Vision:
Safely distributing the energy with innovative services
Mission:
To be known as the premier petroleum company across the world
Core Values:
Safety and security
Diversity and integrity
Flexible work environment
Right inclusion process
Path to Challenges & Success:
In 1998, both Exxon and Mobil signed a deal of $73.7 Billion for the process of merger
In September 1999, the merger got approval from the European commission
The company came into existence on November 30, 1999, with the merger of Exxon and Mobil
The company Standard Oil founded by John D.Rockefeller later came to known as ExxonMobil
In 2000, the company had its majority of earnings from the refining process
In 2007, it achieved the success of generating 3.921 million oil barrels
In 2009, the company sold its one of the coal mines in USA
In 2011, there was a major oil spillover at the Yellowstone river
In 2012, it acquired a deal to explore the oil reserves in Iraq
In 2012, it went off with the project of development of coalbed methane in Australia
In the same year, there was a major burst in the pipeline of Exxon Corp Baton Rouge
In 2013, the pipeline at Mayflower was ruptured causing the evacuation of homes around it
As of 2014, the company had 14.6 million acres in USA
In 2016, it achieved the success of generating 20 billion barrels of oil
In 2016, the CEO of the organization got nominated for the position of secretary of state
In 2016, the company convinced US Federal court to lift the law hampering them to use Esso
In 2017, the company challenged the US government of not violating the sanctions law against Russia
In 2017, there was another revelation of the company doing business with Sudan, Syria, and Iran; countries on the list of sanctions by USA
In 2019, InfluenceMap stated that ExxonMobil is one of the companies spending a huge amount in blocking the policies on climate change
COVID-19 Effect on ExxonMobil:
The fallout is clearly visible on the capital expenditure of ExxonMobil
In April 2020, the company announced it would lower the capital expenditure by 30%
It would reduce the forecast investment from a whopping $33 billion to around $23 billion
Where ExxonMobil stands today?
ExxonMobil is now testing the market of Low-Sulfur
It would provide 0.5% of the Sulfur fuel in almost 7 ports
The organization is ready to fight the double whammy of pandemic and the global oil price war
In the latest news, the organization plans to pump $30 billion yearly for rebuilding the damage by the COVID-19 pandemic and global slowdown. It closed to 0.5% higher with the valuation of $178 billion in the New York Stock Exchange on July 31st, 2020.
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