John D. Rockefeller founded the Standard Oil Company in 1870.
In 1911, the Supreme Court ruled that Standard Oil had to be split into 34 oil companies amid a public outcry that the government take action against the company for monopolizing the market.
Two of those companies were Jersey Standard (Standard Oil Company of New Jersey), which eventually became Exxon, and Socony (Standard Oil Company of New York), which eventually became Mobil.
Over the next few decades, Jersey Standard became the largest oil producer in the world. At the same time, Socony acquired companies and stakes in other companies. The company started to produce chemicals as well as produce and refine oil.
Meanwhile, Jersey Standard changed its name to Exxon and Socony changed its name to Mobil.
The two companies first worked together in a joint venture in Indonesia.
In 1998 Exxon and Mobil signed a $73.3 billion dollar agreement to merge and form a new company, Exxon Mobil Corporation.
ExxonMobil is the largest of the world’s supermajors and is responsible for 3% of the total worldwide oil output at 3.921 million barrels per day.
Today ExxonMobil is the third largest company in the world and is ranked #5 on the Forbes list of the World’s Most Valuable Brands . ExxonMobil has 76,900 employees and had $453.123 billion in revenue in 2012.
ExxonMobil
John D. Rockefeller founded the Standard Oil Company in 1870.
In 1911, the Supreme Court ruled that Standard Oil had to be split into 34 oil companies amid a public outcry that the government take action against the company for monopolizing the market.
Two of those companies were Jersey Standard (Standard Oil Company of New Jersey), which eventually became Exxon, and Socony (Standard Oil Company of New York), which eventually became Mobil.
History
Over the next few decades, Jersey Standard became the largest oil producer in the world. At the same time, Socony acquired companies and stakes in other companies. The company started to produce chemicals as well as produce and refine oil.
Meanwhile, Jersey Standard changed its name to Exxon and Socony changed its name to Mobil.
The two companies first worked together in a joint venture in Indonesia.
In 1998 Exxon and Mobil signed a $73.3 billion dollar agreement to merge and form a new company, Exxon Mobil Corporation.
ExxonMobil is the largest of the world’s supermajors and is responsible for 3% of the total worldwide oil output at 3.921 million barrels per day.
Today ExxonMobil is the third largest company in the world and is ranked #5 on the Forbes list of the World’s Most Valuable Brands . ExxonMobil has 76,900 employees and had $453.123 billion in revenue in 2012.