Exxon Mobil Corporation

Exxon Mobil Corporation

Category:
Natural Gas

COMPANY DETAILS

Company Name

Exxon Mobil Corporation

Head Quarter

Irving, Texas (1989-2023) Spring, Texas (2023–present), U.S.

Founders

John D. Rockefeller / Mobil, Standard Oil, Standard Oil Co. of New Jersey v. United States

CEO

Daren Woods

Inception Date

30 November 1999

Total assets

US$338.923 billion (2021)

Company Related Blogs

History

Exxon Mobil Corporation is an America-based MNC oil and gas corporation with its headquarter in Irving, Texas. It was formed on November 30, 1999, and is the most prominent descendant of John D. Rockefeller Standard Oil. Exxon Mobil is a company formed as a resultof Exxon (formerly known as Standard Oil Company of New Jersey) and Mobil (formerly known as the Standard oil company of New York). Exxon Mobil's primary brands are Exxon, Mobil, Esso, and ExxonMobil Chemical. ExxonMobil is one of the largest companies by revenue from 1996 to 2017 and ranks among the six largest companies by market capitalization. In 2016, ExxonMobil was ranked third globally in the Forbes Global 2000 list and was the tenth most profitable company in the Fortune 500 in 2017. Further, in 2018, it ranked second in the Fortune 500 rankings of the largest United States corporation by total revenue. The institution holds the major part of the share, approximately 55.56%. As of 2019, its major shareholders are Vanguard Group (8.15%), BlackRock (6.61%), and State Street Corporation (4.83%).

ExxonMobil is among the largest big oil companies globally, and it was producing 3.921 million BOE (barrels of equivalent) in 2007. In 2008, the company's production was approximately 3% of world production, less than several of the largest state-owned petroleum companies. It is 14th in the world as per the rank of oil and gas reserves, with less than 1% of the total. At the end of the year, 2016 ExxonMobil had 20 billion BOE. Also, 2007 rates of production were expected to last more than 14 years. ExxonMobil is the seventh-largest refiner globally, with 37 oil refineries in 21 countries and a combined daily refining capacity of 6.3 million barrels. Further, (after the Exxon 1989 Exxon Valdez oil spill in Alaska) Mobil had been criticized for its slow cleanup efforts.

The company has allegations of dealing unfairly with human rights issues alongwith influence on American foreign policy and its impact on the nations' future.


Market share and Current Stage

In U.S. , the Company has a notable market share in 8 industries: mining, oil drilling, gas extraction, petroleum refining, lubricant oil manufacturing, gasoline & petroleum bulk stations, etc. Their largest share is in the Motor oil manufacturing industry. Here, it accounts for an estimated 23.8% of total industry revenue.

The Company Exxon Mobil Corporation, commonly shortened as Exxon, is vertically integrated and is one of the largest oil as well as gas producers in the World.

Exxon Company’s revenue for the twelve months ending September 30, 2022, was $403.216B. It is a 63.1% increase year-over-year.

For the year 2022, the Company’s revenue is $280.5B, its assets are $338.9B, and profits are 23B.

However, the Company has announced a corporate plan. It expects to double its earnings and cash flow potential by the year 2027. It increases investments in lower-emission efforts. In this disciplined approach, priority will be given to high-return, low-cost-of-supply assets in the upstream and product solutions businesses. Also, It supports efforts to reduce greenhouse gas emissions intensity.

Around $17 billion for lower-emission initiatives through the year 2027. It is an increase of nearly 15%. At the same time, the annual capital investments will remain at $20-$25 billion through the year 2027. Regarding earnings and cash flow growth, it is expected to double by the year 2027 compared to the year 2019.

Competitor Analysis

Competitors of ExxonMobil are Saudi Aramco, Valero Energy Corporation, Royal Dutch Shell, ConocoPhillips, and BP.

When the results of its competitors are compared, the Company Exxon Mobil reported a Total Revenue increase in the 3 quarter of 2022 by 51.89 % year on year. Also, its revenue growth was below its competitor's average revenue growth of 53.61 % recorded in the same quarter; ExxonMobil, with a net margin of 18.02%, found lower profitability than its competitors.

Net Income Comparison

The company’s net income in the 3 quarter of 2022 grew year on year by 190.95%. It was slower than its competitor's income growth of 279.33%.


FAQ'S

GHG intensity is a great measure of progress toward the Paris Agreement goals. It reflects how manufacturing companies continuously reduce the GHGs associated with each unit. It is well-recognized by industry standards. It is also considered effective in reflecting GHG improvements independent of organic growth. It allows comparability among other companies within the same sector or industry.
Methane is a hydrocarbon, and it is also the primary component of natural gas. It is a greenhouse gas that comes from both natural and human-induced sources. Methane emissions escape methane through leaks or vents associated with hydrocarbons' transport, production, or processing.
Exxon Mobile Corp owns Exxon, Mobil, Esso, and Exxon Mobil Australia. Exxon is a brand of fuel that Exxon Mobil sells.
ExxonMobil respects and supports society's ambition to achieve net-zero emissions by 2050. The Company reduces emissions in achievable periods while deploying and developing technology solutions. Since it is necessary to achieve an ambitious and challenging goal, ExxonMobil plans to minimize flaring, methane emissions, and GHG intensity through 2025. Addressing climate change will take government, companies, and consumers' coordinated efforts.
Flaring is used in various stages of production and exploration operations worldwide. It is a safety measure to prevent the accumulation of gases. These gases might pose a potential safety hazard. Flaring safely burns the gases like propane and methane. Flaring methane is converted into carbon dioxide and water to reduce greenhouse gas impact.

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