Company: Exxon Mobil
Founders: John D. Rockefeller
Industry: Exxon Mobil Corporation, also known as ExxonMobil, is a U.S.-based oil and gas corporation.
In 1999, Exxon and Mobil merged to form Exxon Mobil Corporation. Both of these component companies were direct descendants of Standard Oil, the corporation founded by John D. Rockefeller, which was formed in 1870.
Standard Oil was split into 34 companies in 1911 after the Supreme Court of the United States ruled it to be so on grounds of antitrust violations. Two of these—Jersey Standard and Socony—were the direct progenitors of Exxon and Mobil respectively.
The companies expanded significantly in the space of a few decades. Jersey Standard became the leading oil producer in the world and acquired a 50% share in Humble Oil & Refining Co., a Texas-based oil producer. Socony bought a 45% interest in the company Magnolia Petroleum Co., a major refiner, pipeline transporter, and marketer. Socony fused with Vacuum Oil Co. in 1931.
In 1950, Mobil Chemical Company was put up. In 1999, its products have included basic olefins and aromatics, polyethylene, and ethylene glycol.
In 1965 Exxon Chemical Company grew into a multinational organization. It was also a leader in metallocene catalyst.
In 1966 the company that was known as Socony-Vacuum became Mobil Oil Corp.
In 1998, Mobil and Exxon sealed a $73.7 billion agreement to merge and establish a new company labeled as ExxonMobil Corporation. On November 30, 1999, the fusion was completed. What made the merger unique was that it reunited two of Standard Oil’s independent descendants.
With $404.5 billion garnered in 2007, Exxon Mobil Corporation is the most massive company by revenue on a global basis. As of 2007 it is the biggest of the oil supermajors, producing 4.18 million barrels of oil equivalent on a daily basis.