fluids, gear oils and industrial oils.
Clear tech research
ExxonMobil conducts research on clean energy technologies, including algae biofuel, biodiesel made from agricultural waste, carbonate fuel cells, and crude oil refining into plastics using membranes and osmosis instead of heat. However, it is unlikely the company will commercialize the project before 2030.
Company affairs
Financial data
In 2005, ExxonMobil surpassed Wal-Mart as the largest public company in the world when measured by revenue, although Wal-Mart remains the largest by number of employees. ExxonMobil's $ 340 billion revenues in 2005 were an increase of 25.5 percent of their 2004 revenues.
In 2006, Wal-Mart recaptured the advantage with $ 348.7 billion in revenues against ExxonMobil for $ 335.1. ExxonMobil continues to lead the world in both profits ($ 39.5 billion in 2006) and market value ($ 460.43 billion).
In 2007, ExxonMobil had a net income record of $ 40.61 billion in $ 404.552 billion in revenues, largely due to rising oil prices because their actual BOE production decreased by 1 percent, in part due to the takeover of their Venezuelan assets by ChÃÆ'¡ government vez.
As of December 2013, ExxonMobil occupied five of the top ten slots for the Company's Biggest Annual Income of All Time and two out of ten at the Largest Corporate Quarterly Revenues.
Headquarters
The ExxonMobil headquarters is located in Irving, Texas. In May 2015, the company nearly completed a new campus located on the outskirts of Spring in northern Houston, at the intersection of Interstate 45, Hardy Toll Road, and the northern extension of the Grand Parkway. This is a complex corporate campus, including twenty 3,000,000 square foot (280,000 m 2 ) office buildings, health centers, laboratories and three parking garages. It is designed to accommodate nearly 10,000 employees with an additional 1,500 employees located on the satellite campus at Hughes Landing in The Woodlands, Texas. In October 2010, the company stated that it would not move its headquarters to Greater Houston.
Management
Chairman of the Board and CEO of Exxon Mobil Corp. today is Darren W. Woods. Woods was elected as Chairman of the Board and CEO effective January 1, 2017 after retiring from former Chairman and CEO Rex Tillerson. Prior to being elected as Chairman and CEO, Woods was elected President of ExxonMobil and a member of the board of directors in 2016.
On January 11, 2017, ExxonMobil's board members today are:
- Michael Boskin, Stanford University economics professor, director of Oracle Corp, Shinsei Bank, and Vodafone Group
- Peter Brabeck-Letmathe, chairman of Nestlà ©  © and former CEO of NestlÃÆ' ©
- Angela F. Braly, former WellPoint CEO
- Ursula Burns, chairman and CEO of Xerox
- Larry R. Faulkner, President, Houston Endowment; President Emeritus, University of Texas at Austin
- Henrietta H. Fore, Holsman International
- Kenneth Frazier, President of Merck & amp; Co.
- Douglas R. Oberhelman, Chairman and Chief Executive Officer, Caterpillar Inc.
- Samuel J. Palmisano, Chairman of the Board, IBM Corp.
- Steven S Reinemund, retired Executive Chairman of the Board, PepsiCo
- William C. Weldon, past Johnson & amp; Chairman Johnson
- Darren W. Woods, Chairman of the Board and CEO, ExxonMobil Corporation
Environmental recordings
The ExxonMobil environmental record has been the target of criticism from outside organizations such as the Greenpeace environmental lobby group as well as some public employee pension funds that do not agree with its attitude to global warming. The Institute for Political Economy Research puts sixth ExxonMobil among companies that emit air pollutants in the United States. Ratings are based on quantity (15.5 million pounds in 2005) and emissions toxicities. In 2005, ExxonMobil has provided less than 1 percent of their profits to research alternative energy, less than other leading oil companies.
Climate change
ExxonMobil's activities related to climate change have varied over the decades. From the late 1970s to the 1980s, Exxon funded research broadly in line with the development of a public scientific approach. After the 1980s, Exxon confined its own climate research and was a leader in climate change denials. By 2014, ExxonMobil publicly recognizes climate change risks. This nominally supports the carbon tax, although support is weak.
The ExxonMobil-funded organization opposes the Kyoto Protocol and seeks to influence public opinion on scientific consensus that global warming is caused by the burning of fossil fuels. ExxonMobil helps establish and lead the Global Climate Coalition, which opposes greenhouse gas emissions regulations. In 2007, the Union of Concerned Scientists said ExxonMobil provided $ 16 million between 1998 and 2005 against 43 advocacy organizations that denied the effects of global warming, and that ExxonMobil used disinformation tactics similar to those used by the tobacco industry in denial of the link between lung cancer -part and smoking, said the company uses many of the same organizations and personnel to obscure the scientific understanding of climate change and delay action on this issue.
In March 2016, the attorneys of New York, California, Massachusetts and the US Virgin Islands are investigating, with the cooperation of 17 US states, whether ExxonMobil misleads consumers or investors about the risks of climate change. Exxon said the investigation was "politically motivated".
Sakhalin-I
Scientists and environmental groups have raised concerns that the Sakhalin-I oil and gas project in Russia's Far East, operated by ExxonMobil subsidiary Exxon Neftegas, threatens a critically endangered gray whale population. Particular attention is caused by the decision to build the dock and start shipping at Piltun Lagoon. ExxonMobil has responded that since 1997 the company has invested more than $ 40 million for western whale monitoring programs.
New Jersey settlement
In 2004, the New Jersey Environmental Protection Department sued ExxonMobil for $ 8.9 billion due to loss of wetland resources at Constable Hook at Bayonne and Bayway Refinery in Linden. Although the New Jersey Court of Appeal is believed to be close to the decision, the Christie Administration repeatedly asks the judge to wait, as they reach a settlement with ExxonMobil's lawyer. On Friday, February 19, 2015, a lawyer for the administration of Christie told the judge that an agreement had been reached. The details of the $ 225 million completion - approximately 3% of what the state initially sought - are not released soon. Christopher Porrino served as Chief Administrative Advisor of Christie from January 2014 to July 2015 and handled negotiations in this case.
Human rights
ExxonMobil is a target of human rights activists for actions taken by corporations in the Indonesian territory of Aceh. In June 2001, a lawsuit against ExxonMobil was filed in the Federal District Court in the District of Columbia under the Alien Tort Claim Act. The law alleges that ExxonMobil consciously assisted human rights abuses, including torture, killing and rape, by employing and providing material support to Indonesian military forces, who alleged violations during civil unrest in Aceh. Human rights complaints involving Exxon and Mobil have not been merged) relations with the Indonesian military first appeared in 1992; the company denied this allegation and filed a motion to drop the lawsuit, which was rejected in 2008 by a federal judge. But another federal judge dismissed the lawsuit in August 2009. The plaintiffs are currently appealing for dismissal.
Geopolitical Influence
The July 2012 review of Steve Coll's book, The Private Empire: ExxonMobil and American Power, at The Daily Telegraph says that he thinks that ExxonMobil "is able to determine American foreign policy and the fate of the whole nation ". ExxonMobil increasingly trained in the field rented to them by dictatorships, such as in Chad and Equatorial Guinea. Steve Coll describes Lee Raymond, the company's chief executive until 2005, as "a very skeptical person about climate change and dislikes government intervention at any level".
This book is also featured on The Economist, which he says "ExxonMobil is easy to caricature, and many critics have done it.... It is Steve Coll's credit that the Private Empire , his new book on ExxonMobil, refused to subscribe to such a simple display. "This review illustrates the power of companies in dealing with countries where the practice is" limited ". It notes that the company is closing its operations in Indonesia to abstain from violations committed against the population by the army, and that it decides to drill in Chad only after the World Bank agrees to ensure that oil royalties are used to benefit the population. The review concludes by noting that "A world that is addicted to ExxonMobil products needs to look in the mirror before it becomes too critical about how endlessly the company supplies it."
Accident
Exxon Valdez oil spill
On March 24, 1989, the Exxon Valdez oil spill produced the release of approximately 11 million million gallons of US oil to Prince William Sound, oiling 1,300 miles (2,100 km) from the remote Alaska coastline. Valdez spill is the worst oil spill 36 in history in terms of sheer volume.
The Exxon Valdez Oil Spill Control Board of Alaska State states that the spill "is widely regarded as the world's number one spill in terms of environmental degradation". Carcasses found more than 35,000 birds and 1,000 sea otters. Since the carcass usually sinks to the seafloor, it is estimated the death toll may be 250,000 seabirds, 2,800 sea otters, 300 seal ports, 250 bald eagles, and up to 22 killer whales. Billions of salmon and herring eggs were also killed.
In 2001, oil remained at or below more than half the coastal votes, according to a 2001 federal survey. The Government's exxon Valdez Oil Spill Trustee Council concluded that the oil was missing less than 4 percent per year, adding that oil would "take some time decades and perhaps centuries to disappear completely ". Of the 27 species monitored by the Council, 17 have not yet recovered. While salmon populations have recovered, and orca whales have begun to recover, fish and fishing industry populations have not recovered.
Exxon was widely criticized for his slow response to disaster cleanup. John Devens, Mayor of Valdez, said his community felt betrayed by Exxon's inadequate response to the crisis. Exxon later removed the name "Exxon" from a subsidiary ship delivery tanker, which was renamed "SeaRiver Maritime". The renamed subsidiary, although fully controlled by Exxon, has a separate corporate charter and board of directors, and former Exxon Valdez is now SeaRiver Mediterranean . The legally renamed tanker is owned by a stand-alone small company, which will have the minimum ability to pay claims in case of further accidents.
After the trial, the jury ordered Exxon to pay $ 5 billion in compensation, even though the court of appeal reduced that amount by half. Exxon appealed further, and on June 25, 2008, the United States Supreme Court reduced the amount to $ 500 million.
In 2009, Exxon still used more single-hull tankers than the rest of the top ten combined oil companies, including the sister ship Valdez, SeaRiver Long Beach. Exxon Exxon oil spill Brooklyn Exxon oil spill
New York Attorney General Andrew Cuomo announced on July 17, 2007 that he had filed a lawsuit against Exxon Mobil Corp. and ExxonMobil Refining and Supply Co. to clean up the oil spill at Greenpoint, Brooklyn, and restore Newtown Creek.
A study of the spill released by the US Environmental Protection Agency in September 2007 reported that the oil spill consisted of 17 to 30 million US gallons (64,000 to 114,000 m 3 ) of petroleum products from the mid-19th century into the middle of the 20th century. The largest part of this operation is by ExxonMobil or its predecessor. For comparison, the Exxon Valdez oil spill is about 11 million gallons US (42,000 m 3 ). The study reported that at the beginning of the 20th century Standard Oil of New York operated a major refinery in the area where the spill was located. Refineries produce fuel oil, gasoline, kerosene and solvents. Naptha and gas oil, secondary products, are also stored in the refinery area. Standard Oil of New York then became the Mobil, the precursor of Exxon/Mobil.
Baton Rouge Refinery pipeline oil spill
In April 2012, a crude oil pipeline, from Exxon Corp. Baton Rouge Refinery, erupted and spilled at least 1,900 barrels of oil (80,000 gallons) in rivers at Point Coupee Parish, Louisiana, closing Exxon Corp. Baton Refinery for several days. The regulator opened the investigation in response to the pipeline oil spill.
Yellowstone River oil spill
The Yellowstone River oil spill in July 2011 was an oil spill from the ExxonMobil pipeline that flowed from Silver Tip to Billings, Montana, which broke out about 10 miles west of Billings on July 1, 2011, around 11:30 pm. The resulting spill leaked about 1,500 barrels of oil into the Yellowstone River for about 30 minutes before closing, generating about $ 135 million in damages. As a precaution against possible explosions, officials in Laurel, Montana evacuated about 140 people on Saturday (July 2) just after midnight, then allowed them to return at 4 am.
An ExxonMobil spokesman said that oil is within 10 miles of the oil spill location. However, Montana Governor Brian Schweitzer denied the accuracy of the figure. The governor promised that "The responsible parties will restore the Yellowstone River."
Mayflower oil spill
On March 29, 2013, Pegasus Pipeline, owned by ExxonMobil and carrying Canadian Wabasca crude, broke out at Mayflower, Arkansas, releasing about 3,190 barrels (507 m 3 ) oil and forcing the evacuation of 22 homes. The Environmental Protection Agency has classified leaks as the main spill . By 2015, ExxonMobil has alleged that it violates the federal Clean Water Act and state environmental legislation, for $ 5.07 million, including $ 4.19 million in civil penalties. It does not recognize obligations.
See also
- Exxon Corp v Exxon International Insurance Consultants Ltd
- Kivalina v. Exxon Mobil Corp.
- List of companies based on revenue
- Save Tiger Fund
Note
References
Bibliography
Further reading
External links
- Official website
Source of the article : Wikipedia
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