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One of the world’s six largest petrochemical companies: Exxon Mobil (XOM) (1870)

Exxon Mobil Corporation (NYSE: XOM) was founded in 1870 and is headquartered in Irving, Texas, USA. It has 74,900 full-time employees and is the world’s largest non-governmental oil and gas producer. ExxonMobil has production facilities and sales of products worldwide, and is engaged in oil and gas exploration business on six continents. Exxon Mobil is the world’s largest publicly listed oil company by market capitalization (it will be rewritten after Saudi Aramco is listed).

exxon

Exxon Mobil (XOM):

Exxon Mobil’s predecessors were Exxon and Mobil, and they were merged and reorganized on November 30, 1999. The company is also the parent company of Exxon, Mobil and Esso’s global subsidiaries. In addition, Exxon Mobil and Shell (Shell), British Petroleum (BP) and Total (Total) with one of the world’s largest oil companies.

On December 1, 1998, Exxon, the leader of the US oil industry, invested US$76.6 billion to purchase Mobil. December 14, 2009. ExxonMobil acquired XTO Energy, the largest natural gas producer in the United States, for a total of 41 billion U.S. dollars. XTO shareholders can get 0.7098 Exxon Mobil shares for every 1 share, which is XTO Energy 51.69 dollars per share, a premium. 25%. Will also assume the latter’s $10 billion debt. The transaction is scheduled to be completed in the second quarter of 2010.

Exxon Mobil Corporation is an energy company mainly engaged in the exploration and production of crude oil and natural gas. The company is engaged in the manufacture of petroleum products and various special products, as well as the transportation and sales of crude oil, natural gas and petroleum products. It is also engaged in the production and sales of petrochemical products, including olefins, aromatics, polyethylene, polypropylene plastics, and various specialty products.

ExxonMobil’s operating projects include: Kearl oil sands project, Heidelberg oil field project, Point Thomson oil field project, Hadrian South oil field project, Lucius oil field project, Chirag oil field project, Tapis oil recovery project, Damar gas field project, Barzan natural gas Tian project and so on.

ExxonMobil has witnessed the development of the world’s oil and gas industry. Its history can be traced back to the Standard Oil Company founded by John Rockefeller. It has spanned 145 years. The company has obtained a 3A credit rating for more than 93 consecutive years and is one of the few companies in the world that maintains this record. Exxon-Mobil is ranked No. 1 on the Fortune 500 in 2006 and the first company in the world with a market value of more than US$400 billion.

Exxon Mobil (XOM) history:

  • In 1911, the US Supreme Court ordered the dissolution of Standard Oil Trust.
  • Mobil Chemical Company was established in 1960. As of 1999, its main products include basic olefins, aromatics, ethylene, and polyethylene glycol. The company produces synthetic lubricants and lubricant additives bases, propylene and sheet packers. In 10 The country has production facilities and equipment.
  • Exxon Chemical Company began to become a global organization in 1965, mainly producing and selling Elastomers, plasticizers, solvents, treatment fluids, alcohols, Oxo resin adhesives such as olefins, aromatic hydrocarbons, polyethylene, polypropylene and characteristic circuits. .
  • On December 1, 1998, Exxon, the leader of the US oil industry, invested US$76.6 billion to purchase the second Mobil and became the current Exxon Mobil.
  • In 1999, Mobil and Exxon (Standard Oil of New Jersey, one of the successors of Standard Oil, used names such as Esso and Exxon.) merged into Exxon Mobil Corporation , Became the world’s largest oil company.
  • In the late 1990s and early 2000s, Exxon Mobil (ExxonMobil) and British Petroleum (BP), China National Petroleum Corporation , Royal Dutch Shell (Royal Dutch Shell) and Lukoil (Lukoil) in the Government of Iraq The lack of additional oil production facilities in the Rumaila and West Khulna fields has received many criticisms. The power and instability caused by the Iraq war. Exxon Mobil Corporation alone maintains low oil prices in Iraq, generating 2,325,000 barrels per day or total revenue of US$967,432,500 per year. This approach is considered beneficial to major oil consumers and allows ExxonMobil to produce more profitable crude oil products, such as plastics, fertilizers, drugs, lubricants and clothing.
  • In 2002, the company sold its shares in the Cerrejón coal mine in Colombia and its copper mining operations in Chile. At the same time, it regained its interest in oil shale by developing the ExxonMobil Electrofrac in-situ extraction process.
  • At the end of 2007, the company’s oil reserves were 72 billion equivalent barrels of crude oil, which can last for more than 14 years at the current production rate. The company has 38 refineries in 21 countries, capable of processing 6.3 million barrels of crude oil per day. The largest oil company in the world, with a daily output of 3.92 million barrels of crude oil equivalent in 2008.
  • In 2008, Exxon Mobil began to gradually withdraw from the US direct service retail market by selling its gas stations. The right to use the Exxon and Mobil brands has been granted to the new owner.
  • On December 14, 2009, Exxon Mobil acquired XTO Energy, the largest natural gas producer in the United States, for a total of $41 billion.
  • In 2009, ExxonMobil gradually withdrew from the coal mining business by selling its last operating coal mine in the United States.
  • In 2011, ExxonMobil and Rosneft began a strategic cooperation to develop the East-Prinovozemelsky field in the Kara Sea and the Tuapse field in the Black Sea. In 2012, ExxonMobil and Rosneft reached an agreement to assess the possibility of producing tight oil from the Bazhenov and Achimov formations in western Siberia . In 2018, due to international sanctions imposed on Russia and Rosneft, Exxon Mobil announced that it would terminate its joint venture with Rosneft.
  • In 2012, ExxonMobil started coalbed methane development in Australia, but withdrew from the project in 2014.
  • In 2012, ExxonMobil confirmed an agreement to conduct production and exploration activities in the Kurdistan region of Iraq.
  • In November 2013, Exxon Mobil agreed to sell its majority stake in Hong Kong’s utility and power storage company Castle Peak Co Ltd to CLP Holdings for a total price of US$3.4 billion.
  • In 2014, Exxon Mobil Corporation and LINN Energy LLC reached two “non-currency” asset swap transactions. In these transactions, ExxonMobil transferred LINN’s interest in the South Belridge and Hugoton gas fields to the Permian Basin in Texas and the Delaware Basin in New Mexico.
  • On October 9, 2014, the International Investment Dispute Resolution Center compensated Exxon Mobil for US$1.6 billion for the company’s lawsuit against the Venezuelan government. ExxonMobil accused the Venezuelan government of illegally expropriating its Venezuelan assets in 2007 and paid unfair compensation.
  • In September 2016, the U.S. Securities and Exchange Commission (SEC) contacted ExxonMobil to question why (unlike some other companies) they had not begun to write down the value of their oil reserves. Mark Carney expressed concern about the industry’s “stranded assets”. In October 2016, ExxonMobil (ExxonMobil) admitted that it may need to announce a lower price for its underground oil, and it may deplete about one-fifth of its reserves.
  • On December 13, 2016, Exxon Mobil CEO Rex Tillerson was nominated as Secretary of State by President Donald Trump.
  • On January 9, 2017, it was revealed that Infineum, a joint venture between Exxon Mobil and the Royal Dutch Shell Company headquartered in England, was conducting business with Iran, Syria and Sudan under US sanctions. ExxonMobil’s representative said that since Infineum is headquartered in Europe and the transaction does not involve any US employees, it did not violate sanctions.
  • In April 2017, the Donald Trump administration rejected Exxon Mobil’s request to allow it to resume oil drilling in Russia.
  • In July 2017, Exxon Mobil filed a lawsuit against the Trump administration, challenging the ruling that the company violated sanctions imposed on Russia. Company spokesperson William Holbrook said that Exxon Mobil “followed the clear guidance of the White House and the Treasury Department when its representatives signed the agreement with Rosneft’s ongoing oil and gas activities in May 2014. File time”.
  • After Washington, DC strengthened sanctions against Iran, in June 2019, a rocket fell near the headquarters of Exxon Mobil, Royal Dutch Shell and ENI SpA. This happened after two separate attacks on US military bases in Iraq and a week after two oil tankers were hit by “flying objects” in the Gulf of Oman. The US Navy’s investigation led to reasonable suspicion, leading them to believe that Tehran was connected to the attack.

Exxon Mobil (XOM) investment:

Exxon Mobil Corporation

Exxon Mobil is a petroleum Seven Sisters one, and Shell (Shell), British Petroleum (BP) and Total (Total) with one of the world’s largest oil companies.

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