Exxon Mobil Corp., or ExxonMobil, is an American multinationaloil and gas corporation headquartered in Irving, Texas, United States. It is a direct descendant of John D. Rockefeller’s Standard Oil company, and was formed on November 30, 1999, by the merger of Exxon and Mobil (formerly Standard Oil of New Jersey and Standard Oil of New York). It is affiliated with Imperial Oil which operates in Canada.
The world’s third largest company by revenue, ExxonMobil is also the second largest publicly traded company by market capitalization. The company was ranked No. 5 globally in Forbes Global 2000 list in 2013. ExxonMobil’s reserves were 72 billion BOE (barrels of oil equivalent) at the end of 2007 and, at then (2007) rates of production, were expected to last more than 14 years. With 37 oil refineries in 21 countries constituting a combined daily refining capacity of 6.3 million barrels (1,000,000 m3), ExxonMobil is the largest refiner in the world, a title that was also associated with Standard Oil since its incorporation in 1870.
ExxonMobil is the largest of the world’s supermajors with daily production of 3.921 million BOE. In 2008, this was approximately 3 percent of world production, which is less than several of the largest state-owned petroleum companies. When ranked by oil and gas reserves, it is 14th in the world—with less than 1 percent of the total.
ExxonMobil has been subject to numerous criticisms, including the lack of speed during its cleanup efforts after the 1989 Exxon Valdez oil spill in Alaska, widely considered the number one spill worldwide in terms of damage to the environment. ExxonMobil has drawn criticism for funding organizations that are skeptical of the scientific opinion that global warming is caused by the burning of fossil fuels. Questions have been raised about the legality of the company’s foreign business practices. Critics note that ExxonMobil increasingly drills in terrains leased by dictatorships. The company has also been the target of accusations of improperly dealing with human rights issues, influence on American foreign policy, and its impact on the future of nations.
ExxonMobil markets products around the world under the brands of Exxon, Mobil, and Esso. It also owns hundreds of smaller subsidiaries such as Imperial Oil Limited (69.6 percent ownership) in Canada, and SeaRiver Maritime, a petroleum shipping company.
The upstream division dominates the company’s cashflow, accounting for approximately 70 percent of revenue. The company employs over 82,000 people worldwide, as indicated in ExxonMobil’s 2006 Corporate Citizen Report, with approximately 4,000 employees in its Fairfax downstream headquarters and 27,000 people in its Houston upstream headquarters.
Exxon Mobil donates to nonprofit organizations that is highly encouraging for the service of humanity. Exxon Mobil Donates to Nonprofiteers.
Beyond ExxonMobil’s contributions, employees, retirees and their families contribute their own time and money to charitable organizations. In 2012, U. S. employees and retirees donated more than $18.3 million to colleges, universities, and charitable organizations through ExxonMobil’s matching gift programs and ExxonMobil Foundation contributed more than $32.9 million by matching employees’ and retirees’ gifts. More than 13,000 ExxonMobil employees, retirees and their family members in the United States volunteered more than 617,000 hours of their personal time in 2012. In recognition of these efforts, ExxonMobil contributed more than $8.8 million to more than 4,280 non-profit organizations where they volunteered.
The Educational Matching Gift Program is intended to encourage giving to higher education by ExxonMobil employees, retirees and surviving spouses. Each calendar year, an eligible donor may have up to $7,500 in gifts to U.S. colleges and universities and to certain consortia of minority colleges and universities matched by the ExxonMobil Foundation. The matching ratio is $3 for every $1 contributed by the individual.
The Cultural Matching Gift Program encourages and assists employees, retirees and surviving spouses in their personal giving to cultural institutions by providing a matching contribution. Each calendar year, an eligible donor may have up to $2,000 in gifts to cultural institutions matched by the ExxonMobil Foundation. The matching ratio is $1 for every $1 contributed by the individual.
The Individual Volunteer Involvement Program seeks to encourage employees, retirees and their families to volunteer in the community on an individual basis. A $500 grant is awarded to a charitable, non-profit organization after an eligible participant volunteers at least 20 hours of their time to the organization during a calendar year.
