Quick Look: Exxon at a Glimpse
- Oil & Gas Multinational Company of America
- Industry: Oil and Gas
- Products: Petrochemicals, Lubricants, Fuels
- Exxon’s Net Worth: $486.429 billion
- Founded: November 30, 1999
ExxonMobil’s Net Worth
ExxonMobil is an American oil and gas corporation and has earned a net worth of $486.429 billion. ExxonMobil is a merger between two companies- Exxon and Mobil. It was founded on November 30, 1999 with its headquarters in Irving, Texas. The company majors into exploration, production and transportation of oil and gas, manufacturer of petrochemicals, plastics, and other petroleum products. At present, Exxon is one of the largest oil & gas companies of the world producing 3.291 million barrels of oil per day. Initially, it was a part of John D. Rockefeller’s Standard Oil Company. It is the world’s largest corporation in terms of revenue generation.
Since its incorporation, ExxonMobil has expanded its businesses to a great extent. It has numerous operating divisions, which are divided into three categories:
Upstream division is located in Houston, Texas, and includes ExxonMobil Gas and Power Marketing Company, ExxonMobil Production Company, ExxonMobil Development Company, and ExxonMobil Exploration Company.
Downstream division is based at Fairfax, Virginia, and comprises ExxonMobil Fuels, Lubricants & Specialties Marketing Company, ExxonMobil Research, ExxonMobil Refining and Supply Company, and Engineering Company.
Chemical division is located in Houston, Texas, and runs a number of companies, like ExxonMobil Chemical Company, ExxonMobil Information Technology, ExxonMobil Global Services Company.
Joint Ventures with Other Companies
ExxonMobil collaborated with Royal Dutch Shell and formed ‘Infineum’ to produce lubricants and fuel additives. Another joint venture with Shell Oil is ‘Aera Energy LLC’. In 2011, ExxonMobil joined hands with a Russian Oil Company- Rosenoft, in order to build two offshore oil fields in Russia- the ‘Tuapse Field’ in the Black Sea and the ‘East-Prinovozemelsky’ field in the Kara Sea.
In 2005, ExxonMobil earned revenue of $340 billion, which was more than Wal-Mart. In 2006, it made the profit of $39.5 billion with a market value of $460.43 billion.
The company recorded a net income of $40.61 billion with revenue of $404.552, in 2007. Furthermore, in 2010, for ‘Largest Corporate Quarterly Earnings of All Time’ it occupied a total of 8 out of 10 slots.