ExxonMobil, the number two company in the Fortune 500 list, is an oil and gas major which helps the world to meet its growing energy needs through innovation and use of technology. It is one of the largest integrated refiners, petroleum products marketers and chemical manufacturers in the world. Over the past 125 years, ExxonMobil has evolved into the world’s largest publicly traded international energy company after starting off as a regional kerosene oil marketing company.
Exxon Mobil Corp., an American multinational oil and gas company, has its headquarters in Irving, Texas. ExxonMobil is the direct descendant of Standard Oil Company established by John D. Rockefeller. It was formed in November 1999 following the merger of Exxon (Standard Oil Company in New Jersey) and Mobil (Standard Oil Company in New York).
ExxonMobil is the fifth largest company in the world in terms of revenue and the third largest publicly traded company on the basis of market capitalization. In 2014, the company was ranked 6 in the Forbes Global 2000 list and was also adjudged as the second most profitable corporation in the list of Fortune 500 companies.
It is the largest among the supermajors in the world with a production of 3.921 million barrels of oil equivalent (BOE) per day. In terms of the reserves of oil and gas it holds, it is ranked fourteenth in the world. The oil and gas company has 37 numbers of oil refineries located in 21 countries around the world. They constitute a combined refining capacity of as much as 6.3 million barrels per day.
Key Financials of ExxonMobil (as of last fiscal year)
- Revenues in billion: $382.597 (a decline of 6 percent from a year ago)
- Profits in billion: $32.520 (no change from previous year)
- Total stockholder equity: $174.399
- Number of employees: 83,700
- Market value (as of 31 March 2015) in billion: $356.549
In order to push ExxonMobil out of its number two position in the Fortune 500 list, it is not enough if oil prices plummet. This is because even the closest competitor to the oil and gas major is also going through the woes being faced by the industry. In fact, the revenue decline experienced by Exxon in 2014 is less (compared to that a year ago) despite the oil glut around the world contributing to more than 50 percent reduction in crude oil prices. Profits remained flat on year-on-year basis in 2014 after it fell by a whopping 27 percent in 2013.
ExxonMobil is planning to implement new projects in the Middle East, Indonesia and Canada after it suffered a setback in the Arctic region, where its joint venture with Russia is put on hold because of economic sanctions.