Exxon Mobil Corporation (NYSE: XOM)
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About the company
Exxon Mobil is the world's #1 publicly held oil company. The integrated oil and gas giant, which explores for and produces oil around the world, has proved reserves of 1.1 billion barrels of oil equivalent. It also produces petrochemicals and mines coal and other minerals. The company has large oil and gas assets in Europe (Germany, the Netherlands, Norway, and the UK) and the US. It operates more than 45,000 gas stations worldwide, putting a tiger in the tanks of eight million drivers daily. The company is the result of a merger between Exxon and Mobil corporations completed December 1, 1999. For news stories on the merger click here
Company Web sites
EXXON MOBIL CORPORATE HQ:
5959 Las Colinas Boulevard
EXXON MOBIL PIPELINE / UPSTREAM HQ:
800 Bell Street
EXXON MOBIL FUELS MARKETING HQ:
3225 Gallows Road
News on ExxonMobil
ExxonMobil Future Headquarters - Spring, TX
FEATURES & OPINIONS
Company Background ResearchExxon Mobil Chemical
Merrill Lynch Research Headlines
Recent Exxon Mobil Patents
Registration Listing for Exxon Mobil Web Sites
ExxonMobilHQ - Dallas Texas
Analyst Reviews / Recommendations
Earnings Reports & Earnings Related SEC Filings
Exxon Mobil Corp
From Exxon and Mobil Merger
November 30, 1999 - Exxon/Mobil Agree to Largest FTC Divestiture Ever in Order to Settle FTC Antitrust Charges; Settlement Requires Extensive Restructuring and Prevents Merger of Significant Competing U.S. Assets
Message Boards ExxonMobil
StockHouse Bullboards - Not active
Email / Contacts
Media Relations of Exxon Mobil Corporation,
The ExxonMobil History and 1999 Merger Story
History In The Making:
The Exxon and Mobil merger reunited the biggest pieces of John D. Rockefeller's Standard Oil monopoly.
In 1868, the Standard Oil Company was organized in Pittsburgh, Pennsylvania. In 1870, the Standard Oil Company was incorporated in Ohio. Through a series of acquisitions in a variety of petroleum interests, Rockefeller, in 1882, organized them in New Jersey under the Standard Oil Trust moniker. That same year marked the incorporation of two refining and marketing organizations -- Standard Oil Co. of New Jersey and Standard Oil Co. of New York. "Jersey Standard" and "Socony," as they were commonly known, were the chief predecessor companies of Exxon and Mobil, respectively. Within a decade, the Standard Oil Trust controlled 90 percent of all oil produced in the United States. The federal government brought suit against the Trust under the Sherman Anti-Trust Act, and in 1911, the Supreme Court broke up Standard Oil into 33 companies. Eight of those retained the "Standard Oil" moniker.
The newly independent Vacuum Oil Company and Standard Oil Company of New York (Socony) separately marketed fuels throughout the world until 1931 when the two merged. In 1955, Socony-Vacuum became Socony Mobil Oil Co. and, in 1966, simply Mobil Oil Corp.
Meanwhile, Jersey Standard acquired a 50 percent interest in Humble Oil & Refining Co. and marketed fuels under multiple brand names including Esso, Enco, Standard, and Humble. In 1972, Jersey Standard changed its name to Exxon Corporation and established Exxon as an uncontested trademark throughout the United States. In other parts of the world, Exxon and its affiliated companies continued to use its long-time Esso trademark and affiliate name.
In 1998, Exxon and Mobil signed a definitive agreement to merge and form a new company called Exxon Mobil Corporation. After shareholder and regulatory approvals, the merger was completed November 30, 1999. The merged company, Exxon Mobil Corporation is now based in Irving, TX with major U.S. divisional offices in Fairfax, VA and Houston, TX. It employs a combined 106,000 people worldwide. At the completion of the merger, the company had about 7 Billion shares outstanding with a Market Capitalization of just under $280 Billion.
Some of the other formerly well known "Standard Oil" companies include BP (which purchased Amoco formerly Standard Oil of Indiana, also purchased SOHIO formerly Standard Oil of Ohio). Chevron Texaco (specifically Chevron) which was formerly Standard Oil of California & Standard Oil Of Kentucky. Continental Oil Company became Conoco and presently under the umbrella of ConocoPhillips. In 1966 Atlantic Refining merged with Richfield to become ARCO. Subsequently, in 1985, ARCO divested its East Coast marketing and refining operations which, in turn, was eventually acquired by Sunoco. A significant remainder of ARCO is now part of BP Corporation.
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