ExxonMobil
ExxonMobil Corporation is an American multinational oil and gas corporation and the largest direct descendant of John D. Rockefeller's Standard Oil. The company, which took its present name in 1999 per the merger of Exxon and Mobil, is vertically integrated across the entire oil and gas industry, and within it is also a chemicals division which produces plastic, synthetic rubber, and other chemical products. ExxonMobil is headquartered near the Houston suburb of Spring, Texas, though officially incorporated in the U.S. state of New Jersey. The company is the largest oil and gas company based in the US, America's third largest by revenue among all industries, and the eighth largest in the world.
Some of the key events about ExxonMobil
- 1911Standard Oil of New Jersey (later ExxonMobil) established the first industrial research laboratory in the United States oil industry
- 1911Standard Oil Trust was dissolved due to antitrust violations, leading to the creation of several successor companies including predecessors of ExxonMobil
- 1938Developed and commercialized butyl rubber, a synthetic rubber with important applications
- 1959Introduced the first synthetic automotive lubricant, Mobil 1
- 1962Pioneered 3D seismic technology for oil exploration
- 1976Developed and implemented catalytic converters to reduce vehicle emissions
- 1989Played a significant role in the Valdez oil spill cleanup efforts in Alaska
- 1989The Exxon Valdez oil tanker ran aground in Alaska, spilling 11 million gallons of crude oil and causing massive environmental damage
- 1999Merged Exxon and Mobil to form ExxonMobil, creating one of the world's largest publicly traded companies
- 1999Exxon and Mobil merged, raising concerns about reduced competition and increased market power in the oil industry
- 2001The company was accused of human rights abuses in connection with its operations in Aceh, Indonesia
- 2006A federal jury found ExxonMobil liable for contaminating groundwater in New York City with the gasoline additive MTBE
- 2007Invested $100 million in Stanford University's Global Climate and Energy Project
- 2009ExxonMobil paid $600 million in damages for the 1989 Valdez oil spill after years of legal battles
- 2013Launched a program to improve education in science, technology, engineering, and mathematics (STEM) across the United States
- 2013The company's pipeline ruptured in Mayflower, Arkansas, spilling thousands of barrels of heavy crude oil in a residential area
- 2015Investigations revealed ExxonMobil had known about climate change since the 1970s but publicly denied its existence and funded climate change denial
- 2016ExxonMobil was fined $12 million for environmental violations related to a 2011 oil spill in the Yellowstone River
- 2018Joined the Oil and Gas Climate Initiative, committing to reduce methane emissions and flaring intensity
- 2019The company faced a lawsuit in Massachusetts for allegedly deceiving consumers and investors about climate change risks
Disclaimer: This material is written based on information taken from open sources, including Wikipedia, news media, podcasts, and other public sources.
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