ExxonMobil

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A vertically integrated American energy and chemicals corporation created through the 1999 merger of Exxon and Mobil.

Last updated October 31, 2026

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Overview

ExxonMobil is an American multinational energy and petrochemicals corporation headquartered in Spring, Texas. It is the largest direct corporate successor of John D. Rockefeller's Standard Oil structure and combines upstream oil and natural-gas production with refining, fuel marketing, lubricants, chemicals, and lower-carbon technology projects. The company was created when Exxon Corporation and Mobil Corporation completed their merger on November 30, 1999. Exxon was the surviving legal corporation, while the combined brand name retained the principal trade names of both predecessors; Exxon's New York Stock Exchange ticker changed from XON to XOM. The company's lineage reaches back through several Standard Oil successors. Vacuum Oil was founded in 1866 and acquired by Standard Oil in 1879. After Standard Oil's court-ordered breakup in 1911, Vacuum became associated with Standard Oil of New York, later known as Socony and eventually Mobil. In the eastern United States, Standard Oil of New Jersey expanded through acquisitions including Humble Oil, developing the Esso, Enco, and Humble identities before adopting Exxon as a unified U.S. brand in 1972. The Mobil heritage includes service stations, refining, lubricants, aviation fuels, and a major chemicals business. ExxonMobil is organized around three broad business areas: Upstream, Product Solutions, and Low Carbon Solutions. Upstream covers exploration, development, production, transportation, and wholesale activities involving crude oil and natural gas. Important positions include the Permian Basin and other U.S. shale and offshore assets, Guyana's Stabroek block, Canadian oil sands, LNG projects, and international production interests. XTO Energy is the principal ExxonMobil subsidiary for U.S. natural-gas operations. The company exited Iraq's West Qurna 1 field in 2024 and withdrew from Russia after the invasion of Ukraine, including its interest in Sakhalin-I. Product Solutions combines the former downstream and chemical businesses. Exxon, Mobil, and Esso remain the principal retail and fuel brands, with their use varying by country and U.S. region. Mobil 1 is the company's best-known global lubricant brand and has extensive motorsport associations. Refineries produce gasoline, diesel, jet fuel, marine fuels, base stocks, and other petroleum products. ExxonMobil Chemical produces olefins, aromatics, polyethylene, polypropylene, elastomers, plasticizers, solvents, synthetic lubricant base stocks, additives, films, catalysts, and other industrial materials. Infineum, its joint venture with Shell, makes lubricant and fuel additives. Low Carbon Solutions was established in the 2022 restructuring and focuses on carbon capture and storage, hydrogen, biofuels, industrial decarbonization, and emerging technologies such as lithium extraction. ExxonMobil has promoted carbon capture as a core route for reducing industrial emissions and has pursued projects in the U.S. Gulf Coast. It began lithium drilling in Arkansas in 2023 and has explored supply relationships for electric-vehicle battery materials. In 2023 it announced the acquisition of Denbury, whose carbon-dioxide pipeline and storage assets supported ExxonMobil's carbon-management strategy. In 2024 it completed the acquisition of Pioneer Natural Resources, substantially enlarging its Permian Basin position. ExxonMobil is also one of the world's most controversial corporations. Its environmental record includes the 1989 Exxon Valdez oil spill, which occurred before the Exxon-Mobil merger but remains central to the Exxon corporate legacy. The company has faced lawsuits and criticism over oil spills, refinery pollution, greenhouse-gas emissions, alleged climate-change misinformation, and human-rights issues connected with international operations. These controversies coexist with the company's continued role as one of the world's largest investor-owned oil and gas businesses and a major supplier of fuels, chemicals, lubricants…

History

ExxonMobil's history is rooted in the breakup and subsequent development of Standard Oil. Vacuum Oil, established in 1866, became a Standard Oil affiliate in 1879. The 1911 dissolution of Standard Oil separated the enterprise into legally distinct companies. Vacuum later combined with Standard Oil of New York, creating the corporate lineage that developed into Socony and then Mobil. Mobil inherited major businesses in fuels, lubricants, refining, aviation, and chemicals, and eventually became one of the two immediate predecessors of ExxonMobil. The other lineage ran through Standard Oil of New Jersey, commonly called Jersey Standard. It expanded during the twentieth century, including through its acquisition of Humble Oil in the 1930s. The company used several related identities, including Esso, Enco, and Humble, because the Standard Oil name was subject to regional trademark restrictions after the breakup. To create a more unified identity in the United States, Jersey Standard selected Exxon in 1972. Exxon subsequently became a major international producer, refiner, marketer, and chemicals company. Exxon and Mobil agreed to combine in 1998, at a time when the oil industry was undergoing consolidation. The transaction closed on November 30, 1999. Exxon was the surviving legal entity and acquired Mobil, although the new corporate identity combined both names. The merger created a vertically integrated company spanning exploration and production, transportation, refining, retail distribution, lubricants, and petrochemicals. The Exxon legacy was also shaped by the 1989 Exxon Valdez tanker disaster in Alaska. The spill occurred before the merger, but its legal, environmental, and reputational consequences continued to affect ExxonMobil. In later decades the company expanded its U.S. shale and offshore businesses, acquired XTO Energy in 2010, and maintained large international projects in LNG, oil sands, offshore oil, and natural gas. It formed Product Solutions and Low Carbon Solutions as part of a 2022 restructuring that combined downstream and chemicals activities and created a dedicated lower-carbon business. The company announced a withdrawal from Russia after the 2022 invasion of Ukraine and initiated legal action concerning its interests and exit. In 2023 it agreed to acquire Denbury to build carbon-dioxide transportation and storage capacity. In 2023 it also began drilling for lithium in Arkansas. In 2024 ExxonMobil completed its acquisition of Pioneer Natural Resources, a major strategic move that expanded its Permian Basin footprint, and ended its participation in West Qurna 1 in Iraq. Its current strategy continues to combine conventional oil and gas growth with chemicals, refining, carbon capture, hydrogen, biofuels, and emerging minerals projects.

2024
Pioneer acquisition completed
[7]Business restructuringcorporate.exxonmobil.com
ExxonMobil completes its acquisition of Pioneer Natural Resources after antitrust review.
2023
Beaumont refinery expansion
[7]Business restructuringcorporate.exxonmobil.com
The company completes a major capacity expansion at its Beaumont, Texas, refinery.
2022
Business restructuring
[7]Business restructuringcorporate.exxonmobil.com
ExxonMobil creates Product Solutions and Low Carbon Solutions as major organizational divisions.
2010
XTO Energy acquisition
[3]ExxonMobil historycorporate.exxonmobil.com
ExxonMobil acquires XTO Energy, strengthening its natural-gas and unconventional-resource business.
1999
ExxonMobil merger closes
[1]ExxonMobilen.wikipedia.org
The merger closes on November 30, creating the combined ExxonMobil corporation.
1998
Exxon and Mobil agree to merge
[1]ExxonMobilen.wikipedia.org
The two companies announce the transaction that will create ExxonMobil.
1989
Exxon Valdez oil spill
[4]Exxon Valdez oil spillen.wikipedia.org
The Exxon Valdez tanker spills oil in Alaska, becoming one of the most consequential environmental disasters associated with the Exxon corporate lineage.
1972
Exxon name adopted
[1]ExxonMobilen.wikipedia.org
Jersey Standard adopts Exxon as a unified brand in the United States.
1931
Vacuum Oil merges with Socony
[1]ExxonMobilen.wikipedia.org
Vacuum Oil combines with Standard Oil of New York, strengthening the lineage that becomes Mobil.
1911
Standard Oil is dissolved
[6]Standard Oil is dissolveden.wikipedia.org
A court-ordered breakup creates the legally separate corporate branches from which Exxon and Mobil later develop.
1879
Vacuum Oil joins Standard Oil
[1]ExxonMobilen.wikipedia.org
Standard Oil acquires Vacuum Oil.
1866
Vacuum Oil is founded
[1]ExxonMobilen.wikipedia.org
Vacuum Oil Company is established, forming part of the later Mobil and ExxonMobil corporate lineage.

Products and positioning

A globally integrated energy and chemicals company emphasizing scale, technological capability, operational integration, resource development, and carbon-management solutions.

Energy production
Upstream oil and natural gas
ExxonMobil explores for, develops, produces, transports, and markets crude oil and natural gas. Its portfolio includes U.S. shale and offshore assets, the Permian Basin, Canadian oil sands, LNG projects, and international offshore developments such as Guyana's Stabroek block. XTO Energy is a principal vehicle for U.S. natural-gas operations.
Retail fuels
Exxon, Mobil, and Esso fuels
The company sells gasoline, diesel, lubricants, and related vehicle products through Exxon, Mobil, and Esso identities. Exxon is concentrated in much of the United States, Mobil has strong representation in several U.S. regions and international markets, and Esso is used primarily outside the United States.
Lubricants · 1974
Mobil 1
Mobil 1 is ExxonMobil's flagship synthetic motor-oil brand. It serves passenger vehicles, commercial applications, and motorsport partnerships, and has been associated with racing teams and NASCAR sponsorship.
Petrochemicals · 1999
ExxonMobil Chemical
The chemical business manufactures basic olefins and aromatics, ethylene glycol, polyethylene, polypropylene, elastomers, plasticizers, solvents, oxo alcohols, adhesive resins, lubricant base stocks, additives, films, and catalysts. Its materials serve packaging, automotive, construction, industrial, and consumer applications.
Lower-carbon energy · 2022
Low Carbon Solutions
This division develops carbon capture and storage, low-carbon hydrogen, biofuels, industrial decarbonization, and other technologies. ExxonMobil also uses the division to develop carbon-management infrastructure and assess emerging opportunities such as lithium extraction.

Controversies

2026
ExxonMobil fined £267,000 over flammable gas leaks at Scottish plant
ExxonMobil Chemical Limited was fined £267,000 at Kirkcaldy Sheriff Court after admitting breaches of the Health and Safety Act 1974 and the Provision and Use of Work Equipment Regulations 1998 related to five leaks of highly flammable hydrocarbons at the former Fife Ethylene Plant at Mossmorran between 2018 and 2019. The HSE said the leaks were caused by corrosion under insulation and that the inspection system was not fit for purpose.
Source
2024
Baytown environmental-law penalties
A federal appeals court affirmed reduced civil penalties connected with alleged violations at ExxonMobil's Baytown refinery and chemical facilities.
Source
2023
Multnomah County sues ExxonMobil, Shell, BP, Chevron, NW Natural and others over climate damages
Multnomah County filed a lawsuit seeking nearly $52 billion from more than a dozen major oil and gas companies, including ExxonMobil, Shell, BP, Chevron, and NW Natural, as well as industry lobbyists and McKinsey & Company. The suit seeks to hold the defendants responsible for climate change impacts affecting the county, including the 2021 Pacific Northwest heat dome.
Source
2022
Public criticism of ExxonMobil’s net-zero pledge
ExxonMobil announced a net-zero emissions goal for its operations by 2050, excluding customer-use emissions. The pledge drew criticism from an academic and online users, with some calling the plan bogus.
Source
2021
ExxonMobil disclosed emissions from use of its energy products
In a 2021 disclosure, ExxonMobil reported the full extent of its Scope 3 emissions arising from the final use of its energy products. According to the source report, these emissions exceed Canada's annual national emissions. The disclosure concerns emissions generated when the company's energy products are used, rather than emissions from its own operations. The report presents the disclosure as the first time the company made public the emissions associated with oil and gas product use.
Source
2021
Fire at Exxon’s Baytown refinery injures four people
A fire occurred at Exxon Mobil’s Baytown facility in Texas, injuring four people. Exxon said the fire occurred in a unit that removes sulfur from refined products; the blaze was later reported under control and the injured workers were in stable condition.
Source
2021
Court approves Exxon Mobil settlement over Puerto Rico water pollution claims
A Puerto Rico court approved a $25 million settlement resolving claims against Exxon Mobil Corporation and Esso Standard Oil Company over allegations that the companies polluted drinking water with gasoline additives. Exxon Mobil also agreed to create a program to investigate and clean up pollution at various locations around Puerto Rico.
Source
2021
Annapolis sues fossil fuel companies over climate change
The City of Annapolis filed a lawsuit against 26 oil and gas companies, including ExxonMobil, Chevron, BP and Shell, alleging that their conduct contributed to climate-change costs and consequences.
Source
2020
ExxonMobil apologizes after intense flaring at Fife plant
ExxonMobil management issued an apology following intense flaring at its Fife chemical plant, an incident that caused alarm within the local community. The company's statement acknowledged the community's concern over the flaring event. The apology was reported in February 2020. No further details on the cause, duration, or consequences of the flaring were provided in the source.
Source
2020
Minnesota files climate-related consumer fraud suit against ExxonMobil, Koch Industries and API
Minnesota Attorney General Keith Ellison filed a consumer fraud lawsuit against ExxonMobil, Koch Industries and the American Petroleum Institute. The suit alleges that the defendants misled Minnesotans about the role fossil fuels play in causing the climate crisis. The source reports the allegations made in the filing and does not state that a court has reached any determination on them.
Source 1 Source 2 Source 3 Source 4 Source 5 Source 6 Source 7 Source 8

Marketing campaigns

2018ExxonMobil Rewards+
United States · United Kingdom
ExxonMobil introduced a loyalty program allowing participating fuel customers to earn rewards points at company-branded stations.
Outcome. Created a direct retail relationship and digital loyalty channel.
Source
2003Mobil 1 motorsport sponsorship
United States · International
Mobil 1 expanded its motorsport platform through racing-team partnerships and became the official motor oil of NASCAR.
Outcome. Ongoing brand visibility and technical positioning for Mobil 1.
Source

Brand decisions

2023
Acquire DenburyM&A
Background
ExxonMobil sought carbon-dioxide transportation and storage infrastructure to support a Gulf Coast carbon-management business.
Action taken
The company agreed to acquire Denbury for approximately $4.9 billion.
Aftermath
The transaction expanded ExxonMobil's carbon-dioxide pipeline and storage platform.
Transaction value. Approximately $4.9 billion (Announced 2023)
Source
2023
Acquire Pioneer Natural ResourcesM&A
Background
ExxonMobil wanted to expand its position in the Permian Basin and strengthen its U.S. unconventional oil and gas portfolio.
Action taken
The company announced an all-stock acquisition of Pioneer and completed it in 2024 after regulatory review.
Aftermath
ExxonMobil substantially increased its Permian Basin holdings and production position.
Announced transaction value. Nearly $60 billion (Announced 2023; completed 2024)
Source
2022
Create Low Carbon SolutionsStrategy
Background
ExxonMobil sought a dedicated structure for carbon capture, hydrogen, biofuels, and other lower-carbon opportunities.
Action taken
The company established Low Carbon Solutions alongside the reorganized Product Solutions business.
Aftermath
Carbon management became a formal strategic business area while oil, gas, refining, and chemicals remained central to the portfolio.
Source
1999
Merge Exxon and MobilM&A
Background
The transaction responded to industry consolidation and combined two large Standard Oil successor businesses.
Action taken
Exxon completed its acquisition of Mobil and adopted the ExxonMobil identity.
Aftermath
The merger created a vertically integrated global energy and chemicals company.
Source

Recent events

2024
ExxonMobil completes acquisition of Pioneer Natural Resources[7]Business restructuringcorporate.exxonmobil.com
M&A
ExxonMobil completed its all-stock acquisition of Pioneer after regulatory review, expanding its holdings and production position in the Permian Basin.
2024
ExxonMobil exits West Qurna 1 in Iraq[1]ExxonMobilen.wikipedia.org
Other
The company ended its participation in Iraq's West Qurna 1 oil field, completing its withdrawal from Iraqi energy operations.
2024
ExxonMobil and CF Industries sign carbon-storage agreement[7]Business restructuringcorporate.exxonmobil.com
Other
The companies announced an agreement under which ExxonMobil would transport and permanently store carbon dioxide from CF Industries' operations.
2023
ExxonMobil advances lithium extraction in Arkansas[29]埃克森美孚推进阿肯色州锂提取项目corporate.exxonmobil.com
Product launch
ExxonMobil began drilling activity aimed at assessing lithium resources in Arkansas for potential battery-material production.
2023
ExxonMobil acquires Denbury[7]Business restructuringcorporate.exxonmobil.com
M&A
The company agreed to acquire Denbury for approximately $4.9 billion, gaining carbon-dioxide pipeline and storage infrastructure.

Sources81 sources

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