Exxon Mobil Corporation is a large petroleum company. It was formed in 1999 when the two largest oil companies in the United States, the Exxon and Mobil corporations, merged. The company is also known as ExxonMobil.
Both Exxon and Mobil began as part of the Standard Oil Trust established by John D. Rockefeller in 1882. In 1911, an antitrust ruling by the Supreme Court of the United States forced the trust to dissolve. The trust was broken up into 34 companies, including the Standard Oil Company of New Jersey and the Standard Oil Company of New York. The New Jersey company changed its name to Exxon Corporation in 1972. The Standard Oil Company of New York became Mobil Oil Corporation in 1966. In 1976, Mobil Oil became a subsidiary of a newly formed Mobil Corporation. See Standard Oil Company.
ExxonMobil’s principal activities include every phase of the oil and natural gas industry. It owns thousands of oil wells and natural gas wells, and its refineries together can produce millions of barrels of petroleum products daily. It owns or co-owns tens of thousands of miles or kilometers of pipeline and operates one of the world’s largest tanker fleets. Tens of thousands of gas stations worldwide sell the company’s products. ExxonMobil also takes part in the research and development of such energy sources as coal, hydrogen, and solar power, and of improved technologies for lithium batteries. In addition, the company manufactures petrochemicals (chemicals made from petroleum or natural gas) and has mining interests. The company’s corporate headquarters are in Spring, Texas, near Houston.
Before the merger, Exxon was involved in one of the largest oil spills in U.S. history. In March 1989, the tanker Exxon Valdez struck a reef off southeastern Alaska, spilling nearly 11 million gallons (42 million liters) of crude oil. Exxon paid over $3.5 billion for cleanup, compensation, and environmental restoration.
See also Alaska (Recent developments); Exxon Valdez oil spill.
