Exxon Mobil Corporation or ExxonMobil (NYSE: XOM), is an American oil and gas corporation
and a direct descendant of John D. Rockefeller's Standard Oil company.
Formed on November 30, 1999, by the merger of Exxon and Mobil, ExxonMobil is the
world's largest company by revenue, at $404.5 billion for the fiscal year of
2007. It is also the largest publicly held corporation by market capitalization,
at $501.17 billion on April 18, 2008. Exxon's reserves were 72 billion oil-equivalent
barrels at the end of 2007. While it is the largest of the six oil supermajors
with daily production of 4.18 million BOE (barrels of oil equivalent)
in 2007, ExxonMobil's daily production is still surpassed by several of the largest
state-owned petroleum companies and it is only 14th in the world when ranked
by held oil and gas reserves. The company has been the subject of criticism
for its business practices and environmental record.
Exxon Mobil Corporation
was formed in 1999 by the merger of two major oil companies, Exxon and
Mobil. Both Exxon and Mobil were descendants of the John D. Rockefeller corporation,
Standard Oil which was established in 1870. The reputation of Standard
Oil in the public eye suffered badly after publication of Ida M. Tarbell's classic
exposé The History of the Standard Oil Company in 1904, leading to a growing
outcry for the government to take action against the company. |
