In today’s fast-paced world, energy is at the heart of everything – from the cars we drive to the cities we power. For over 140 years, ExxonMobil has been at the forefront of fueling that energy responsibly and sustainably. With operations in more than 60 countries, their team of 62,000 strong – including scientists, engineers, and researchers – is dedicated to meeting the world’s energy demands safely, while pushing for innovations that improve lives.
ExxonMobil – Company Highlights
| Name | ExxonMobil |
|---|---|
| Headquarters | Spring, Texas |
| Sector | Energy, Chemicals, Lubricants and Lower-Emissions Technologies |
| Founder | Lee Raymond and Lucio Noto |
| Founded | 30 November 1999 |
| Website | corporate.exxonmobil.com |
ExxonMobil – About
ExxonMobil – Industry
ExxonMobil – Founders and Team
ExxonMobil – Startup Story
ExxonMobil – Mission and Vision
ExxonMobil – Name, Tagline and Logo
ExxonMobil – Business Model
ExxonMobil- Revenue Model
ExxonMobil – Employees
ExxonMobil – Challenges Faced
ExxonMobil – Shareholders
ExxonMobil – Investments
ExxonMobil – Mergers and Acquisitions
ExxonMobil – Advertisements and Social Media Campaigns
ExxonMobil – Awards and Achievements
ExxonMobil – Competitors
ExxonMobil – Growth
ExxonMobil – Future Plans
ExxonMobil – About
What began as a small kerosene marketer in the U.S. has grown into one of the largest publicly traded petroleum and petrochemical companies globally. More than just a fuel provider, ExxonMobil products drive modern transportation, and power industries and supply the building blocks for thousands of everyday goods.
At ExxonMobil, the main focus is shaping a sustainable, net-zero future and leading the charge with innovations that advance modern living. Good governance is a cornerstone of everything they do, ensuring that their operations create long-term value for the communities they serve. Simply put, they’re here to power today while building a brighter tomorrow.
ExxonMobil – Industry
Delivering Industrial Solutions
Beyond traditional energy solutions, ExxonMobil is also focusing on low-carbon initiatives, such as large-scale carbon capture and storage, to help reduce emissions across industrial and commercial sectors.
Transforming Transportation
Decarbonizing transportation is no small task and ExxonMobil is tackling it with a science-backed, multifaceted approach. From driving efficiency improvements to innovating cleaner fuels, ExxonMobil is committed to paving the way for a more sustainable transportation future.
Materials for Modern Living
Whether it’s high-tech, lightweight plastics for smartphones and medical devices, high-performance fuels for aircraft, or advanced lubricants for wind turbines, their innovative solutions are all around us. Materials that enhance sustainability, like flexible films that extend food preservation.
Securing the Energy Supply
Their goal is clear: strengthen energy security, support a net-zero future, and deliver value to both shareholders and stakeholders.
Driving Toward Net-Zero Ambitions
- 140+ years as a leading energy supplier
- Targeting net-zero from operated assets by 2050
- Pioneering large-scale carbon capture and low-carbon solutions
Shaping the Future with Innovation and Policy
Even though the future is unpredictable, they’re prepared to tackle it with technologies that can reduce emissions, support global energy needs, and ensure the long-term sustainability of their business and the planet.
ExxonMobil – Founders and Team
ExxonMobil’s leadership is stacked with talented and experienced individuals who have steered the company to success through their diverse backgrounds and commitment to integrity. Each director brings something unique to the table, so let’s dive into who they are and how their journeys led them to ExxonMobil.
Darren W. Woods
Darren Woods is the Chairman and CEO of ExxonMobil.
Darren Woods grew up in Wichita, Kansas, and took the engineering route early on, earning a bachelor’s degree in electrical engineering from Texas A&M University. He followed that up with an MBA from Northwestern University’s Kellogg School of Management. Woods joined Exxon in 1992, and after 24 years of building his career, he stepped into the CEO role in 2016, succeeding Rex Tillerson. Unlike his predecessor, Woods’ expertise is rooted in the refining and chemical side of the business, which ended up being a major contributor to ExxonMobil’s $7.8 billion net income in 2016. His focus is on maintaining operational excellence while navigating the company through the constantly evolving energy landscape.
Michael J. Angelakis
Michael Angelakis is the independent director of ExxonMobil.
Michael Angelakis brings a wealth of experience across both public and private sectors. A graduate of Babson College, with additional training from Harvard Business School’s Owner/President Management Program, Angelakis’ career spans multiple industries. He currently sits on the boards of Bowlero Corporation, Clarivate PLC, ExxonMobil, and TriNet Group, among others. In addition to his corporate work, he previously chaired the Federal Reserve Bank of Philadelphia and served on boards for Duke Energy, Groupon, and Hewlett Packard Enterprises. His extensive experience in corporate governance makes him a key asset on ExxonMobil’s board.
Angela F. Braly
Angela Braly is the Independent Director of ExxonMobil.
Angela Braly is a powerhouse in the healthcare industry. After graduating from Texas Tech University with an undergraduate degree and earning her Juris Doctor from Southern Methodist University School of Law, she made a name for herself in corporate America. Braly took the helm at WellPoint, Inc. (now Elevance Health) as president and CEO in 2007 and became chair of the board in 2010. Under her leadership, WellPoint became the largest health insurer in the U.S., serving 34 million Americans and generating more than $60 billion in revenue. Braly now sits on several boards, including Brookfield Corporation and ExxonMobil. Her passion for philanthropy led her to co-found The Policy Circle, which is focused on promoting civic engagement among women.
Each of these leaders brings a unique perspective and a wealth of experience to ExxonMobil’s leadership team, helping steer the company toward its goals of operational excellence and sustainable energy innovation.
ExxonMobil – Startup Story
Exxon Mobil’s journey began in 1870 when John D. Rockefeller and his partners founded the Standard Oil Company in Ohio. Fast forward to 1911, the U.S. Supreme Court decided to split Standard Oil into 33 different companies. Among them were Standard Oil of New Jersey (later known as Jersey Standard), Socony Oil, and Vacuum Oil, along with others that kept the Standard Oil name.
Jersey Standard introduced its products under the name “Esso,” which is the phonetic spelling of “S” and “O” for Standard Oil. However, in some states, other Standard Oil companies objected to this branding, so Jersey Standard marketed under different names—Enco (short for Energy Company) and Humble, a company they had acquired. In 1972, Jersey Standard became Exxon Corporation, and by 1999, it merged with Mobil Oil Corporation (formerly Socony-Vacuum Oil) to form what we know today as ExxonMobil.
Throughout its history, ExxonMobil has been a trailblazer in energy products and technology, shaping the way the world consumes energy. Here are some of their most notable innovations:
Octane
In 1938, at a Humble Oil plant in Texas, they pioneered the first commercial production of Alkylate, which allowed for the creation of iso-octane—a key blending agent. By 1976, Mobil developed a new process for converting methanol into high-octane gasoline. Today, every gallon of gasoline in North America contains octane, with fuel grades based on octane ratings.
Motor Oil
In 1952, the Jersey Standard introduced Uniflo, the first motor oil suitable for use in both summer and winter conditions. Then in 1974, Mobil revolutionized the industry with the launch of Mobil 1™, the first synthetic motor oil, which remains the world’s leading synthetic motor oil brand today.
Detergent Gasoline
Mobil led the way in 1968 by developing the first detergent gasoline, which helped reduce deposits inside fuel injectors. Today, all Exxon and Mobil gasoline grades contain these detergent additives, and they exceed the minimum requirements set by the EPA.
Pay at the Pump
In 1986, Mobil was the first gas retailer in the U.S. to introduce pay-at-the-pump convenience. A decade later, in 1997, Mobil launched the Speedpass™ key tag, the first mobile payment device for fueling. This innovation continued with the release of the Speedpass+™ app in 2015 and the Exxon Mobil Rewards+™ app in 2019, combining payment and rewards in one easy-to-use tool.
Gasoline for Better Mileage
In 2016, Mobil introduced its ‘Synergy™; gasoline, a result of 130 years of engineering. With seven key ingredients designed to improve fuel efficiency, Synergy represents its commitment to advancing fuel technology.
ExxonMobil’s legacy is built on innovation and they’re proud to continue shaping the future of energy.
ExxonMobil – Mission and Vision
At ExxonMobil, their mission is to be the world’s foremost petroleum and chemical manufacturer. To reach this goal, they strive for outstanding financial and operational performance, all while upholding unwavering ethical values. The following principles shape their approach to working with shareholders, customers, employees, and the communities they serve:
Shareholders
By ensuring responsible and profitable business operations, they aim to provide their shareholders with strong, sustainable returns.
Customers
Mobil is dedicated to offering innovative, high-quality products and services that meet market demands, all while staying competitive in pricing and remaining responsive to changing preferences.
Employees
To maintain their competitive edge, they focus on attracting top talent and providing ongoing development opportunities to help them thrive. They also foster a diverse and inclusive workplace, where safety, fairness, open communication, and mutual trust are top priorities.
Communities
As a global organization, ExxonMobil is committed to being a responsible and ethical corporate citizen. Safety and environmental stewardship remain central to everything they do.
They are focused on maximizing efficiency and productivity by learning, sharing knowledge, and applying best practices across the organization.
Mobil’s long-term success depends on a clear, focused approach. How? By carefully evaluating capital investments and pursuing opportunities that align with their goals, prioritizing the development of cutting-edge technologies that offer a strategic advantage.
By adhering to these principles and executing its plans with precision, Exxon Mobil aims to remain at the forefront of the energy industry, continually pushing boundaries and delivering on its promises!
ExxonMobil – Name, Tagline and Logo
The ExxonMobil logo features three important design elements: the interlocking X’s, the red color, and the tagline “Energy lives here.” The crossed X’s honor the company’s original name, Esso, blending its historic roots with a modern identity while symbolizing dependability. When Exxon and Mobil merged in 1998, the combined logo represented the unyielding spirit of both companies, signifying their resilience even in the face of adversity. The red color conveys power and vitality, while the tagline emphasizes the brand’s ongoing mission to fuel the world.
ExxonMobil – Business Model
ExxonMobil operates across three key business areas, delivering essential products that power modern life, including energy, chemicals, lubricants, and low-emission technologies. With a world-leading portfolio, they are among the largest global companies in the fuels, lubricants, and chemicals industry.
Leading the Way in Low-Carbon Solutions
ExxonMobil is at the forefront of reducing emissions by providing innovative solutions to industrial and commercial customers. Their efforts focus on expanding carbon capture, hydrogen, and biofuels, paving the way for a more sustainable future.
Driving Innovation in Product Solutions
Through the integration of its downstream and chemical operations, ExxonMobil develops advanced, lower-emission products and fuels. These innovations play a critical role in supporting a cleaner, more efficient energy landscape.
Enhancing Upstream Operations
Their upstream business focuses on boosting energy security by expanding efficient, low-cost oil and natural gas production. By optimizing their operations, ExxonMobil ensures a reliable energy supply while delivering strong returns.
ExxonMobil- Revenue Model
Upstream Operations
ExxonMobil is engaged in the exploration and production of crude oil and natural gas across the globe. Utilizing cutting-edge technology and deep expertise, the company identifies and extracts hydrocarbon reserves. Revenue in this segment comes from the sale of crude oil, natural gas, and related products, making it a crucial contributor to the company’s overall financial performance.
Refining and Marketing
ExxonMobil operates refineries that transform crude oil into valuable refined products like gasoline, diesel, jet fuel, and lubricants. These products are distributed through a vast global network, reaching wholesalers, retailers, and distributors worldwide. By meeting diverse consumer demands, ExxonMobil generates significant revenue from the sale of its refined products.
Chemical Operations
ExxonMobil’s chemical division produces and sells petrochemicals and specialized chemical products. Its integrated refining and chemical manufacturing processes create chemicals used in industries ranging from automotive to packaging, construction, and electronics. Through global sales of these chemicals, the company generates substantial revenue across a variety of sectors.
Liquefied Natural Gas (LNG)
In the LNG market, ExxonMobil is involved in the production, liquefaction, and sale of liquefied natural gas. By developing and operating LNG facilities, the company converts natural gas into a liquid state for easier transport and storage. ExxonMobil supplies LNG to a diverse set of customers globally, including utilities, industrial businesses, and other energy providers.
Technology and Licensing
ExxonMobil also monetizes its proprietary technologies by licensing them to third-party companies. Its advanced expertise in oil and gas operations is in high demand, allowing the company to earn royalties and fees from these licensing agreements. Additionally, ExxonMobil engages in trading and hedging activities to manage price risks and capitalize on market opportunities, enhancing its operational and financial flexibility.
Yash Gupta
ExxonMobil – Employees
A key driver of EExxonMobil’s success is their ability to attract and retain top talent from around the globe. Their people are their greatest asset and their expertise gives the company a strong competitive edge. Developing their teams and nurturing a vibrant company culture is central to their strategy and critical to achieving their long-term goals.
ExxonMobil prioritizes building a diverse and inclusive workforce, where individual and cultural differences are valued. Their aim is to foster a work environment where employees are encouraged to reach their full potential, take on meaningful challenges, and contribute to the company’s overall success. In return, they offer unmatched opportunities for personal and professional growth.
Here’s a snapshot of their workforce:
- Over 20,000 scientists and engineers
- 28% of women in their global workforce
- 32% minorities in their U.S. workforce
- 5% veterans in their total U.S. workforce
- 64% of their employees are based outside the U.S.
ExxonMobil’s commitment to diversity and development strengthens both its organization and its ability to innovate and lead.
ExxonMobil – Challenges Faced
Meeting the world’s ever-growing energy demands is no small feat. Ensuring a steady, reliable supply of affordable energy is crucial for global economic growth and improving people’s quality of life. ExxonMobil, with its expertise and resources, is in a strong position to tackle the major challenges facing the energy industry today.
These challenges include:
- Safely and consistently producing oil, natural gas, and other essential hydrocarbon products.
- Discovering and developing new energy sources to meet future needs.
- Maximizing the value of existing resources and assets.
- Enhancing energy efficiency while minimizing environmental impacts.
- Cultivating the next generation of skilled scientists and engineers.
To navigate these obstacles, ExxonMobil relies on a long-term approach. Their strategy combines a consistent, structured business model with the flexibility to adapt to changing market conditions. They emphasize investing in people, cutting-edge technology, and innovative projects to ensure growth for both the company and its shareholders. At the heart of their efforts are leaders who prioritize integrity, operational excellence, and community development.
ExxonMobil – Shareholders
ExxonMobil’s shareholders are Vanguard Group Inc., BlackRock Inc., and State Street Corp.
- ExxonMobil Low Carbon Solutions: This division focuses on commercializing low-carbon technologies like carbon capture and storage (CCS). The company has committed to investing $3 billion in lower-emission energy projects through 2025.
- As of October 2024, ExxonMobil has a market cap of approximately $514.56 billion.
- Over the trailing 12 months (TTM), it generated $340.6 billion in revenue and achieved a net income of $40.69 billion.
- ExxonMobil’s stock saw an 11% increase in one month.
- Wall Street analysts projected a 24% upside for the stock.
- The company also reported a 10% growth in lube sales for the year.
- Additionally, ExxonMobil has been involved in driving Indonesia’s growth into a carbon capture hub.
ExxonMobil – Investments
- On Feb 8, 2022, Exxon Mobil invested in Global Clean Energy Holdings for $125 million.
- On May 19, 2024, the company laid the foundation stone for a new lubricant-manufacturing plant in Maharashtra, marking a significant investment of INR 900 crore (US$110 million). This is projected to be operational by the end of 2025.
ExxonMobil – Mergers and Acquisitions
ExxonMobil and Pioneer Natural Resources have agreed on a major merger!
ExxonMobil will acquire Pioneer in an all-stock deal valued at $59.5 billion. Based on ExxonMobil’s stock price from October 5, 2023, each Pioneer share will be worth $253. For every Pioneer share, shareholders will receive 2.3234 ExxonMobil shares once the deal closes. When factoring in net debt, the total value of the transaction comes to about $64.5 billion.
This merger brings together Pioneer’s vast, high-quality undeveloped land in the Midland Basin with ExxonMobil’s expertise in developing resources in the Permian Basin. The combination is expected to drive greater efficiency, lower costs, and significantly boost production, positioning the merged entity to lead in both capital performance and resource development.
| Acquisition Date | Acquired Company | Acquisition Price |
|---|---|---|
| October 11, 2023 | Pioneer Natural Resources Company | $64.5 billion |
| July 12, 2023 | Denbury | $4.9 billion |
ExxonMobil – Advertisements and Social Media Campaigns
Sponsorships and Partnerships
ExxonMobil leverages strategic sponsorships and partnerships to boost its brand presence and connect with a wider audience. By aligning itself with high-profile events, sports teams, and organizations that resonate with its values and target demographic, ExxonMobil enhances its visibility in key markets.
One of its notable partnerships is with Formula 1 racing, a long-standing relationship where ExxonMobil highlights its technical expertise and the performance of its products. The demanding world of motorsports serves as the perfect platform for ExxonMobil to showcase the quality and reliability of its fuels and lubricants under extreme conditions.
Digital Advertising
Recognizing the power of digital advertising, ExxonMobil effectively uses online platforms like websites, search engines, and display ads to engage its target audience. By focusing on specific segments—whether it’s industry professionals or environmentally conscious consumers—the company can deliver tailored messages and track the impact of its campaigns.
For example, one of their digital campaigns featured comedian Jenni Pulos, humorously highlighting the busy pace of modern life and the importance of fuel efficiency. The goal was to show how ExxonMobil’s products can help save time by improving fuel economy.
In another creative campaign, ExxonMobil promoted its Speedpass+ mobile payment system by collaborating with social influencers. The 2019 campaign in India, called #PoochaKyunNahi, featured Bollywood star Javed Jaffrey and rapper SlowCheeta. This humorous yet informative campaign encouraged viewers to ask the right questions about engine oil, emphasizing the importance of using the right products for optimal vehicle performance. Through these partnerships, ExxonMobil was able to reach a broad audience engagingly and memorably.
ExxonMobil – Awards and Achievements
- ExxonMobil recently earned the prestigious Seatrade Award for Innovation in Ship Operations for its Mass Flow Metering System (MFMS) technology.
- Nathalie Freeman, Global Marketing Project Advisor, and Iain White, Global Marketing Manager at ExxonMobil, accepted the award at the 28th Seatrade Awards held at London’s Guildhall.
ExxonMobil – Competitors
The main competitors of ExxonMobil include:
- Chevron Corp.
- Royal Dutch Shell
- ConocoPhillips
ExxonMobil – Growth
ExxonMobil Q2 2024 Financial Highlights (NYSE: XOM):
- Revenue: $91.3 billion, up 12% year-over-year.
- Net Income: $9.24 billion, a 17% increase from Q2 2023.
- Profit Margin: 10%, consistent with the previous year.
- Earnings Per Share (EPS): $2.14, up from $1.94 in Q2 2023.
ExxonMobil – Future Plans
- ExxonMobil is ramping up its commitment to lower-emissions initiatives, with plans to invest over $20 billion in such projects by 2027. This marks the third increase in just three years, up from an initial $3 billion in 2021.
- The company recently boosted its efforts further with a $5 billion all-stock acquisition of Denbury, providing access to the largest CO2 pipeline network in the U.S. and expanding its carbon capture and storage capabilities.
- ExxonMobil is also exploring opportunities in lithium, hydrogen, biofuels, and carbon capture and storage (CCS). These ventures are projected to deliver returns of about 15% and have the potential to cut third-party emissions by more than 50 million metric tons annually by 2030. These efforts align with ExxonMobil’s strengths and its ongoing commitment to addressing climate change.
- The company has begun work on its first lithium production phase in southwest Arkansas, an area known for its rich lithium deposits. Production is expected to start in 2027.
- In the Permian Basin, ExxonMobil is progressing toward its goal of achieving net-zero emissions in its unconventional operations by 2030. The company also plans to accelerate Pioneer’s net-zero target by 15 years, moving the goal from 2050 to 2035, and leveraging its greenhouse gas reduction strategies in the region.
FAQs
What is ExxonMobil?
ExxonMobil has grown from a local kerosene marketer in the United States into one of the world’s largest publicly traded petroleum and petrochemical companies. They operate globally and are recognized by our well-known brands: Exxon, Esso, and Mobil.
Who is the CEO of ExxonMobil?
Darren Woods is the CEO of ExxonMobil since 2017.
Who is the biggest competitor of ExxonMobil?
Chevron Corp. is considered to be the biggest competitor of ExxonMobil along with Royal Dutch Shell and ConocoPhillips.
