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History of Exxon - Essay Example

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Exxon Mobil is a product of two companies, which are each influential component of the present business. The former Exxon Corporation was founded…
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History of Exxon
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History of Exxon History of Exxon Exxon Mobil’s history can be traced back to 1999 when Mobil Corporation merged with Exxon Corporation (Tarbell & Schechter, 2009). Exxon Mobil is a product of two companies, which are each influential component of the present business. The former Exxon Corporation was founded as a constituent of the Standard Oil trust in 1882 (Tarbell & Schechter, 2009). In 1888, the New Jersey Company established Anglo-American Oil Company with the aim of marketing oil in the British Islands. After two years of operation, it acquired in Esso Petroleum Company, which later became Esso AG. The Standard Oil Company in 1899 became the holding company for all corporations listed under the trust, but was order by the U.S. Supreme Court in 1911 to separate from 33 American subsidiaries.
In 1972, Standard Oil Company (New Jersey) changed its name to Exxon Corporation with other subsidiaries and affiliates, including Humble also adopting the name Exxon. Exxon had established itself in every phase of oil industry before merging with Mobil Company in 1999. Exxon dealt in oil transport via pipelines and also owns a largest fleet of tankers in relation to its peers. Exxon Mobil Corporation comes second after BP as the world largest integrated oil firm. The company runs oil and gas discovery, production, haulage as well as marketing in over 200 countries around the world (ExxonMobil, n.d). The company is also a major player in manufacturing of petrochemicals (Rienstra, Linsley & Beaumont Chamber of Commerce, 2003).
In 2014 quarter 4, Exxon Mobil recorded a higher decrease in total revenue year on year by -22.22 percent, which was faster compared with its competitors’ overall decrease of -16.91 over the same period. Exxon Mobil also recorded a net margin of 7.64 percent, thus achieving higher profitability compared to its competitors, including Royal Dutch Shell, BP, and Chevron (CSIMarket, 2014).
References
CSIMarket (2014). Exxon Mobil Corporation: XOM Sales vs. its Competitors Q4.Retrieved on April 19, 2015 from http://csimarket.com/stocks/compet_glance.php?code=XOM
ExxonMobil. (n.d). Our history. Retrieved April 19, 2015 from http://corporate.exxonmobil.com/en/company/about-us/history/overview
Rienstra, E. W., Linsley, J. W., & Beaumont Chamber of Commerce (Beaumont, Tex.). (2003). Historic Beaumont: An illustrated history. San Antonio, Tex: Historical Pub. Network.
Tarbell, I. M., & Schechter, D. (2009). The history of the Standard Oil Company in two volumes. New York: COSIMOClassics. Read More
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