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Encyclopedia > Exxon Mobil
Exxon Mobil Corporation
Type Public (NYSE: XOM (http://www.nyse.com/about/listed/lcddata.html?ticker=XOM))
Founded 1911 (in 1999, company took on current name)
Location HQ in Irving, Texas
Key people Lee R. Raymond, Chairman & CEO
Rex W. Tillerson, President
Industry Oil and Gas
Products Petrochemical products
Revenue image:green up.png$298.035 billion USD (2004)
Website www.exxonmobil.com
Exxon-branded gas station in California (actually operated by Valero)
Enlarge
Greenpeace protest against Exxon Mobil

Exxon Mobil Corporation or ExxonMobil (NYSE: XOM (http://www.nyse.com/about/listed/lcddata.html?ticker=XOM)), headquartered in Irving, Texas, is an oil producer and distributor formed on November 30, 1999, by the merger of Exxon and Mobil. It is the parent of Exxon, Mobil, and Esso companies around the world. It is one of the top four oil companies in the world (along with Shell, BP, and Total). The current CEO of ExxonMobil is Lee Raymond. Exxon Mobil Logo This is a copyrighted and/or trademarked logo. ... Literally a public company is a company owned by the public. ... New York Stock Exchange (June 2003) The New York Stock Exchange (NYSE) is one of the largest stock exchanges in the world. ... Wiktionary has a definition of: Foundation This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ... 1911 is a common year starting on Sunday (click on link for calendar). ... 1999 is a common year starting on Friday of the Common Era, and was designated the International Year of Older Persons by the United Nations. ... Irving is a suburb of Dallas, Texas and is located in Dallas County. ... Lee R. Raymond has been the chairman and CEO of ExxonMobil since 1999. ... A petrochemical is any chemical derived from fossil fuel. ... In business, revenue is the amount of money that a company actually receives from its activities, mostly from sales of products and/or services to customers. ... Green up arrow for a positive change in revenue from last fiscal year. ... The United States dollar is the official currency of the United States. ... 2004 is a leap year starting on Thursday of the Gregorian calendar. ... The front page of the English Wikipedia website. ... Exxon-branded gas station in the Rancho Park neighborhood of Los Angeles, California. ... Exxon-branded gas station in the Rancho Park neighborhood of Los Angeles, California. ... Wikipedia does not have an article with this exact name. ... Wikipedia does not have an article with this exact name. ... Greenpeace protest. ... New York Stock Exchange (June 2003) The New York Stock Exchange (NYSE) is the second largest stock exchange in the world. ... Irving is a suburb of Dallas, Texas and is located in Dallas County. ... Nodding donkey pumping an oil well near Sarnia, Ontario, 2001 Petroleum (from Latin petra – rock and oleum – oil), crude oil, sometimes colloquially called black gold, is a thick, dark brown or greenish flammable liquid, which exists in the upper strata of some areas of the Earths crust. ... November 30 is the 334th day (335th on leap years) of the year in the Gregorian calendar, with 31 days remaining, as the final day of November. ... 1999 is a common year starting on Friday of the Common Era, and was designated the International Year of Older Persons by the United Nations. ... A Shell petrol station sign in the UK A Shell gas station in the US The Royal Dutch/Shell Group of Companies (called Shell Oil in North America) is a major oil company, one of the top four oil companies in the world (along with BP, ExxonMobil, and Total). ... BP (formerly British Petroleum and briefly known as BP Amoco) (NYSE: BP) is a petroleum company headquartered in London, United Kingdom, and one of the top four oil companies in the world (along with Shell, ExxonMobil, and Total). ... Total new logo Total SA (NYSE: TOT) is a French oil company, and one of the top four oil companies in the world (along with Shell, BP, and ExxonMobil). ... Lee R. Raymond has been the chairman and CEO of ExxonMobil since 1999. ...

Contents

Name

Exxon formally replaced the Esso, Enco, and Humble brands on January 1, 1973 in the USA. The name Esso, which sounds like S-O, attracted protests from other Standard Oil spinoffs because of its similarity to the name of the parent company, Standard Oil. Hence, the company was restricted from using Esso in the USA except in those states awarded to it in the 1911 Standard Oil antitrust settlement. January 1 is the first day of the calendar year in both the Julian and Gregorian calendars. ... 1973 was a common year starting on Monday. ... Standard Oil (1863 - 1911) was an oil refining organization founded by John D. Rockefeller (1839-1937) and partners in 1863. ... 1911 is a common year starting on Sunday (click on link for calendar). ...


In order to create a unified brand, the company changed its corporate name from Jersey Standard to Exxon, rebranding all its U.S. stations under the latter title. However, the unrestricted international use of the popular brand Esso prompted the company to continue using Esso outside of the USA. Esso is the only widely used Standard Oil brand left in existence. Other Standard Oil descendants, such as BP and Chevron, do however maintain a few stations with the Standard Oil brand in specific states in order to retain their trademarks and prevent others from using them. BP (formerly British Petroleum and briefly known as BP Amoco) (NYSE: BP) is a petroleum company headquartered in London, United Kingdom, and one of the top four oil companies in the world (along with Shell, ExxonMobil, and Total). ... Chevron Corporation (NYSE: CVX) is one of the worlds largest global energy companies. ...


History

Both Exxon and Mobil were descendants of the old John D. Rockefeller monopoly, Standard Oil. In 1911, after a United States Supreme Court ruling which upheld a federal court order to dissolve it, the Standard Oil Trust was split into 34 companies. Two of these companies were Jersey Standard, which eventually became Exxon, and Socony ("Standard Oil Company of New York"), which eventually became Mobil. 1917 painting by John Singer Sargent. ... 1911 is a common year starting on Sunday (click on link for calendar). ... The Supreme Court Building, Washington, D.C. The Supreme Court Building, Washington, D.C., (large image) The Supreme Court of the United States, located in Washington, D.C., is the highest court (see supreme court) in the United States; that is, it has ultimate judicial authority within the United States... Standard Oil was an oil refining organization founded by John D. Rockefeller (1839-1937) and partners beginning in 1863. ... Exxon Mobil Corporation or ExxonMobil (NYSE: XOM), headquartered in Irving, Texas, is an oil producer and distributor formed on November 30, 1999, by the merger of Exxon and Mobil. ... Exxon Mobil Corporation or ExxonMobil (NYSE: XOM), headquartered in Irving, Texas, is an oil producer and distributor formed on November 30, 1999, by the merger of Exxon and Mobil. ...


In the same year, the nation's kerosene output was eclipsed for the first time by gasoline. The growing automotive market inspired the product trademark Mobiloil, registered by Socony in 1920. Kerosene, gas oil, paraffin (not the waxy solid of that name) is a colorless flammable hydrocarbon liquid. ... Petrol (gasoline in the United States and Canada) is a petroleum-derived liquid mixture consisting primarily of hydrocarbons, used as fuel in internal combustion engines. ... A small variety of cars, the most popular kind of automobile. ... A trademark (Commonwealth English: trade mark)[1] is a distinctive sign of some kind which is used by a business to identify itself and its products or services to consumers, and to set the business and its products or services apart from those of other businesses. ... 1920 is a leap year starting on Thursday (link will take you to calendar) Events January January 7 - Forces of Russian White admiral Kolchak surrender in Krasnoyarsk. ...


Over the next decade, both companies grew significantly. Jersey Standard acquired a 50 percent interest in Humble Oil & Refining Co., a Texas oil producer. Socony purchased a 45 percent interest in Magnolia Petroleum Co., a major refiner, marketer and pipeline transporter. In 1931, Socony merged with Vacuum Oil Co., an industry pioneer dating back to 1866 and a growing Standard Oil spin-off in its own right. State nickname: Lone Star State Other U.S. States Capital Austin Largest city Houston Governor Rick Perry Official languages None. ... The Magnolia Petroleum Company was an early twentieth century petroleum company in Texas and was founded on April 24, 1911 as a consolidation several earlier companies. ... 1931 is a common year starting on Thursday. ... 1866 is a common year starting on Monday. ...


In the Asia-Pacific region, Jersey Standard had oil production and refineries in Indonesia but no marketing network. Socony-Vacuum had Asian marketing outlets supplied remotely from California. In 1933, Jersey Standard and Socony-Vacuum merged their interests in the region into a 50-50 joint venture. Standard-Vacuum Oil Co., or "Stanvac," operated in 50 countries, from East Africa to New Zealand, before it was dissolved in 1962. World map showing location of Asia A satellite composite image of Asia Asia is the central and eastern part of the continent of Eurasia, defined by subtracting the European peninsula from Eurasia. ... For other meanings of Pacific, see Pacific (disambiguation). ... 1933 was a common year starting on Sunday (link will take you to calendar). ... East Africa is a region generally considered to include: Djibouti Eritrea Ethiopia Kenya Somalia Tanzania Uganda [[Image:Example. ... 1962 was a common year starting on Monday (link will take you to calendar). ...


Mobil Chemical Company was established in 1960. As of 1999 its principal products included basic olefins and aromatics, ethylene glycol and polyethylene. The company produced synthetic lubricant base stocks as well as lubricant additives, propylene packaging films and catalysts. Exxon Chemical Company became a worldwide organization in 1965 and in 1999 was a major producer and marketer of olefins, aromatics, polyethylene and polypropylene along with specialty lines such as elastomers, plasticizers, solvents, process fluids, oxo alcohols and adhesive resins. The company was an industry leader in metallocene catalyst technology to make unique polymers with improved performance. 1960 was a leap year starting on Friday (link will take you to calendar). ... 1999 is a common year starting on Friday of the Common Era, and was designated the International Year of Older Persons by the United Nations. ... An olefin is an alkene hydrocarbon. ... In chemistry, an aromatic molecule is one in which electrons are free to cycle around circular arrangements of atoms, which are alternately singly and doubly bonded to one another. ... Ethylene glycol (IUPAC name:ethane-1,2-diol) is a chemical compound widely used as an automotive antifreeze (coolant). ... Polyethylene or polyethene is an engineering thermoplastic heavily used in consumer products. ... Propylene, also known as propene, is a colorless flammable gas with chemical formula C3H6 having a garlic odor. ... In chemistry and biology, catalysis (in Greek meaning to annul) is the acceleration of the rate of a chemical reaction by means of a substance, called a catalyst, that is itself unchanged chemically by the overall reaction. ... 1965 was a common year starting on Friday (the link is to a full 1965 calendar). ... 1999 is a common year starting on Friday of the Common Era, and was designated the International Year of Older Persons by the United Nations. ... Polypropylene is a thermoplastic polymer, used in a wide variety of applications, including Australian banknotes. ... The term elastomer is often used interchangeably with the term rubber, and is preferred when referring to vulcanisates. ... Plasticizers are plastic additives, most commonly phthalates, that give plastics flexibility and durability. ... A solvent is a liquid that dissolves a solid, liquid, or gaseous solute, resulting in a solution. ... An adhesive is a compound that adheres or bonds two items together. ... Resin is a hydrocarbon secretion formed in special resin canals of many plants, from many of which (for example, coniferous trees) it is exuded in soft drops from wounds, hardening into solid masses in the air. ...


In 1955 Socony-Vacuum became Socony Mobil Oil Co. and in 1966 simply Mobil Oil Corp. A decade later, the newly incorporated Mobil Corporation absorbed Mobil Oil as a wholly owned subsidiary. Jersey Standard changed its name to Exxon Corporation in 1972 and established Exxon as a trademark throughout the United States. In other parts of the world, Exxon and its affiliated companies continued to use its Esso trademark. 1955 is a common year starting on Saturday of the Gregorian calendar. ... 1966 was a common year starting on Saturday (the link is to a full 1966 calendar). ... 1972 was a leap year that started on a Saturday. ...


On March 24, 1989, shortly after midnight, the oil tanker Exxon Valdez struck Bligh Reef in Prince William Sound, Alaska, spilling more than 11 million gallons (42,000 m³) of crude oil. The spill was the largest in U.S. history, and in the aftermath of the Exxon Valdez incident U.S. Congress passed the Oil Pollution Act of 1990. At the time of the spill, Exxon paid $300 million immediately and voluntarily to more than 11,000 Alaskans and businesses affected by the Valdez spill. In addition, the company paid $2.2 billion on the cleanup of Prince William Sound, staying with the cleanup from 1989 to 1992, when the State of Alaska and the U.S. Coast Guard declared the cleanup complete. Exxon also has paid $1 billion in settlements with the state and federal governments. Virtually all Valdez compensatory damages were paid in full within one year of the accident, and the trial court commended Exxon for coming forward "with its people and its pocketbook and doing what had to be done under difficult circumstances." However, Exxon has yet to pay up for the largest ruling against it, making no payments on $4.5 billion in punitive damages and perpetually appealing each successive judgment for the past 16 years. March 24 is the 83rd day of the year in the Gregorian Calendar (84th in Leap years). ... 1989 is a common year starting on Sunday of the Gregorian calendar. ... Exxon Valdez was the original name of an oil tanker owned by the Exxon oil company. ... Bligh Reef is a reef in Prince William Sound, Alaska. ... Prince William Sound, on the south coast of Alaska. ... State nickname: The Last Frontier, The Land of the Midnight Sun Other U.S. States Capital Juneau Largest city Anchorage Governor Frank Murkowski Official languages English Area 1,717,854 km² (1st)  - Land 1,481,347 km²  - Water 236,507 km² (13. ... The Exxon Valdez oil spill was the most devastating domestic oil spill in the United States. ... Seal of the Congress. ... The Oil Pollution Act of 1990 was passed by Congress to prevent further spills from occurring in the United States. ...


In 1998, Exxon and Mobil signed a US$73.7 billion definitive agreement to merge and form a new company called Exxon Mobil Corporation, the largest company on the planet. After shareholder and regulatory approvals, the merger was completed November 30, 1999 (the deal was announced the next day). 1998 is a common year starting on Thursday of the Gregorian calendar, and was designated the International Year of the Ocean. ... A shareholder or stockholder is an individual or company (including a corporation), that legally owns one or more shares of stock in a joint stock company. ... November 30 is the 334th day (335th on leap years) of the year in the Gregorian calendar, with 31 days remaining, as the final day of November. ... 1999 is a common year starting on Friday of the Common Era, and was designated the International Year of Older Persons by the United Nations. ...


In 2000, ExxonMobil sold a California refinery and 340 Exxon-branded stations to Valero Energy Corporation, as part of a divestiture of California assets. They continue to operate over 700 Mobil branded outlets in the state. 2000 is a leap year starting on Saturday of the Gregorian calendar. ... Valero Energy Corporation (NYSE: VLO) is based in San Antonio, Texas and is one of the leading U.S. refining companies. ...


Exxon's long-time mascot is a tiger; Mobil's mascot is a flying horse which dates back to the late 19th century and is one of the oldest marketing symbols still in use. Tigers (Panthera tigris) are mammals of the Felidae family, one of four big cats that belong to the Panthera genus. ... In Greek mythology, Pegasus, or Pegasos was a winged horse that was the foal of Poseidon, in his role as horse-god, and the Gorgon Medusa. ...


Allegations against ExxonMobil

ExxonMobil controls concessions covering 11 million acres (44,500 km²) off the coast of Angola that hold an estimated 7.5 billion barrels (1.2 km³) of crude. [1] (http://www2.exxonmobil.com/Corporate/Newsroom/Newsreleases/Corp_xom_nr_071201.asp) Questions have been raised about ExxonMobil's actions in securing these concessions—Forbes Magazine alleging that "ExxonMobil handed hundreds of millions of dollars to the corrupt regime of President José Eduardo dos Santos in the late 1990s". [2] (http://www.forbes.com/forbes/free_forbes/2003/0428/084.html) Alternate meaning: For the Boston Brahmin family associated with John Forbes Kerry, see Forbes family. ... José Eduardo dos Santos (born August 28, 1942) is the current President of Angola. ...


In 2003, the Office of Foreign Assets Control reported that ExxonMobil engaged in illegal trade with Sudan and along with dozens of other companies had to settle with the United States government for US$50,000 [3] (http://www.cnn.com/2003/LAW/04/14/enemy.trading/index.html). 2003 is a common year starting on Wednesday of the Gregorian calendar. ... The Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury administers and enforces economic and trade sanctions based on US foreign policy and national security goals against targeted foreign countries, terrorists, unapproved international narcotics traffickers, and those engaged in activities related to the unapproved proliferation...


Exxon Mobil is regarded by many environmental activists as an example of disregard for environmental concerns by US-based corporations. The company has been a target for a number of political campaigns, including the Stop Esso campaign, held by Greenpeace, Friends of the Earth and People and Planet, and aimed at boycotting Esso. These organisations commonly parody the company's brandname as "E$$O", an example of alternative political spelling, to indicate their belief that the company is only interested in short-term profit, and is willing to use its financial power to buy influence. Unlike other major oil companies such as Shell Oil and British Petroleum, Exxon is one of the few that has actively fought the Kyoto Protocol and disputed scientific opinion on global climate change. Environmentalism is the support or involvement with the environmental movement by environmentalists. ... The Stop Esso campaign is a campaign by Greenpeace, Friends of the Earth and People and Planet aimed at boycotting the oil company Esso because they believe it is doing damage to the environment. ... Greenpeace protest. ... Friends of the Earth is an international network of environmental organizations in 70 countries. ... People & Planet is the largest student network in the UK campaigning to alleviate world poverty, defend human rights and protect the environment. ... A boycott is a refusal to buy, sell, or otherwise trade with an individual or business who is generally believed by the participants in the boycott to be doing something morally wrong. ... The orthodox spellings of common words are often altered to make a political point, particularly in informal writing on the Internet, but also in some serious political writing that opposes the status quo. ... A Shell petrol station sign in the UK The Royal Dutch/Shell Group of Companies (called Shell Oil in North America), has its headquarters split between the Shell Centre in London, United Kingdom and The Hague, Netherlands. ... This article is about the corporation known as BP. See also BP (disambiguation) BP (formerly British Petroleum and briefly known as BP Amoco) (NYSE: BP) is a petroleum company headquartered in London, United Kingdom. ... Kyoto Protocol Opened for signature December 11, 1997 at Kyoto, Japan Entered into force February 16, 2005. ... The term climate change is used to refer to changes in the Earths climate. ...


Greenpeace have been campaigning against ESSO for many years and their main reasons for doing so include their position on the issue of climate change and their funding of the War in Iraq and George W. Bush's campaigns. They also claim that Esso has flatly refused to believe that the burning of fossil fuels has any negetive affect on the environment or climate change as a whole, despite its being accepted by the scientific community. As soon as Bush was elected, they argue, the USA - the world's biggest polluter (per capita) - withdrew from the Kyoto Protocol, the international measure to cut down on global warming. There have been three conflicts in the late 20th century and early 21st century called Gulf War, all of which refer to conflicts in the Persian Gulf region: Iran-Iraq War (1980-1988) (aka First Gulf War). ... Order: 43rd President Vice President: Dick Cheney Term of office: January 20, 2001 – Present Preceded by: Bill Clinton Succeeded by: Incumbent Date of birth: July 6, 1946 Place of birth: New Haven, Connecticut First Lady: Laura Welch Bush Political party: Republican George Walker Bush (born July 6, 1946) is the...


Diversity

ExxonMobil received a 14% rating from the Human Rights Campaign's Corporate Equality Index in 2004. The company had previously lost points because it took action against the equal rights of GLBT people at the time of the merger. HRC logo The Human Rights Campaign (HRC) is the largest lesbian, gay, bisexual, and transgender (LGBT) equal rights organization in the United States. ... 2004 is a leap year starting on Thursday of the Gregorian calendar. ... LGBT (or GLBT) is an acronym used as a collective term to refer to lesbians, gays, bisexuals, and transgender people. ...


Sexual orientation was taken out of the ExxonMobil non-discrimination policy following Mobil's merger with Exxon. However, ExxonMobil contends in other publications that the non-discrimination policy does apply to sexual orientation, even though it is not written expressly in the policy.


Domestic partner benefits were ended following Mobil's merger with Exxon. Mobil employees who already had DP benefits were allowed to keep them, but no other employees could join after the merger. ExxonMobil does offer DP benefits in countries where same-sex marriage is legal.


External links

Funding given by ExxonMobil

  • Exxon's list of funded organizations (http://www.exxonmobil.com/Corporate/files/corporate/giving_report.pdf).
  • Greenpeace's list of organizations (http://www.exxonsecrets.org/html/listorganizations.php) that have received funds from Exxon, with evidence of that funding.

Greenpeace protest. ...

Critical views

  • Don't Buy ExxonMobil Campaign, USA (http://www.dontbuyexxonmobil.org/)
  • The Stop Esso campaign: UK (http://www.stopesso.com/), international (http://www.stopesso.org/)
  • John Vidal, The Guardian, June 8, 2005, "Revealed: how oil giant influenced Bush: White House sought advice from Exxon on Kyoto stance" (http://www.guardian.co.uk/climatechange/story/0,12374,1501646,00.html)

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