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Concept
ExxonMobil
Summary
Exxon Mobil Corporation (commonly shortened to Exxon) is an American multinational oil and gas corporation and the largest direct descendant of John D. Rockefeller's Standard Oil. The company, which took its present name in 1999 per the merger of Exxon and Mobil, is vertically integrated across the entire oil and gas industry, and within it is also a chemicals division which produces plastic, synthetic rubber, and other chemical products. ExxonMobil is headquartered in the Houston suburb of Spring, Texas, though officially incorporated in New Jersey.
ExxonMobil's history traces its earliest roots to 1866 with the formation of the Vacuum Oil Company, itself acquired by Standard Oil in 1879. The company that is today known as ExxonMobil grew out of the Standard Oil Company of New Jersey (or Jersey Standard for short), the corporate entity which effectively controlled all of Standard Oil prior to its breakup. Jersey Standard grew alongside and with extensive partnership another Standard Oil descendant and its future merger partner, the Standard Oil Company of New York (Socony), both of which grew bigger by merging with various third companies like Humble Oil (which merged with Jersey Standard) and Vacuum Oil (merged with Socony). Both companies underwent rebranding in the 1960s and early 1970s, and by the time of the 1999 merger, Jersey Standard had been known as Exxon, and Socony known as Mobil. The merger agreement between Exxon and Mobil stipulated that Exxon would buy Mobil and rebrand as ExxonMobil, with Mobil's CEO becoming the vice-chairman of the company.
ExxonMobil is one of the world's largest and most powerful companies. ExxonMobil since its merger varied from the first to tenth largest publicly traded company by revenue, and has one of the largest market capitalizations out of any company. As of 2022, in the most recent rankings released in the Fortune 500, ExxonMobil was ranked sixth, and twelfth on the Fortune Global 500.
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